AIA Group Ltd Grows Position in Coterra Energy Inc. (NYSE:CTRA)

Posted by on Apr 16th, 2023

AIA Group Ltd boosted its position in Coterra Energy Inc. (NYSE:CTRA – Get Rating) by 133.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 10,273 shares of the company’s stock after acquiring an additional 5,877 shares during the quarter. AIA Group Ltd’s holdings in Coterra Energy were worth $252,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. Wedbush Securities Inc. grew its stake in shares of Coterra Energy by 135.4% during the fourth quarter. Wedbush Securities Inc. now owns 23,404 shares of the company’s stock valued at $575,000 after buying an additional 13,463 shares during the last quarter. Shilanski & Associates Inc. purchased a new stake in shares of Coterra Energy during the fourth quarter valued at approximately $1,436,000. Geneos Wealth Management Inc. grew its holdings in shares of Coterra Energy by 10.4% in the fourth quarter. Geneos Wealth Management Inc. now owns 14,990 shares of the company’s stock worth $368,000 after purchasing an additional 1,409 shares during the last quarter. New York State Common Retirement Fund increased its stake in shares of Coterra Energy by 2.7% in the fourth quarter. New York State Common Retirement Fund now owns 1,074,478 shares of the company’s stock worth $26,400,000 after buying an additional 27,879 shares during the period. Finally, VitalStone Financial LLC bought a new stake in Coterra Energy during the 4th quarter valued at $64,000. 94.72% of the stock is currently owned by institutional investors.

Coterra Energy Stock Up 0.1 %

NYSE CTRA opened at $25.76 on Friday. Coterra Energy Inc. has a one year low of $22.25 and a one year high of $36.55. The company has a market capitalization of $19.72 billion, a P/E ratio of 5.04, a P/E/G ratio of 0.18 and a beta of 0.25. The stock has a 50 day moving average price of $24.62 and a 200-day moving average price of $26.02. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.80 and a current ratio of 1.85.

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

Coterra Energy Cuts Dividend

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

Insider Activity

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 transaction, the vice president now owns 77,406 shares in the company, valued at $1,865,484.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 1.70% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently commented on CTRA. Truist Financial upped their target price on Coterra Energy from $26.00 to $29.00 and gave the company a “hold” rating in a report on Tuesday, April 11th. Raymond James lowered shares of Coterra Energy from an “outperform” rating to a “market perform” rating in a research note on Monday, February 6th. Mizuho decreased their price target on shares of Coterra Energy from $40.00 to $38.00 in a research note on Friday, March 10th. Wells Fargo & Company lowered their price objective on shares of Coterra Energy from $28.00 to $27.00 and set an “equal weight” rating for the company in a report on Thursday, March 9th. Finally, Barclays upped their target price on Coterra Energy from $26.00 to $30.00 and gave the stock an “equal weight” rating in a report on Friday, March 17th. One research analyst has rated the stock with a sell rating, sixteen have issued a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, Coterra Energy currently has a consensus rating of “Hold” and an average 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.

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Institutional Ownership by Quarter for Coterra Energy (NYSE:CTRA)

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