GAMMA Investing LLC Grows Position in Coterra Energy Inc. (NYSE:CTRA)

GAMMA Investing LLC raised its stake in shares of Coterra Energy Inc. (NYSE:CTRA) by 47.4% during the 4th quarter, Holdings Channel.com reports. The fund owned 11,962 shares of the company’s stock after acquiring an additional 3,845 shares during the period. GAMMA Investing LLC’s holdings in Coterra Energy were worth $306,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of CTRA. Wellington Management Group LLP lifted its position in shares of Coterra Energy by 28.4% during the third quarter. Wellington Management Group LLP now owns 71,210,013 shares of the company’s stock valued at $1,705,480,000 after purchasing an additional 15,736,247 shares in the last quarter. Charles Schwab Investment Management Inc. increased its stake in Coterra Energy by 1.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 22,156,361 shares of the company’s stock valued at $530,645,000 after buying an additional 305,626 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of Coterra Energy by 0.7% during the 3rd quarter. Geode Capital Management LLC now owns 19,000,702 shares of the company’s stock worth $453,628,000 after buying an additional 128,397 shares in the last quarter. Victory Capital Management Inc. lifted its position in shares of Coterra Energy by 1.2% during the 3rd quarter. Victory Capital Management Inc. now owns 16,963,084 shares of the company’s stock worth $406,266,000 after buying an additional 195,966 shares in the last quarter. Finally, King Luther Capital Management Corp boosted its stake in shares of Coterra Energy by 4.4% in the 2nd quarter. King Luther Capital Management Corp now owns 6,783,690 shares of the company’s stock worth $180,921,000 after buying an additional 285,774 shares during the last quarter. 87.92% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, SVP Adam M. Vela sold 16,435 shares of the company’s stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of $26.76, for a total value of $439,800.60. Following the transaction, the senior vice president now directly owns 72,409 shares in the company, valued at approximately $1,937,664.84. This represents a 18.50 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Kevin William Smith sold 29,643 shares of the firm’s stock in a transaction that occurred on Tuesday, December 3rd. The shares were sold at an average price of $26.16, for a total transaction of $775,460.88. Following the completion of the sale, the senior vice president now directly owns 77,075 shares in the company, valued at $2,016,282. This represents a 27.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.70% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the company. Piper Sandler dropped their price target on Coterra Energy from $35.00 to $33.00 and set an “overweight” rating on the stock in a report on Tuesday, December 17th. UBS Group lifted their target price on Coterra Energy from $31.00 to $35.00 and gave the stock a “buy” rating in a research note on Friday, November 15th. Barclays increased their price target on shares of Coterra Energy from $31.00 to $33.00 and gave the company an “overweight” rating in a research report on Thursday, November 14th. JPMorgan Chase & Co. lowered their price objective on shares of Coterra Energy from $31.00 to $26.00 and set an “overweight” rating on the stock in a research report on Thursday, September 12th. Finally, Stephens boosted their target price on shares of Coterra Energy from $28.00 to $29.00 and gave the company an “overweight” rating in a research note on Friday, November 1st. Two analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $32.53.

Coterra Energy Stock Performance

Shares of CTRA opened at $26.24 on Tuesday. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.56 and a current ratio of 1.61. The stock has a market capitalization of $19.33 billion, a price-to-earnings ratio of 15.81, a price-to-earnings-growth ratio of 1.64 and a beta of 0.27. Coterra Energy Inc. has a 52-week low of $22.30 and a 52-week high of $28.90. The stock’s 50-day simple moving average is $25.25 and its 200 day simple moving average is $24.92.

Coterra Energy (NYSE:CTRA) last released its quarterly earnings data on Thursday, October 31st. The company reported $0.32 EPS for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.03). The firm had revenue of $1.36 billion during the quarter, compared to the consensus estimate of $1.28 billion. Coterra Energy had a net margin of 21.91% and a return on equity of 9.38%. Coterra Energy’s revenue was up .2% compared to the same quarter last year. During the same quarter last year, the business posted $0.47 earnings per share. Research analysts forecast that Coterra Energy Inc. will post 1.53 EPS for the current fiscal year.

Coterra Energy Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, November 27th. Stockholders of record on Thursday, November 14th were issued a $0.21 dividend. The ex-dividend date was Thursday, November 14th. This represents a $0.84 annualized dividend and a dividend yield of 3.20%. Coterra Energy’s payout ratio is currently 50.60%.

Coterra Energy Company 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.