Coterra Energy Inc. (NYSE:CTRA) Stake Boosted by Qsemble Capital Management LP

Qsemble Capital Management LP grew its position in Coterra Energy Inc. (NYSE:CTRA) by 870.4% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 183,799 shares of the company’s stock after buying an additional 164,858 shares during the quarter. Coterra Energy makes up approximately 0.8% of Qsemble Capital Management LP’s portfolio, making the stock its 27th largest position. Qsemble Capital Management LP’s holdings in Coterra Energy were worth $4,402,000 at the end of the most recent reporting period.

Several other institutional investors have also made changes to their positions in the company. Charles Schwab Investment Management Inc. increased its holdings in shares of Coterra Energy by 1.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 22,156,361 shares of the company’s stock valued at $530,645,000 after purchasing an additional 305,626 shares during the period. Victory Capital Management Inc. lifted its position 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 worth $406,266,000 after buying an additional 195,966 shares in the last quarter. King Luther Capital Management Corp boosted its stake in shares of Coterra Energy by 4.4% during the 2nd quarter. King Luther Capital Management Corp now owns 6,783,690 shares of the company’s stock valued at $180,921,000 after buying an additional 285,774 shares during the period. Disciplined Growth Investors Inc. MN grew its holdings in shares of Coterra Energy by 1.0% during the 2nd quarter. Disciplined Growth Investors Inc. MN now owns 5,063,920 shares of the company’s stock valued at $135,055,000 after acquiring an additional 51,249 shares in the last quarter. Finally, American Century Companies Inc. grew its holdings in shares of Coterra Energy by 29.1% during the 2nd quarter. American Century Companies Inc. now owns 4,498,227 shares of the company’s stock valued at $119,968,000 after acquiring an additional 1,013,107 shares in the last quarter. 87.92% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts recently issued reports on the company. Truist Financial lifted their price objective on Coterra Energy from $31.00 to $33.00 and gave the company a “buy” rating in a research report on Thursday, November 14th. Susquehanna lifted their price objective 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. Stephens increased their price objective on Coterra Energy from $28.00 to $29.00 and gave the company an “overweight” rating in a report on Friday, November 1st. Scotiabank reduced their target price on Coterra Energy from $35.00 to $32.00 and set a “sector outperform” rating for the company in a report on Thursday, October 10th. Finally, Roth Mkm upgraded Coterra Energy from a “neutral” rating to a “buy” rating and increased their price target for the company from $25.00 to $29.00 in a report on Tuesday, August 27th. Two equities research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Coterra Energy currently has a consensus rating of “Moderate Buy” and a consensus target price of $32.41.

Coterra Energy Stock Performance

Coterra Energy stock traded down $0.16 during midday trading on Monday, hitting $27.47. The company’s stock had a trading volume of 604,810 shares, compared to its average volume of 6,230,249. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.61 and a quick ratio of 1.56. The company has a market cap of $20.23 billion, a price-to-earnings ratio of 16.64, a PEG ratio of 1.80 and a beta of 0.22. Coterra Energy Inc. has a 1-year low of $22.30 and a 1-year high of $28.90. The company has a 50-day moving average price of $24.36 and a two-hundred day moving average price of $25.41.

Coterra Energy (NYSE:CTRA) last released its quarterly 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). 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 in the previous year, the firm posted $0.47 earnings per share. The firm’s quarterly revenue was up .2% on a year-over-year basis. As a group, sell-side analysts predict that Coterra Energy Inc. will post 1.53 earnings per share for the current year.

Coterra Energy Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 27th. Stockholders of record on Thursday, November 14th will be given a $0.21 dividend. This represents a $0.84 annualized dividend and a dividend yield of 3.06%. The ex-dividend date of this dividend is Thursday, November 14th. Coterra Energy’s payout ratio is presently 50.60%.

Insider Transactions at Coterra Energy

In other Coterra Energy 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 value of $439,800.60. Following the transaction, the senior vice president now owns 72,409 shares in the company, valued at $1,937,664.84. The trade was a 18.50 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 1.70% of the stock is currently owned by insiders.

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.