Crossmark Global Holdings Inc. Sells 6,072 Shares of Coterra Energy Inc. (NYSE:CTRA)
Crossmark Global Holdings Inc. reduced its stake in Coterra Energy Inc. (NYSE:CTRA) by 9.8% in the fourth quarter, according to a recent filing with the Securities and Exchange Commission (SEC). The firm sold 6,072 shares, leaving them with 55,596 shares valued at $1,418,000.
Other hedge funds and institutional investors also made changes to their positions in Coterra Energy. Invesco Ltd. increased its stake by 1.5%, Dimensional Fund Advisors LP by 8.8%, Northern Trust Corp by 2.3%, Morgan Stanley by 5.9%, and Schroder Investment Management Group by 21.7%. In total, 87.92% of the stock is now owned by institutional investors and hedge funds.
In insider activity, CAO Todd M. Roemer sold 55,000 shares of Coterra Energy’s stock in March. The stock was sold at an average price of $27.06, totaling $1,488,300. Following the sale, Roemer now owns 176,758 shares valued at $4,783,071.48. This sale was disclosed in a filing with the SEC, with 1.70% of the stock now owned by company insiders.
On the market, Coterra Energy opened at $27.58 on Friday with a market capitalization of $20.53 billion. The company has a price-to-earnings ratio of 15.94 and a beta of 0.21. The stock’s 50-day simple moving average is $27.85, with a quick ratio of 1.46 and a current ratio of 1.49. Coterra Energy has a twelve month low of $23.60 and a twelve month high of $29.89.
In its latest quarterly earnings report, Coterra Energy reported $0.50 EPS, beating the consensus estimate of $0.41 by $0.09. The company had revenue of $1.43 billion for the quarter, compared to the consensus estimate of $1.38 billion. Coterra Energy’s return on equity is 10.75% with a net margin of 23.34%. Analysts predict the company will post 1.82 EPS for the current fiscal year.
The company also announced a quarterly dividend, with stockholders of record on May 16th receiving a $0.21 dividend on May 30th. The ex-dividend date was May 15th, representing a $0.84 annualized dividend and a dividend yield of 3.05%. Coterra Energy’s dividend payout ratio is currently 48.55%.
Several Wall Street analysts have recently given their opinion on Coterra Energy. Mizuho raised their price target to $41.00 with a “buy” rating, while Stifel Nicolaus, Morgan Stanley, Barclays, and Susquehanna also provided positive ratings. Overall, the company has a consensus rating of “Moderate Buy” with a target price of $33.73.
Coterra Energy Inc. is an independent oil and gas company focused on the development, exploration, and production of oil, natural gas, and natural gas liquids in the United States. Their properties include the Marcellus Shale, Permian Basin, and Anadarko Basin.
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