Coterra Energy Inc. (NYSE:CTRA) Shares Sold by Intech Investment Management LLC

Intech Investment Management LLC lessened its holdings in shares of Coterra Energy Inc. (NYSE:CTRA) by 73.0% in the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 43,298 shares of the company’s stock after selling 117,199 shares during the quarter. Intech Investment Management LLC’s holdings in Coterra Energy were worth $1,037,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Fortitude Family Office LLC raised its stake in shares of Coterra Energy by 154.9% in the 2nd quarter. Fortitude Family Office LLC now owns 933 shares of the company’s stock valued at $25,000 after acquiring an additional 567 shares during the period. Larson Financial Group LLC lifted its stake in shares of Coterra Energy by 98.0% during the second quarter. Larson Financial Group LLC now owns 1,081 shares of the company’s stock worth $29,000 after purchasing an additional 535 shares in the last quarter. Values First Advisors Inc. purchased a new stake in shares of Coterra Energy in the third quarter worth about $57,000. Tobam acquired a new stake in shares of Coterra Energy in the third quarter valued at about $63,000. Finally, EverSource Wealth Advisors LLC raised its holdings in shares of Coterra Energy by 31.0% during the 1st quarter. EverSource Wealth Advisors LLC now owns 2,351 shares of the company’s stock valued at $64,000 after buying an additional 557 shares during the period. 87.92% of the stock is owned by institutional investors and hedge funds.

Coterra Energy Trading Down 0.4 %

Coterra Energy stock opened at $26.68 on Thursday. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.56 and a current ratio of 1.61. Coterra Energy Inc. has a 1 year low of $22.30 and a 1 year high of $28.90. The firm’s 50-day moving average is $24.52 and its 200-day moving average is $25.39. The company has a market cap of $19.65 billion, a P/E ratio of 16.08, a PEG ratio of 1.75 and a beta of 0.22.

Coterra Energy (NYSE:CTRA) last issued its 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 analyst estimates 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% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.47 earnings per share. On average, equities analysts expect that Coterra Energy Inc. will post 1.53 earnings per share for the current year.

Coterra Energy Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, November 27th. Stockholders of record on Thursday, November 14th were issued a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a dividend yield of 3.15%. The ex-dividend date of this dividend was Thursday, November 14th. Coterra Energy’s dividend payout ratio (DPR) is 50.60%.

Insider Transactions at Coterra Energy

In other news, SVP Adam M. Vela sold 16,435 shares of the business’s stock in a transaction that occurred on Wednesday, November 20th. The stock was 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 directly owns 72,409 shares in the company, 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 filing with the SEC, which is accessible through the SEC website. Insiders own 1.70% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the company. Wells Fargo & Company upped their price target on Coterra Energy from $32.00 to $35.00 and gave the stock an “overweight” rating in a report on Friday, November 15th. Citigroup raised their price target on shares of Coterra Energy from $28.00 to $32.00 and gave the company a “buy” rating in a report on Tuesday. Roth Capital raised shares of Coterra Energy from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, August 27th. Piper Sandler raised their target price on Coterra Energy from $32.00 to $35.00 and gave the company an “overweight” rating in a research note on Thursday, November 14th. Finally, JPMorgan Chase & Co. cut their price target on Coterra Energy from $31.00 to $26.00 and set an “overweight” rating on the stock in a research note on Thursday, September 12th. Two investment analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Coterra Energy currently has a consensus rating of “Moderate Buy” and an average target price of $32.47.

Coterra Energy 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.