Quantbot Technologies LP Invests $193,000 in Coterra Energy Inc. (NYSE:CTRA)

Quantbot Technologies LP bought a new stake in Coterra Energy Inc. (NYSE:CTRA) in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 8,059 shares of the company’s stock, valued at approximately $193,000.

Other large investors have also recently added to or reduced their stakes in the company. Bank of Montreal Can increased its holdings in shares of Coterra Energy by 160.1% during the 2nd quarter. Bank of Montreal Can now owns 2,898,876 shares of the company’s stock worth $80,154,000 after buying an additional 1,784,192 shares during the last quarter. Marshall Wace LLP increased its stake in Coterra Energy by 5,325.5% during the second quarter. Marshall Wace LLP now owns 1,148,569 shares of the company’s stock worth $30,632,000 after acquiring an additional 1,127,399 shares during the last quarter. American Century Companies Inc. raised its holdings in shares of Coterra Energy by 29.1% in the 2nd quarter. American Century Companies Inc. now owns 4,498,227 shares of the company’s stock worth $119,968,000 after purchasing an additional 1,013,107 shares during the period. Susquehanna Fundamental Investments LLC acquired a new position in shares of Coterra Energy in the 2nd quarter valued at about $12,898,000. Finally, US Bancorp DE grew its holdings in shares of Coterra Energy by 30.0% during the 3rd quarter. US Bancorp DE now owns 1,632,233 shares of the company’s stock worth $39,092,000 after purchasing an additional 376,607 shares during the period. 87.92% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts recently commented on the stock. Morgan Stanley raised their price target on shares of Coterra Energy from $27.00 to $29.00 and gave the company an “equal weight” rating in a report on Thursday, November 14th. UBS Group lifted their target price on shares of Coterra Energy from $31.00 to $35.00 and gave the company a “buy” rating in a report on Friday, November 15th. Wells Fargo & Company increased 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 cut their price objective 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. Finally, Susquehanna upped their target price on Coterra Energy from $30.00 to $33.00 and gave the stock a “positive” rating in a research report on Thursday, November 14th. Two equities research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Coterra Energy has an average rating of “Moderate Buy” and an average target price of $32.47.

Coterra Energy Price Performance

Shares of CTRA stock opened at $25.67 on Friday. The firm has a market cap of $18.91 billion, a P/E ratio of 15.46, a P/E/G ratio of 1.70 and a beta of 0.27. The firm has a fifty day moving average of $24.90 and a two-hundred day moving average 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 Inc. has a 1-year low of $22.30 and a 1-year high of $28.90.

Coterra Energy (NYSE:CTRA) last announced its quarterly earnings data on Thursday, October 31st. The company reported $0.32 earnings per share 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 net margin of 21.91% and a return on equity of 9.38%. The firm’s quarterly revenue was up .2% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.47 earnings per share. As a group, research analysts anticipate that Coterra Energy Inc. will post 1.53 earnings per share for the current fiscal year.

Coterra Energy Announces Dividend

The firm also recently disclosed 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 3.27%. The ex-dividend date of this dividend was Thursday, November 14th. Coterra Energy’s dividend payout ratio is presently 50.60%.

Insider Buying and Selling at Coterra Energy

In other Coterra Energy news, SVP Kevin William Smith sold 29,643 shares of the firm’s stock in a transaction on 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 transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, SVP Adam M. Vela sold 16,435 shares of the company’s 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 of the company’s stock, valued at $1,937,664.84. This represents a 18.50 % decrease in their position. The disclosure for this sale can be found here. 1.70% of the stock is owned by insiders.

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.