Rockefeller Capital Management L.P. Lowers Position in Coterra Energy Inc. (NYSE:CTRA)

Rockefeller Capital Management L.P. lowered its position in Coterra Energy Inc. (NYSE:CTRA) by 2.3% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 145,333 shares of the company’s stock after selling 3,445 shares during the period. Rockefeller Capital Management L.P.’s holdings in Coterra Energy were worth $3,481,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the business. Larson Financial Group LLC grew its holdings 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 acquiring an additional 535 shares during the last quarter. Values First Advisors Inc. purchased a new stake in shares of Coterra Energy in the 3rd quarter worth about $57,000. Tobam purchased a new position in shares of Coterra Energy during the third quarter valued at about $63,000. Capital Performance Advisors LLP purchased a new stake in Coterra Energy in the third quarter worth about $67,000. Finally, Family Firm Inc. bought a new stake in shares of Coterra Energy during the 2nd quarter valued at $68,000. 87.92% of the stock is owned by hedge funds and other institutional investors.

Coterra Energy Trading Up 0.1 %

NYSE:CTRA opened at $25.67 on Friday. The company has a market capitalization of $18.91 billion, a P/E ratio of 15.46, a PEG ratio of 1.70 and a beta of 0.27. The company has a current ratio of 1.61, a quick ratio of 1.56 and a debt-to-equity ratio of 0.16. The firm has a fifty day simple moving average of $24.90 and a 200-day simple moving average of $25.34. Coterra Energy Inc. has a 12 month low of $22.30 and a 12 month high of $28.90.

Coterra Energy (NYSE:CTRA) last released its quarterly earnings data on Thursday, October 31st. The company reported $0.32 earnings per share for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.03). The business had revenue of $1.36 billion during the quarter, compared to analyst estimates of $1.28 billion. Coterra Energy had a return on equity of 9.38% and a net margin of 21.91%. The firm’s revenue was up .2% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.47 EPS. On average, equities research analysts anticipate that Coterra Energy Inc. will post 1.53 earnings per share for the current year.

Coterra Energy Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, November 27th. Shareholders of record on Thursday, November 14th were paid a dividend of $0.21 per share. The ex-dividend date was Thursday, November 14th. This represents a $0.84 annualized dividend and a yield of 3.27%. Coterra Energy’s dividend payout ratio (DPR) is presently 50.60%.

Analyst Ratings Changes

CTRA has been the subject of a number of recent research reports. Piper Sandler lifted their price objective on Coterra Energy from $32.00 to $35.00 and gave the company an “overweight” rating in a research note on Thursday, November 14th. Stephens upped their price target on Coterra Energy from $28.00 to $29.00 and gave the company an “overweight” rating in a report on Friday, November 1st. Morgan Stanley boosted their price objective on shares of Coterra Energy from $27.00 to $29.00 and gave the company an “equal weight” rating in a research report on Thursday, November 14th. Citigroup upped their price target on shares of Coterra Energy from $28.00 to $32.00 and gave the stock a “buy” rating in a research report on Tuesday, November 26th. Finally, 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. Two research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $32.47.

Insider Transactions at Coterra Energy

In other news, SVP Kevin William Smith sold 29,643 shares of the stock in a transaction dated 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 sale, the senior vice president now owns 77,075 shares in the company, valued at approximately $2,016,282. This represents a 27.78 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Adam M. Vela sold 16,435 shares of Coterra Energy stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of $26.76, for a total value of $439,800.60. Following the completion of the sale, the senior vice president now directly owns 72,409 shares in the company, valued at $1,937,664.84. This represents a 18.50 % decrease in their position. The disclosure for this sale can be found here. Insiders own 1.70% of the company’s stock.

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.