Healthcare of Ontario Pension Plan Trust Fund Invests $1.71 Million in Coterra Energy Inc. (NYSE:CTRA)

Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in shares of Coterra Energy Inc. (NYSE:CTRA) during the 3rd quarter, according to its most recent filing with the SEC. The institutional investor purchased 71,300 shares of the company’s stock, valued at approximately $1,708,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in CTRA. Fortitude Family Office LLC grew its position in 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 last quarter. Larson Financial Group LLC increased its stake in Coterra Energy by 98.0% in the 2nd quarter. Larson Financial Group LLC now owns 1,081 shares of the company’s stock worth $29,000 after buying an additional 535 shares during the period. Values First Advisors Inc. purchased a new stake in Coterra Energy in the 3rd quarter valued at about $57,000. Tobam bought a new position in Coterra Energy in the 3rd quarter worth about $63,000. Finally, EverSource Wealth Advisors LLC grew its stake in Coterra Energy by 31.0% in the first quarter. EverSource Wealth Advisors LLC now owns 2,351 shares of the company’s stock worth $64,000 after purchasing an additional 557 shares in the last quarter. 87.92% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts have issued reports on CTRA shares. Citigroup increased their target price on shares of Coterra Energy from $28.00 to $32.00 and gave the stock a “buy” rating in a report on Tuesday, November 26th. Stephens raised their price target on shares of Coterra Energy from $28.00 to $29.00 and gave the company an “overweight” rating in a report on Friday, November 1st. Piper Sandler boosted their price objective on shares of Coterra Energy from $32.00 to $35.00 and gave the stock an “overweight” rating in a research note on Thursday, November 14th. Truist Financial raised their target price on shares of Coterra Energy from $31.00 to $33.00 and gave the company a “buy” rating in a research note on Thursday, November 14th. Finally, Scotiabank cut their price target on shares of Coterra Energy from $35.00 to $32.00 and set a “sector outperform” rating on the stock in a report on Thursday, October 10th. 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. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $32.47.

Insider Buying and Selling

In related news, SVP Adam M. Vela sold 16,435 shares of the stock in a transaction on Wednesday, November 20th. The shares were 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. This represents a 18.50 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. 1.70% of the stock is owned by corporate insiders.

Coterra Energy Stock Performance

Shares of NYSE CTRA opened at $26.72 on Monday. The company has a 50 day simple moving average of $24.71 and a two-hundred day simple moving average of $25.37. The stock has a market cap of $19.68 billion, a price-to-earnings ratio of 16.10, a PEG ratio of 1.74 and a beta of 0.22. The company has a current ratio of 1.61, a quick ratio of 1.56 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 posted its earnings results on Thursday, October 31st. The company reported $0.32 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.03). The business had revenue of $1.36 billion for 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 company’s revenue for the quarter was up .2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.47 earnings per share. As a group, analysts predict that Coterra Energy Inc. will post 1.53 earnings per share for the current year.

Coterra Energy Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, November 27th. Investors of record on Thursday, November 14th were issued a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a yield of 3.14%. The ex-dividend date was Thursday, November 14th. Coterra Energy’s dividend payout ratio (DPR) is 50.60%.

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.