101,392 Shares in Coterra Energy Inc. (NYSE:CTRA) Bought by Norden Group LLC

Norden Group LLC acquired a new position in shares of Coterra Energy Inc. (NYSE:CTRA) during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 101,392 shares of the company’s stock, valued at approximately $2,827,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Wetzel Investment Advisors Inc. acquired a new position in Coterra Energy during the fourth quarter worth $33,000. Tennessee Valley Asset Management Partners purchased a new stake in shares of Coterra Energy in the fourth quarter valued at $33,000. VisionPoint Advisory Group LLC lifted its position in shares of Coterra Energy by 133.3% in the third quarter. VisionPoint Advisory Group LLC now owns 1,295 shares of the company’s stock valued at $35,000 after acquiring an additional 740 shares in the last quarter. Headlands Technologies LLC lifted its position in shares of Coterra Energy by 397.7% in the fourth quarter. Headlands Technologies LLC now owns 1,742 shares of the company’s stock valued at $44,000 after acquiring an additional 1,392 shares in the last quarter. Finally, Harbor Investment Advisory LLC lifted its position in shares of Coterra Energy by 869.3% in the first quarter. Harbor Investment Advisory LLC now owns 1,609 shares of the company’s stock valued at $45,000 after acquiring an additional 1,443 shares in the last quarter. Institutional investors and hedge funds own 87.92% of the company’s stock.

Analyst Upgrades and Downgrades

CTRA has been the topic of several recent analyst reports. Barclays initiated coverage on Coterra Energy in a research report on Wednesday, April 10th. They set an “overweight” rating and a $36.00 target price on the stock. Mizuho increased their target price on Coterra Energy from $37.00 to $41.00 and gave the stock a “buy” rating in a research report on Monday, May 13th. Morgan Stanley increased their target price on Coterra Energy from $26.00 to $29.00 and gave the stock an “equal weight” rating in a research report on Wednesday, April 17th. Bank of America reiterated a “buy” rating and set a $34.00 target price on shares of Coterra Energy in a research report on Friday, June 14th. Finally, Citigroup increased their target price on Coterra Energy from $30.00 to $31.00 and gave the stock a “buy” rating in a research report on Friday, May 24th. One research analyst has rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat.com, Coterra Energy currently has a consensus rating of “Moderate Buy” and a consensus target price of $33.93.

Coterra Energy Trading Up 0.4 %

Shares of CTRA opened at $26.89 on Friday. The company has a market capitalization of $20.01 billion, a P/E ratio of 15.54, a P/E/G ratio of 1.24 and a beta of 0.24. Coterra Energy Inc. has a one year low of $23.73 and a one year high of $29.89. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.46 and a current ratio of 1.49. The stock has a 50-day moving average price of $27.53 and a 200 day moving average price of $26.61.

Coterra Energy (NYSE:CTRA) last issued its quarterly earnings results on Thursday, May 2nd. The company reported $0.50 EPS for the quarter, beating analysts’ consensus estimates of $0.41 by $0.09. The firm had revenue of $1.43 billion during the quarter, compared to the consensus estimate of $1.38 billion. Coterra Energy had a return on equity of 10.75% and a net margin of 23.34%. Sell-side analysts forecast that Coterra Energy Inc. will post 2 EPS for the current fiscal year.

Coterra Energy Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 30th. Investors of record on Thursday, May 16th were issued a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a yield of 3.12%. The ex-dividend date of this dividend was Wednesday, May 15th. Coterra Energy’s dividend payout ratio is currently 48.55%.

About Coterra Energy

Coterra Energy Inc, an independent oil and gas company, engages in the development, exploration, and production of oil, natural gas, and natural gas liquids in the United States. The company's properties include the Marcellus Shale with approximately 186,000 net acres in the dry gas window of the play located in Susquehanna County, Pennsylvania; Permian Basin properties with approximately 296,000 net acres located in west Texas and southeast New Mexico; and Anadarko Basin properties with approximately 182,000 net acres located in Oklahoma.