Alaska Permanent Fund Corp Raises Position in Coterra Energy Inc. (NYSE:CTRA)

Alaska Permanent Fund Corp raised its stake in Coterra Energy Inc. (NYSE:CTRA) by 1.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 96,170 shares of the company’s stock after purchasing an additional 1,270 shares during the quarter. Alaska Permanent Fund Corp’s holdings in Coterra Energy were worth $2,454,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Significant Wealth Partners LLC purchased a new stake in shares of Coterra Energy during the fourth quarter valued at approximately $1,604,000. Van ECK Associates Corp increased its position in shares of Coterra Energy by 2.1% during the third quarter. Van ECK Associates Corp now owns 113,399 shares of the company’s stock valued at $3,068,000 after acquiring an additional 2,376 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in shares of Coterra Energy during the third quarter valued at approximately $1,461,000. Nordea Investment Management AB increased its position in shares of Coterra Energy by 3.9% during the third quarter. Nordea Investment Management AB now owns 803,979 shares of the company’s stock valued at $21,844,000 after acquiring an additional 30,237 shares during the last quarter. Finally, Pinnacle Associates Ltd. grew its holdings in Coterra Energy by 5.3% during the fourth quarter. Pinnacle Associates Ltd. now owns 13,443 shares of the company’s stock valued at $343,000 after purchasing an additional 679 shares during the period. 87.92% of the stock is owned by hedge funds and other institutional investors.

Coterra Energy Price Performance

NYSE CTRA traded down $0.21 during trading hours on Thursday, reaching $28.25. 395,832 shares of the stock traded hands, compared to its average volume of 6,764,057. The stock has a 50 day simple moving average of $26.95 and a two-hundred day simple moving average of $26.42. Coterra Energy Inc. has a 1 year low of $22.91 and a 1 year high of $29.89. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.21 and a quick ratio of 1.18. The company has a market cap of $21.24 billion, a price-to-earnings ratio of 13.29 and a beta of 0.21.

Coterra Energy (NYSE:CTRA) last released its earnings results on Thursday, February 22nd. The company reported $0.49 earnings per share for the quarter, missing analysts’ consensus estimates of $0.55 by ($0.06). Coterra Energy had a net margin of 27.48% and a return on equity of 12.97%. The company had revenue of $1.60 billion during the quarter, compared to the consensus estimate of $1.54 billion. On average, analysts predict that Coterra Energy Inc. will post 1.87 EPS for the current fiscal year.

Coterra Energy Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Thursday, March 14th were given a dividend of $0.21 per share. This is a positive change from Coterra Energy’s previous quarterly dividend of $0.20. The ex-dividend date of this dividend was Wednesday, March 13th. This represents a $0.84 dividend on an annualized basis and a yield of 2.97%. Coterra Energy’s dividend payout ratio is presently 39.25%.

Insider Buying and Selling at Coterra Energy

In other Coterra Energy news, CAO Todd M. Roemer sold 55,000 shares of the company’s stock in a transaction that occurred on Wednesday, March 20th. The stock was sold at an average price of $27.06, for a total transaction of $1,488,300.00. Following the transaction, the chief accounting officer now owns 176,758 shares in the company, valued at approximately $4,783,071.48. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CAO Todd M. Roemer sold 55,000 shares of the company’s stock in a transaction that occurred on Wednesday, March 20th. The stock was sold at an average price of $27.06, for a total value of $1,488,300.00. Following the sale, the chief accounting officer now owns 176,758 shares in the company, valued at approximately $4,783,071.48. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP Michael D. Deshazer sold 14,000 shares of the company’s stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $26.06, for a total value of $364,840.00. Following the completion of the sale, the vice president now owns 93,988 shares in the company, valued at approximately $2,449,327.28. The disclosure for this sale can be found here. 1.70% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

CTRA has been the subject of several research reports. Susquehanna increased their price objective on Coterra Energy from $30.00 to $32.00 and gave the company a “positive” rating in a report on Monday. Stephens reissued an “overweight” rating and set a $39.00 price objective on shares of Coterra Energy in a report on Tuesday, January 23rd. Scotiabank increased their price objective on Coterra Energy from $31.00 to $35.00 and gave the company a “sector outperform” rating in a report on Thursday, April 11th. Barclays initiated coverage on Coterra Energy in a report on Wednesday, April 10th. They set an “overweight” rating and a $36.00 price objective for the company. Finally, UBS Group raised their price target on Coterra Energy from $31.00 to $32.00 and gave the stock a “buy” rating in a report on Friday, March 1st. Two equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat.com, Coterra Energy has an average rating of “Moderate Buy” and a consensus price target of $32.47.

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.