Coterra Energy Inc. (NYSE:CTRA) Shares Purchased by Glenmede Trust Co. NA

Glenmede Trust Co. NA raised its stake in shares of Coterra Energy Inc. (NYSE:CTRA) by 9.9% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 19,045 shares of the company’s stock after purchasing an additional 1,719 shares during the period. Glenmede Trust Co. NA’s holdings in Coterra Energy were worth $456,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of CTRA. Fifth Third Bancorp increased its position in Coterra Energy by 0.6% during the 2nd quarter. Fifth Third Bancorp now owns 71,138 shares of the company’s stock worth $1,897,000 after purchasing an additional 399 shares in the last quarter. TCW Group Inc. increased its position in Coterra Energy by 4.0% during the 2nd quarter. TCW Group Inc. now owns 10,447 shares of the company’s stock worth $279,000 after purchasing an additional 404 shares in the last quarter. Cornercap Investment Counsel Inc. increased its position in Coterra Energy by 0.7% during the 2nd quarter. Cornercap Investment Counsel Inc. now owns 66,280 shares of the company’s stock worth $1,768,000 after purchasing an additional 436 shares in the last quarter. Bruce G. Allen Investments LLC increased its position in Coterra Energy by 17.4% during the 3rd quarter. Bruce G. Allen Investments LLC now owns 3,033 shares of the company’s stock worth $73,000 after purchasing an additional 450 shares in the last quarter. Finally, Venturi Wealth Management LLC increased its position in Coterra Energy by 1.4% during the 3rd quarter. Venturi Wealth Management LLC now owns 33,559 shares of the company’s stock worth $804,000 after purchasing an additional 474 shares in the last quarter. Institutional investors and hedge funds own 87.92% of the company’s stock.

Coterra Energy Stock Performance

Coterra Energy stock opened at $25.63 on Thursday. The company has a market cap of $18.88 billion, a PE ratio of 15.44, a P/E/G ratio of 1.70 and a beta of 0.27. Coterra Energy Inc. has a 12 month low of $22.30 and a 12 month high of $28.90. The company has a fifty day moving average price of $24.85 and a two-hundred day moving average price of $25.34. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.61 and a quick ratio of 1.56.

Coterra Energy (NYSE:CTRA) last posted its quarterly 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). 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 period last year, the firm posted $0.47 earnings per share. The company’s quarterly revenue was up .2% on a year-over-year basis. Research analysts expect that Coterra Energy Inc. will post 1.53 earnings per share for the current year.

Coterra Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, November 27th. Stockholders of record on Thursday, November 14th were issued a $0.21 dividend. This represents a $0.84 annualized dividend and a dividend yield of 3.28%. The ex-dividend date was Thursday, November 14th. Coterra Energy’s dividend payout ratio (DPR) is presently 50.60%.

Insider Activity

In other news, SVP Kevin William Smith sold 29,643 shares of the business’s stock in a transaction on Tuesday, December 3rd. The shares were sold at an average price of $26.16, for a total transaction of $775,460.88. Following the completion of the transaction, the senior vice president now owns 77,075 shares of the company’s stock, valued at approximately $2,016,282. The trade was a 27.78 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, SVP Adam M. Vela sold 16,435 shares of the business’s 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 transaction, the senior vice president now directly owns 72,409 shares of the company’s stock, valued at approximately $1,937,664.84. This trade represents a 18.50 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 1.70% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently issued reports on the stock. Scotiabank dropped their target price on shares of Coterra Energy from $35.00 to $32.00 and set a “sector outperform” rating for the company in a research report on Thursday, October 10th. Piper Sandler increased 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. Morgan Stanley increased their target price on Coterra Energy from $27.00 to $29.00 and gave the company an “equal weight” rating in a research note on Thursday, November 14th. UBS Group increased their target price on Coterra Energy from $31.00 to $35.00 and gave the company a “buy” rating in a research note on Friday, November 15th. Finally, Citigroup increased their target price on Coterra Energy from $28.00 to $32.00 and gave the company a “buy” rating in a research note on Tuesday, November 26th. Two equities research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Coterra Energy presently has an average rating of “Moderate Buy” and a consensus target price of $32.47.

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.