Coterra Energy Inc. (NYSE:CTRA) Position Trimmed by Vestcor Inc

Vestcor Inc lowered its stake in Coterra Energy Inc. (NYSE:CTRA) by 21.9% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 15,342 shares of the company’s stock after selling 4,300 shares during the period. Vestcor Inc’s holdings in Coterra Energy were worth $367,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Wellington Management Group LLP grew its holdings in shares of Coterra Energy by 28.4% in the 3rd quarter. Wellington Management Group LLP now owns 71,210,013 shares of the company’s stock worth $1,705,480,000 after acquiring an additional 15,736,247 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in 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 during the period. Victory Capital Management Inc. lifted its stake in Coterra Energy by 1.2% during the third quarter. Victory Capital Management Inc. now owns 16,963,084 shares of the company’s stock valued at $406,266,000 after buying an additional 195,966 shares in the last quarter. King Luther Capital Management Corp boosted its holdings in shares of Coterra Energy by 4.4% in the second quarter. King Luther Capital Management Corp now owns 6,783,690 shares of the company’s stock worth $180,921,000 after buying an additional 285,774 shares during the period. Finally, Disciplined Growth Investors Inc. MN increased its position in shares of Coterra Energy by 1.0% in the second quarter. Disciplined Growth Investors Inc. MN now owns 5,063,920 shares of the company’s stock worth $135,055,000 after acquiring an additional 51,249 shares in the last quarter. Institutional investors and hedge funds own 87.92% of the company’s stock.

Insiders Place Their Bets

In other news, SVP Adam M. Vela sold 16,435 shares of the company’s stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $26.76, for a total transaction of $439,800.60. Following the completion of the transaction, the senior vice president now owns 72,409 shares of the company’s stock, valued at approximately $1,937,664.84. This represents a 18.50 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 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. This trade represents a 27.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 1.70% of the company’s stock.

Coterra Energy Trading Down 1.3 %

Shares of CTRA stock opened at $25.33 on Friday. Coterra Energy Inc. has a 12 month low of $22.30 and a 12 month high of $28.90. The company has a market cap of $18.65 billion, a PE ratio of 15.26, a price-to-earnings-growth ratio of 1.64 and a beta of 0.27. 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 business’s 50 day moving average is $25.00 and its two-hundred day moving average is $25.24.

Coterra Energy (NYSE:CTRA) last announced its earnings results on Thursday, October 31st. The company reported $0.32 EPS for the quarter, missing the consensus estimate of $0.35 by ($0.03). The firm had revenue of $1.36 billion during 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%. The business’s revenue was up .2% compared to the same quarter last year. During the same quarter last year, the business earned $0.47 EPS. Equities analysts predict that Coterra Energy Inc. will post 1.53 EPS for the current year.

Coterra Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, November 27th. Shareholders of record on Thursday, November 14th were issued a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a yield of 3.32%. The ex-dividend date was Thursday, November 14th. Coterra Energy’s dividend payout ratio (DPR) is currently 50.60%.

Analyst Ratings Changes

CTRA has been the subject of a number of recent analyst reports. Barclays raised their price objective on shares of Coterra Energy from $31.00 to $33.00 and gave the stock an “overweight” rating in a research note on Thursday, November 14th. Piper Sandler lifted their price target on Coterra Energy from $32.00 to $35.00 and gave the company an “overweight” rating in a report on Thursday, November 14th. Scotiabank dropped their price target on Coterra Energy from $35.00 to $32.00 and set a “sector outperform” rating on the stock in a research report on Thursday, October 10th. Roth Capital upgraded Coterra Energy from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, August 27th. Finally, Roth Mkm upgraded Coterra Energy from a “neutral” rating to a “buy” rating and upped their target price 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 issued a strong buy rating to the company. Based on data from MarketBeat, the company presently 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.