First Citizens Bank & Trust Co. Buys 731 Shares of Coterra Energy Inc. (NYSE:CTRA)

First Citizens Bank & Trust Co. raised its stake in Coterra Energy Inc. (NYSE:CTRA) by 7.8% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 10,126 shares of the company’s stock after purchasing an additional 731 shares during the period. First Citizens Bank & Trust Co.’s holdings in Coterra Energy were worth $259,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also added to or reduced their stakes in the company. City State Bank acquired a new stake in shares of Coterra Energy in the 4th quarter worth $26,000. AdvisorNet Financial Inc boosted its holdings in Coterra Energy by 192.2% in the fourth quarter. AdvisorNet Financial Inc now owns 1,131 shares of the company’s stock worth $29,000 after acquiring an additional 744 shares in the last quarter. MCF Advisors LLC grew its stake in shares of Coterra Energy by 230.5% during the fourth quarter. MCF Advisors LLC now owns 1,246 shares of the company’s stock worth $32,000 after acquiring an additional 869 shares during the last quarter. Values First Advisors Inc. acquired a new position in shares of Coterra Energy during the third quarter valued at about $57,000. Finally, Tobam purchased a new position in shares of Coterra Energy in the 3rd quarter valued at approximately $63,000. 87.92% of the stock is currently owned by institutional investors.

Coterra Energy Stock Performance

CTRA opened at $27.90 on Wednesday. Coterra Energy Inc. has a 52-week low of $22.30 and a 52-week high of $29.95. The company has a quick ratio of 1.56, a current ratio of 1.61 and a debt-to-equity ratio of 0.16. The firm’s fifty day simple moving average is $26.49 and its two-hundred day simple moving average is $25.11. The company has a market cap of $20.55 billion, a price-to-earnings ratio of 16.81, a PEG ratio of 0.65 and a beta of 0.27.

Coterra Energy (NYSE:CTRA) last released its earnings results on Thursday, October 31st. The company reported $0.32 earnings per share for the quarter, missing the consensus estimate of $0.35 by ($0.03). Coterra Energy had a net margin of 21.91% and a return on equity of 9.38%. The firm had revenue of $1.36 billion during the quarter, compared to analysts’ expectations of $1.28 billion. During the same quarter last year, the business earned $0.47 EPS. The business’s revenue was up .2% compared to the same quarter last year. Equities analysts anticipate that Coterra Energy Inc. will post 1.54 earnings per share for the current fiscal year.

Coterra Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, November 27th. Stockholders of record on Thursday, November 14th were paid a $0.21 dividend. This represents a $0.84 annualized dividend and a dividend yield of 3.01%. The ex-dividend date of this dividend was Thursday, November 14th. Coterra Energy’s dividend payout ratio is currently 50.60%.

Analyst Ratings Changes

A number of research analysts have issued reports on CTRA shares. Truist Financial upped their price target on shares of Coterra Energy from $33.00 to $37.00 and gave the company a “buy” rating in a research note on Monday, January 13th. Raymond James raised their target price on Coterra Energy from $35.00 to $41.00 and gave the stock an “outperform” rating in a research note on Thursday, January 23rd. Wells Fargo & Company boosted their price target on Coterra Energy from $32.00 to $35.00 and gave the company an “overweight” rating in a research note on Friday, November 15th. UBS Group raised their price objective on Coterra Energy from $31.00 to $35.00 and gave the stock a “buy” rating in a research note on Friday, November 15th. Finally, Barclays upped their target price on Coterra Energy from $31.00 to $33.00 and gave the company an “overweight” rating in a research report on Thursday, November 14th. Two equities research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $33.18.

Insider Buying and Selling

In other Coterra Energy news, SVP Kevin William Smith sold 29,643 shares of the business’s stock in a transaction on Tuesday, December 3rd. The stock was sold at an average price of $26.16, for a total transaction of $775,460.88. Following the transaction, the senior vice president now owns 77,075 shares of the company’s stock, valued at approximately $2,016,282. The trade was a 27.78 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, SVP Adam M. Vela sold 16,435 shares of the company’s stock in a transaction 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 completion of the sale, the senior vice president now owns 72,409 shares of the company’s stock, valued at approximately $1,937,664.84. The trade was a 18.50 % 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.

About Coterra Energy

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.