CX Institutional Takes Position in Coterra Energy Inc. (NYSE:CTRA)

CX Institutional purchased a new position in shares of Coterra Energy Inc. (NYSE:CTRA) in the 4th quarter, Holdings Channel.com reports. The firm purchased 10,057 shares of the company’s stock, valued at approximately $257,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Wellington Management Group LLP increased its holdings in Coterra Energy by 28.4% during the 3rd quarter. Wellington Management Group LLP now owns 71,210,013 shares of the company’s stock worth $1,705,480,000 after purchasing an additional 15,736,247 shares during the period. Charles Schwab Investment Management Inc. raised its stake in shares of Coterra Energy by 1.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 22,156,361 shares of the company’s stock worth $530,645,000 after buying an additional 305,626 shares in the last quarter. Geode Capital Management LLC increased its stake in Coterra Energy by 0.7% in the 3rd quarter. Geode Capital Management LLC now owns 19,000,702 shares of the company’s stock valued at $453,628,000 after purchasing an additional 128,397 shares in the last quarter. Victory Capital Management Inc. increased its stake in Coterra Energy by 1.2% in the 3rd quarter. Victory Capital Management Inc. now owns 16,963,084 shares of the company’s stock valued at $406,266,000 after purchasing an additional 195,966 shares in the last quarter. Finally, Disciplined Growth Investors Inc. MN increased its position in Coterra Energy by 5.6% during the third quarter. Disciplined Growth Investors Inc. MN now owns 5,348,026 shares of the company’s stock worth $128,085,000 after buying an additional 284,106 shares in the last quarter. Institutional investors and hedge funds own 87.92% of the company’s stock.

Analysts Set New Price Targets

CTRA has been the subject of several recent research reports. Wells Fargo & Company raised their price target on Coterra Energy from $32.00 to $35.00 and gave the stock an “overweight” rating in a research report on Friday, November 15th. Barclays raised their price target on Coterra Energy from $31.00 to $33.00 and gave the stock an “overweight” rating in a research report on Thursday, November 14th. Susquehanna raised their price target on Coterra Energy from $30.00 to $33.00 and gave the stock a “positive” rating in a research report on Thursday, November 14th. Morgan Stanley raised 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, Stephens raised their price objective on Coterra Energy from $28.00 to $29.00 and gave the stock an “overweight” rating in a report on Friday, November 1st. Two equities research 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 company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $33.18.

Insider Transactions at Coterra Energy

In other news, SVP Adam M. Vela sold 16,435 shares of Coterra Energy stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of $26.76, for a total transaction of $439,800.60. Following the sale, the senior vice president now directly owns 72,409 shares of the company’s stock, 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 legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Kevin William Smith sold 29,643 shares of Coterra Energy stock in a transaction dated 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. 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.

Coterra Energy Trading Down 0.6 %

Shares of CTRA opened at $29.05 on Monday. The stock’s 50-day moving average is $26.43 and its two-hundred day moving average is $25.10. The stock has a market cap of $21.40 billion, a PE ratio of 17.50, a P/E/G ratio of 0.65 and a beta of 0.27. Coterra Energy Inc. has a 12 month low of $22.30 and a 12 month 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 issued its quarterly earnings data on Thursday, October 31st. The company reported $0.32 EPS for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.03). The company had revenue of $1.36 billion for the quarter, compared to analyst estimates of $1.28 billion. Coterra Energy had a return on equity of 9.38% and a net margin of 21.91%. The company’s revenue for the quarter was up .2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.47 EPS. Equities analysts forecast that Coterra Energy Inc. will post 1.54 earnings per share for the current fiscal year.

Coterra Energy Announces Dividend

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 dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 2.89%. The ex-dividend date of this dividend was Thursday, November 14th. Coterra Energy’s payout ratio is 50.60%.

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.