Coterra Energy Inc. (NYSE:CTRA) Shares Acquired by Versor Investments LP

Posted by Defense World Staff on Apr 16th, 2023

Versor Investments LP lifted its holdings in shares of Coterra Energy Inc. (NYSE:CTRA – Get Rating) by 25.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 13,038 shares of the company’s stock after buying an additional 2,638 shares during the period. Versor Investments LP’s holdings in Coterra Energy were worth $320,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Adirondack Trust Co. acquired a new position in shares of Coterra Energy during the fourth quarter worth approximately $25,000. Accurate Wealth Management LLC acquired a new position in shares of Coterra Energy during the fourth quarter worth approximately $28,000. Guardian Wealth Advisors LLC acquired a new position in shares of Coterra Energy during the third quarter worth approximately $30,000. Accel Wealth Management acquired a new position in shares of Coterra Energy during the fourth quarter worth approximately $30,000. Finally, Achmea Investment Management B.V. acquired a new position in shares of Coterra Energy during the first quarter worth approximately $41,000. 94.72% of the stock is currently owned by institutional investors and hedge funds.

Coterra Energy Price Performance

Shares of NYSE:CTRA opened at $25.76 on Friday. The company’s fifty day moving average is $24.62 and its two-hundred day moving average is $26.02. The company has a quick ratio of 1.80, a current ratio of 1.85 and a debt-to-equity ratio of 0.17. Coterra Energy Inc. has a 12-month low of $22.25 and a 12-month high of $36.55. The company has a market cap of $19.72 billion, a P/E ratio of 5.04, a price-to-earnings-growth ratio of 0.18 and a beta of 0.25.

Coterra Energy (NYSE:CTRA – Get Rating) last announced its earnings results on Wednesday, February 22nd. The company reported $1.14 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.10 by $0.04. Coterra Energy had a net margin of 44.91% and a return on equity of 31.29%. The company had revenue of $2.28 billion for the quarter, compared to the consensus estimate of $2.15 billion. Equities analysts expect that Coterra Energy Inc. will post 2.56 earnings per share for the current fiscal year.

Coterra Energy Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 30th. Shareholders of record on Thursday, March 16th were paid a dividend of $0.57 per share. This represents a $2.28 annualized dividend and a yield of 8.85%. The ex-dividend date of this dividend was Wednesday, March 15th. Coterra Energy’s dividend payout ratio (DPR) is currently 15.66%.

Insider Buying and Selling at Coterra Energy

In other Coterra Energy news, VP Michael D. Deshazer sold 20,824 shares of the business’s stock in a transaction on Tuesday, March 21st. The shares were sold at an average price of $24.10, for a total transaction of $501,858.40. Following the sale, the vice president now directly owns 77,406 shares of the company’s stock, valued at approximately $1,865,484.60. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 1.70% of the company’s stock.

Analyst Ratings Changes

CTRA has been the topic of several recent analyst reports. Stifel Nicolaus dropped their target price on Coterra Energy from $38.00 to $35.00 and set a “buy” rating on the stock in a report on Wednesday. Morgan Stanley dropped their target price on Coterra Energy from $28.00 to $26.00 and set an “equal weight” rating on the stock in a report on Monday, March 27th. Citigroup dropped their target price on Coterra Energy from $23.00 to $21.00 and set a “buy” rating on the stock in a report on Thursday, March 23rd. Wells Fargo & Company dropped their target price on Coterra Energy from $28.00 to $27.00 and set an “equal weight” rating on the stock in a report on Thursday, March 9th. Finally, Roth Capital reissued a “neutral” rating on shares of Coterra Energy in a report on Wednesday, February 22nd. One investment analyst has rated the stock with a sell rating, sixteen have given a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $30.13.

Coterra Energy Company Profile

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Coterra Energy Inc is a diversified energy company, which engages in the exploration, development, and production of oil and natural gas properties. Its portfolio includes projects in the Permian Basin, the Marcellus Shale, and the Anadarko Basin. The company was renamed to Coterra Energy Inc on October 1, 2021 in connection with the merger involving Cabot Oil & Gas Corp.