D.A. Davidson & CO. Acquires 10,726 Shares of Coterra Energy Inc. (NYSE:CTRA)

Posted by Defense World Staff on Apr 30th, 2023

D.A. Davidson & CO. increased its holdings in Coterra Energy Inc. (NYSE:CTRA – Get Rating) by 76.0% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 24,848 shares of the company’s stock after acquiring an additional 10,726 shares during the quarter. D.A. Davidson & CO.’s holdings in Coterra Energy were worth $611,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also bought and sold shares of CTRA. Raymond James Financial Services Advisors Inc. bought a new stake in Coterra Energy during the 1st quarter valued at about $1,267,000. Yousif Capital Management LLC bought a new stake in Coterra Energy during the 1st quarter valued at about $3,011,000. Raymond James Trust N.A. bought a new stake in Coterra Energy during the 1st quarter valued at about $400,000. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp bought a new stake in Coterra Energy during the 1st quarter valued at about $3,218,000. Finally, Cibc World Market Inc. bought a new stake in Coterra Energy during the 1st quarter valued at about $292,000. 94.72% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on CTRA shares. Bank of America upgraded shares of Coterra Energy from an “underperform” rating to a “neutral” rating and reduced their price objective for the company from $30.00 to $29.00 in a research note on Friday, January 6th. Roth Capital restated a “neutral” rating on shares of Coterra Energy in a research note on Wednesday, February 22nd. Citigroup upgraded shares of Coterra Energy from a “sell” rating to a “neutral” rating and lifted their price target for the stock from $22.00 to $25.00 in a research note on Wednesday, April 19th. The Goldman Sachs Group lifted their price target on shares of Coterra Energy from $27.00 to $30.00 and gave the stock a “buy” rating in a research note on Friday, March 10th. Finally, Stephens initiated coverage on shares of Coterra Energy in a research note on Monday, April 24th. They issued an “overweight” rating and a $32.00 price target for the company. Sixteen investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $30.06.

Coterra Energy Price Performance

Shares of NYSE:CTRA opened at $25.60 on Friday. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.85 and a quick ratio of 1.80. Coterra Energy Inc. has a 1-year low of $22.25 and a 1-year high of $36.55. The company has a market capitalization of $19.60 billion, a P/E ratio of 5.01, a P/E/G ratio of 0.19 and a beta of 0.25. The firm’s 50 day simple moving average is $24.80 and its two-hundred day simple moving average is $25.85.

Coterra Energy (NYSE:CTRA – Get Rating) last issued its quarterly earnings results on Wednesday, February 22nd. The company reported $1.14 earnings per share 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 business had revenue of $2.28 billion for the quarter, compared to the consensus estimate of $2.15 billion. Research analysts expect that Coterra Energy Inc. will post 2.41 EPS for the current fiscal year.

Coterra Energy Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 30th. Shareholders of record on Thursday, March 16th were issued a dividend of $0.57 per share. This represents a $2.28 annualized dividend and a yield of 8.91%. The ex-dividend date of this dividend was Wednesday, March 15th. Coterra Energy’s dividend payout ratio 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 Coterra Energy stock in a transaction that occurred 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 of the company’s stock, valued at $1,865,484.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 1.70% of the company’s stock.

About Coterra Energy

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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.