Coterra Energy Inc. (NYSE:CTRA) Stock Position Boosted by Viking Fund Management LLC

Viking Fund Management LLC grew its stake in shares of Coterra Energy Inc. (NYSE:CTRA) by 222.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 290,000 shares of the company’s stock after buying an additional 200,000 shares during the quarter. Viking Fund Management LLC’s holdings in Coterra Energy were worth $7,407,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently made changes to their positions in CTRA. Nisa Investment Advisors LLC boosted its stake in Coterra Energy by 3.2% during the fourth quarter. Nisa Investment Advisors LLC now owns 251,776 shares of the company’s stock valued at $6,430,000 after buying an additional 7,846 shares in the last quarter. MCF Advisors LLC lifted its holdings in Coterra Energy by 230.5% in the 4th quarter. MCF Advisors LLC now owns 1,246 shares of the company’s stock valued at $32,000 after acquiring an additional 869 shares during the last quarter. Bourgeon Capital Management LLC boosted its position in shares of Coterra Energy by 107.0% during the 4th quarter. Bourgeon Capital Management LLC now owns 236,952 shares of the company’s stock valued at $6,052,000 after purchasing an additional 122,487 shares in the last quarter. Perpetual Ltd grew its stake in shares of Coterra Energy by 46.1% in the 4th quarter. Perpetual Ltd now owns 23,774 shares of the company’s stock worth $607,000 after purchasing an additional 7,505 shares during the last quarter. Finally, Sky Investment Group LLC raised its holdings in shares of Coterra Energy by 3.7% in the 4th quarter. Sky Investment Group LLC now owns 13,899 shares of the company’s stock worth $355,000 after purchasing an additional 492 shares in the last quarter. 87.92% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Coterra Energy

In other news, SVP Adam M. Vela sold 16,435 shares of the business’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 directly owns 72,409 shares in the company, valued at approximately $1,937,664.84. The trade was a 18.50 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Kevin William Smith sold 29,643 shares of the firm’s stock in a transaction on Tuesday, December 3rd. The shares were sold at an average price of $26.16, for a total transaction of $775,460.88. Following the completion of the transaction, the senior vice president now owns 77,075 shares in the company, valued at $2,016,282. The trade was a 27.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 1.70% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have issued reports on CTRA shares. UBS Group lifted their price target on shares of Coterra Energy from $31.00 to $35.00 and gave the stock a “buy” rating in a research report on Friday, November 15th. Susquehanna boosted their target price on Coterra Energy from $30.00 to $33.00 and gave the stock a “positive” rating in a research report on Thursday, November 14th. Scotiabank decreased their price target on Coterra Energy from $35.00 to $32.00 and set a “sector outperform” rating for the company in a research report on Thursday, October 10th. Morgan Stanley boosted their price objective on Coterra Energy from $27.00 to $29.00 and gave the stock an “equal weight” rating in a report on Thursday, November 14th. Finally, Barclays raised their target price on shares of Coterra Energy from $31.00 to $33.00 and gave the stock an “overweight” rating in a report on Thursday, November 14th. Two investment 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 stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $32.76.

Coterra Energy Stock Down 1.1 %

CTRA opened at $29.13 on Wednesday. The company has a market capitalization of $21.46 billion, a PE ratio of 17.55, a price-to-earnings-growth ratio of 0.71 and a beta of 0.27. The business has a 50-day moving average of $26.13 and a 200-day moving average of $25.02. Coterra Energy Inc. has a fifty-two week low of $22.30 and a fifty-two week high of $29.95. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.61 and a quick ratio of 1.56.

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

Coterra Energy Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, November 27th. Shareholders of record on Thursday, November 14th were given a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a yield of 2.88%. The ex-dividend date was Thursday, November 14th. Coterra Energy’s payout ratio is 50.60%.

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.