Trexquant Investment LP Invests $7.77 Million in Coterra Energy Inc. (NYSE:CTRA)

Trexquant Investment LP bought a new stake in Coterra Energy Inc. (NYSE:CTRA) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 304,401 shares of the company’s stock, valued at approximately $7,768,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Schroder Investment Management Group increased its position in shares of Coterra Energy by 21.7% during the third quarter. Schroder Investment Management Group now owns 7,187,516 shares of the company’s stock worth $194,422,000 after purchasing an additional 1,281,094 shares in the last quarter. Dimensional Fund Advisors LP increased its position in Coterra Energy by 8.8% in the 4th quarter. Dimensional Fund Advisors LP now owns 10,465,383 shares of the company’s stock valued at $267,089,000 after acquiring an additional 848,519 shares during the period. AQR Capital Management LLC increased its position in Coterra Energy by 60.4% in the 3rd quarter. AQR Capital Management LLC now owns 1,936,277 shares of the company’s stock valued at $52,376,000 after acquiring an additional 729,306 shares during the period. Envestnet Asset Management Inc. increased its position in Coterra Energy by 47.2% in the 3rd quarter. Envestnet Asset Management Inc. now owns 2,247,785 shares of the company’s stock valued at $60,803,000 after acquiring an additional 720,464 shares during the period. Finally, Victory Capital Management Inc. increased its position in Coterra Energy by 3.5% in the 3rd quarter. Victory Capital Management Inc. now owns 15,945,601 shares of the company’s stock valued at $431,329,000 after acquiring an additional 544,768 shares during the period. 87.92% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

CTRA has been the topic of several recent research reports. Stephens restated an “overweight” rating and issued a $39.00 price target on shares of Coterra Energy in a research report on Tuesday, January 23rd. Stifel Nicolaus lowered their price objective on Coterra Energy from $33.00 to $31.00 and set a “buy” rating on the stock in a report on Friday, March 22nd. Barclays initiated coverage on Coterra Energy in a report on Wednesday, April 10th. They issued an “overweight” rating and a $36.00 price objective on the stock. JPMorgan Chase & Co. lifted their price objective on Coterra Energy from $29.00 to $30.00 and gave the company an “overweight” rating in a report on Thursday, April 4th. Finally, Scotiabank lifted 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. One research analyst has rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to MarketBeat, Coterra Energy has a consensus rating of “Moderate Buy” and an average price target of $33.67.

Coterra Energy Price Performance

CTRA stock traded down $0.41 on Tuesday, reaching $28.02. The company had a trading volume of 1,417,830 shares, compared to its average volume of 6,572,416. 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 0.16, a quick ratio of 1.46 and a current ratio of 1.49. The company’s fifty day moving average is $27.74 and its 200 day moving average is $26.36. The company has a market cap of $20.85 billion, a P/E ratio of 16.44 and a beta of 0.22.

Coterra Energy (NYSE:CTRA) last posted its earnings results on Thursday, February 22nd. The company reported $0.49 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.55 by ($0.06). Coterra Energy had a net margin of 23.34% and a return on equity of 10.75%. The company had revenue of $1.60 billion during the quarter, compared to analysts’ expectations of $1.54 billion. On average, research analysts forecast that Coterra Energy Inc. will post 1.82 earnings per share for the current year.

Coterra Energy Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, May 30th. Investors of record on Thursday, May 16th will be paid a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a yield of 3.00%. The ex-dividend date is Wednesday, May 15th. Coterra Energy’s payout ratio is currently 48.55%.

Insider Activity at Coterra Energy

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

Coterra Energy Profile

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.