Coterra Energy Inc. (NYSE:CTRA) is Pingora Partners LLC’s 5th Largest Position

Pingora Partners LLC grew its holdings in Coterra Energy Inc. (NYSE:CTRA) by 1.0% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 137,717 shares of the company’s stock after acquiring an additional 1,300 shares during the period. Coterra Energy comprises about 2.3% of Pingora Partners LLC’s investment portfolio, making the stock its 5th biggest position. Pingora Partners LLC’s holdings in Coterra Energy were worth $3,298,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the business. Fortitude Family Office LLC lifted its stake in Coterra Energy by 154.9% in the 2nd quarter. Fortitude Family Office LLC now owns 933 shares of the company’s stock worth $25,000 after purchasing an additional 567 shares in the last quarter. Larson Financial Group LLC lifted its position in shares of Coterra Energy by 98.0% in the second quarter. Larson Financial Group LLC now owns 1,081 shares of the company’s stock worth $29,000 after buying an additional 535 shares in the last quarter. Values First Advisors Inc. purchased a new position in Coterra Energy during the 3rd quarter valued at approximately $57,000. Tobam bought a new stake in Coterra Energy in the 3rd quarter worth approximately $63,000. Finally, EverSource Wealth Advisors LLC raised its holdings in shares of Coterra Energy by 31.0% during the 1st quarter. EverSource Wealth Advisors LLC now owns 2,351 shares of the company’s stock worth $64,000 after acquiring an additional 557 shares in the last quarter. Institutional investors own 87.92% of the company’s stock.

Coterra Energy Trading Up 0.3 %

NYSE CTRA opened at $26.16 on Wednesday. The firm has a market cap of $19.27 billion, a PE ratio of 15.76, a price-to-earnings-growth ratio of 1.70 and a beta of 0.27. Coterra Energy Inc. has a 52 week low of $22.30 and a 52 week high of $28.90. 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 company has a 50 day moving average price of $24.80 and a 200 day moving average price of $25.34.

Coterra Energy (NYSE:CTRA) last issued its quarterly earnings data on Thursday, October 31st. The company reported $0.32 EPS 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 business had revenue of $1.36 billion for the quarter, compared to analysts’ expectations of $1.28 billion. During the same quarter in the prior year, the company posted $0.47 EPS. The business’s revenue for the quarter was up .2% on a year-over-year basis. As a group, sell-side analysts forecast that Coterra Energy Inc. will post 1.53 EPS for the current fiscal year.

Coterra Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, November 27th. Stockholders of record on Thursday, November 14th were issued a dividend of $0.21 per share. The ex-dividend date was Thursday, November 14th. This represents a $0.84 annualized dividend and a dividend yield of 3.21%. Coterra Energy’s dividend payout ratio (DPR) is currently 50.60%.

Insider Activity at Coterra Energy

In other news, SVP Adam M. Vela sold 16,435 shares of the firm’s stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of $26.76, for a total value of $439,800.60. Following the completion of the transaction, the senior vice president now directly owns 72,409 shares in the company, valued at $1,937,664.84. This trade represents a 18.50 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, SVP Kevin William Smith sold 29,643 shares of the company’s stock in a transaction that occurred on Tuesday, December 3rd. The shares were sold at an average price of $26.16, for a total value of $775,460.88. Following the completion of the sale, the senior vice president now owns 77,075 shares in the company, valued at approximately $2,016,282. This represents a 27.78 % decrease in their position. The disclosure for this sale can be found here. 1.70% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several brokerages recently weighed in on CTRA. Piper Sandler boosted their price target on shares of Coterra Energy from $32.00 to $35.00 and gave the stock an “overweight” rating in a research report on Thursday, November 14th. Mizuho upped their target price on shares of Coterra Energy from $36.00 to $37.00 and gave the company an “outperform” rating in a research report on Friday, November 1st. Scotiabank dropped 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. JPMorgan Chase & Co. decreased their price objective on Coterra Energy from $31.00 to $26.00 and set an “overweight” rating on the stock in a research report on Thursday, September 12th. Finally, Susquehanna lifted their target price on Coterra Energy from $30.00 to $33.00 and gave the stock a “positive” rating in a report on Thursday, November 14th. Two analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $32.47.

Coterra Energy Company 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.