Saxon Interests Inc. Takes $244,000 Position in Coterra Energy Inc. (NYSE:CTRA)

Saxon Interests Inc. bought a new stake in Coterra Energy Inc. (NYSE:CTRA) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 9,546 shares of the company’s stock, valued at approximately $244,000.

A number of other large investors also recently modified their holdings of CTRA. Raymond James Financial Services Advisors Inc. bought a new position in shares of Coterra Energy in the first quarter valued at approximately $1,267,000. D.A. Davidson & CO. bought a new stake in Coterra Energy during the first quarter worth $305,000. Yousif Capital Management LLC bought a new stake in Coterra Energy during the first quarter worth $3,011,000. Raymond James Trust N.A. bought a new stake in Coterra Energy during the first quarter worth $400,000. Finally, BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp bought a new stake in Coterra Energy during the first quarter worth $3,218,000. Institutional investors own 87.92% of the company’s stock.

Insider Activity

In other news, VP Michael D. Deshazer sold 14,000 shares of Coterra Energy stock in a transaction on Friday, March 1st. The stock was sold at an average price of $26.06, for a total value of $364,840.00. Following the completion of the transaction, the vice president now directly owns 93,988 shares in the company, valued at $2,449,327.28. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, VP Michael D. Deshazer sold 14,000 shares of the business’s stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $26.06, for a total transaction of $364,840.00. Following the completion of the transaction, the vice president now directly owns 93,988 shares in the company, valued at $2,449,327.28. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CAO Todd M. Roemer sold 55,000 shares of the business’s stock in a transaction dated Wednesday, March 20th. The stock was sold at an average price of $27.06, for a total value of $1,488,300.00. Following the transaction, the chief accounting officer now owns 176,758 shares of the company’s stock, valued at $4,783,071.48. The disclosure for this sale can be found here. 1.70% of the stock is owned by company insiders.

Coterra Energy Stock Performance

Shares of NYSE CTRA traded up $0.02 during mid-day trading on Thursday, hitting $27.88. The company had a trading volume of 6,854,369 shares, compared to its average volume of 7,097,878. The company has a market capitalization of $20.96 billion, a price-to-earnings ratio of 13.03 and a beta of 0.20. Coterra Energy Inc. has a 1 year low of $22.91 and a 1 year high of $29.89. The company has a current ratio of 1.21, a quick ratio of 1.18 and a debt-to-equity ratio of 0.12. The stock’s 50-day moving average price is $25.70 and its 200-day moving average price is $26.32.

Coterra Energy (NYSE:CTRA) last announced its quarterly earnings results on Thursday, February 22nd. The company reported $0.49 earnings per share for the quarter, missing the consensus estimate of $0.55 by ($0.06). The company had revenue of $1.60 billion during the quarter, compared to analysts’ expectations of $1.54 billion. Coterra Energy had a net margin of 27.48% and a return on equity of 12.97%. On average, sell-side analysts forecast that Coterra Energy Inc. will post 1.98 earnings per share for the current year.

Coterra Energy Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 28th. Stockholders of record on Thursday, March 14th will be given a $0.21 dividend. The ex-dividend date is Wednesday, March 13th. This is a boost from Coterra Energy’s previous quarterly dividend of $0.20. This represents a $0.84 annualized dividend and a dividend yield of 3.01%. Coterra Energy’s payout ratio is 39.25%.

Wall Street Analysts Forecast Growth

CTRA has been the topic of a number of recent analyst reports. Susquehanna upgraded Coterra Energy from a “neutral” rating to a “positive” rating and dropped their price target for the stock from $31.00 to $30.00 in a report on Friday, January 26th. Morgan Stanley dropped their price target on Coterra Energy from $27.00 to $26.00 and set an “equal weight” rating on the stock in a report on Thursday. Stephens reiterated an “overweight” rating and set a $39.00 price target on shares of Coterra Energy in a report on Tuesday, January 23rd. Mizuho dropped their price target on Coterra Energy from $35.00 to $34.00 and set a “buy” rating on the stock in a report on Thursday, March 21st. Finally, Bank of America raised Coterra Energy from a “neutral” rating to a “buy” rating and set a $31.00 target price for the company in a research report on Friday, January 5th. Two research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat, Coterra Energy presently has an average rating of “Moderate Buy” and a consensus price target of $31.77.

Coterra Energy 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.