Sanctuary Advisors LLC Purchases 25,706 Shares of Coterra Energy Inc. (NYSE:CTRA)

Sanctuary Advisors LLC grew its position in Coterra Energy Inc. (NYSE:CTRA) by 21.3% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 146,581 shares of the company’s stock after acquiring an additional 25,706 shares during the period. Sanctuary Advisors LLC’s holdings in Coterra Energy were worth $3,511,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Larson Financial Group LLC grew its holdings in Coterra Energy by 98.0% during the 2nd quarter. Larson Financial Group LLC now owns 1,081 shares of the company’s stock worth $29,000 after acquiring an additional 535 shares during the last quarter. Values First Advisors Inc. bought a new stake in shares of Coterra Energy during the third quarter valued at approximately $57,000. Family Firm Inc. acquired a new stake in shares of Coterra Energy in the second quarter valued at approximately $68,000. Tobam bought a new position in Coterra Energy in the 3rd quarter worth approximately $63,000. Finally, Capital Performance Advisors LLP acquired a new position in Coterra Energy during the 3rd quarter worth $67,000. 87.92% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Coterra Energy

In other Coterra Energy news, SVP Adam M. Vela sold 16,435 shares of Coterra Energy stock in a transaction on 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 of the company’s stock, valued at $1,937,664.84. The trade was a 18.50 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Kevin William Smith sold 29,643 shares of the stock in a transaction on Tuesday, December 3rd. The stock was sold at an average price of $26.16, for a total value of $775,460.88. Following the sale, the senior vice president now directly owns 77,075 shares in the company, valued at approximately $2,016,282. This trade represents a 27.78 % 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 corporate insiders.

Coterra Energy Stock Down 2.4 %

Shares of CTRA opened at $24.73 on Tuesday. The firm’s 50-day simple moving average is $25.00 and its 200 day simple moving average is $25.21. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.56 and a current ratio of 1.61. The firm has a market cap of $18.21 billion, a P/E ratio of 14.89, a price-to-earnings-growth ratio of 1.64 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.

Coterra Energy (NYSE:CTRA) last announced its earnings results on Thursday, October 31st. The company reported $0.32 earnings per share for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.03). The firm had revenue of $1.36 billion for the quarter, compared to the consensus estimate of $1.28 billion. Coterra Energy had a return on equity of 9.38% and a net margin of 21.91%. Coterra Energy’s revenue for the quarter was up .2% on a year-over-year basis. During the same quarter last year, the business posted $0.47 EPS. On average, analysts forecast that Coterra Energy Inc. will post 1.53 earnings per share for the current year.

Coterra Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, November 27th. Stockholders of record on Thursday, November 14th were given a $0.21 dividend. The ex-dividend date was Thursday, November 14th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 3.40%. Coterra Energy’s payout ratio is presently 50.60%.

Analysts Set New Price Targets

Several equities research analysts have recently commented on CTRA shares. Citigroup lifted their target price on Coterra Energy from $28.00 to $32.00 and gave the company a “buy” rating in a research note on Tuesday, November 26th. Truist Financial increased their price target on shares of Coterra Energy from $31.00 to $33.00 and gave the company a “buy” rating in a research report on Thursday, November 14th. Stephens lifted their target price on Coterra Energy from $28.00 to $29.00 and gave the company an “overweight” rating in a research report on Friday, November 1st. Susquehanna lifted their price target on shares of Coterra Energy from $30.00 to $33.00 and gave the company a “positive” rating in a research note on Thursday, November 14th. Finally, UBS Group increased their price objective on shares of Coterra Energy from $31.00 to $35.00 and gave the stock a “buy” rating in a research note on Friday, November 15th. Two equities research analysts have rated the stock with a hold rating, sixteen have assigned 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 a consensus price target of $32.65.

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.