Advisors Asset Management Inc. Acquires 1,333 Shares of Coterra Energy Inc. (NYSE:CTRA)

Advisors Asset Management Inc. increased its holdings in shares of Coterra Energy Inc. (NYSE:CTRA) by 2.1% during the 3rd quarter, Holdings Channel.com reports. The fund owned 65,668 shares of the company’s stock after acquiring an additional 1,333 shares during the period. Advisors Asset Management Inc.’s holdings in Coterra Energy were worth $1,573,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Ancora Advisors LLC raised its stake in Coterra Energy by 2.2% during the first quarter. Ancora Advisors LLC now owns 97,455 shares of the company’s stock worth $2,717,000 after acquiring an additional 2,130 shares in the last quarter. B. Riley Wealth Advisors Inc. boosted its position in Coterra Energy by 8.4% in the first quarter. B. Riley Wealth Advisors Inc. now owns 15,621 shares of the company’s stock valued at $431,000 after buying an additional 1,215 shares in the last quarter. Tidal Investments LLC grew its stake in Coterra Energy by 57.1% during the first quarter. Tidal Investments LLC now owns 179,938 shares of the company’s stock worth $5,016,000 after buying an additional 65,368 shares during the last quarter. Alethea Capital Management LLC bought a new position in shares of Coterra Energy in the first quarter valued at approximately $514,000. Finally, Wahed Invest LLC raised its stake in shares of Coterra Energy by 15.5% in the first quarter. Wahed Invest LLC now owns 13,949 shares of the company’s stock valued at $389,000 after acquiring an additional 1,874 shares during the last quarter. Institutional investors own 87.92% of the company’s stock.

Insider Activity

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 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 position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 1.70% of the stock is owned by company insiders.

Coterra Energy Stock Down 2.3 %

Shares of Coterra Energy stock opened at $26.99 on Tuesday. The business has a fifty day simple moving average of $24.36 and a 200 day simple moving average of $25.41. The stock has a market cap of $19.88 billion, a PE ratio of 16.64, a price-to-earnings-growth ratio of 1.80 and a beta of 0.22. The company has a quick ratio of 1.56, a current ratio of 1.61 and a debt-to-equity ratio of 0.16. Coterra Energy Inc. has a 12 month low of $22.30 and a 12 month high of $28.90.

Coterra Energy (NYSE:CTRA) last announced its quarterly earnings results 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 during the quarter, compared to the consensus estimate of $1.28 billion. Coterra Energy had a net margin of 21.91% and a return on equity of 9.38%. The business’s revenue was up .2% compared to the same quarter last year. During the same period last year, the company earned $0.47 earnings per share. Research analysts predict that Coterra Energy Inc. will post 1.53 EPS for the current year.

Coterra Energy Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 27th. Shareholders of record on Thursday, November 14th will be issued a $0.21 dividend. The ex-dividend date is Thursday, November 14th. This represents a $0.84 annualized dividend and a yield of 3.11%. Coterra Energy’s dividend payout ratio (DPR) is presently 50.60%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the company. Wells Fargo & Company raised their price target on Coterra Energy from $32.00 to $35.00 and gave the company an “overweight” rating in a report on Friday, November 15th. Scotiabank lowered their target price on Coterra Energy from $35.00 to $32.00 and set a “sector outperform” rating for the company in a research note on Thursday, October 10th. Morgan Stanley upped their price target on shares of Coterra Energy from $27.00 to $29.00 and gave the stock an “equal weight” rating in a research report on Thursday, November 14th. Truist Financial raised their price objective 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. Finally, JPMorgan Chase & Co. reduced their target price on shares of Coterra Energy from $31.00 to $26.00 and set an “overweight” rating on the stock in a research report on Thursday, September 12th. Two equities research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $32.41.

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.