Point72 DIFC Ltd Boosts Stock Position in Coterra Energy Inc. (NYSE:CTRA)

Point72 DIFC Ltd grew its holdings in Coterra Energy Inc. (NYSE:CTRA) by 102.5% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 189,117 shares of the company’s stock after purchasing an additional 95,718 shares during the period. Point72 DIFC Ltd’s holdings in Coterra Energy were worth $4,529,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in CTRA. Investment Management Corp of Ontario increased its position in shares of Coterra Energy by 47.1% during the third quarter. Investment Management Corp of Ontario now owns 24,659 shares of the company’s stock worth $591,000 after acquiring an additional 7,900 shares during the period. HITE Hedge Asset Management LLC grew its stake in Coterra Energy by 406.3% in the third quarter. HITE Hedge Asset Management LLC now owns 707,729 shares of the company’s stock worth $16,950,000 after purchasing an additional 567,934 shares in the last quarter. Holocene Advisors LP increased its holdings in Coterra Energy by 187.2% during the 3rd quarter. Holocene Advisors LP now owns 4,533,269 shares of the company’s stock worth $108,572,000 after purchasing an additional 2,954,675 shares during the period. Clearline Capital LP bought a new stake in Coterra Energy during the 3rd quarter valued at $1,819,000. Finally, Benjamin Edwards Inc. lifted its holdings in shares of Coterra Energy by 376,945.8% in the 3rd quarter. Benjamin Edwards Inc. now owns 90,491 shares of the company’s stock worth $2,167,000 after buying an additional 90,467 shares during the period. 87.92% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

CTRA has been the topic of several research reports. Stephens raised their price target on Coterra Energy from $28.00 to $29.00 and gave the company an “overweight” rating in a research note on Friday, November 1st. Susquehanna boosted their price target on shares of Coterra Energy from $30.00 to $33.00 and gave the company a “positive” rating in a report on Thursday, November 14th. Scotiabank lowered their price target 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. Mizuho lifted their price objective on shares of Coterra Energy from $36.00 to $37.00 and gave the company an “outperform” rating in a report on Friday, November 1st. Finally, JPMorgan Chase & Co. lowered their target price on Coterra Energy from $31.00 to $26.00 and set an “overweight” rating for the company in a report on Thursday, September 12th. Two investment analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $32.47.

Coterra Energy Stock Performance

CTRA opened at $26.16 on Wednesday. The firm’s 50-day moving average price is $24.80 and its 200-day moving average price is $25.34. The company has a market cap of $19.27 billion, a P/E ratio of 15.76, a price-to-earnings-growth ratio of 1.70 and a beta of 0.27. The company has a quick ratio of 1.56, a current ratio of 1.61 and a debt-to-equity ratio of 0.16. Coterra Energy Inc. has a 52-week low of $22.30 and a 52-week high of $28.90.

Coterra Energy (NYSE:CTRA) last posted its quarterly 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 company had revenue of $1.36 billion during the quarter, compared to analysts’ expectations of $1.28 billion. Coterra Energy had a return on equity of 9.38% and a net margin of 21.91%. The company’s quarterly revenue was up .2% on a year-over-year basis. During the same period in the prior year, the business posted $0.47 EPS. As a group, equities analysts anticipate that Coterra Energy Inc. will post 1.53 EPS for the current fiscal year.

Coterra Energy Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, November 27th. Shareholders of record on Thursday, November 14th were given a dividend of $0.21 per share. The ex-dividend date was Thursday, November 14th. This represents a $0.84 dividend on an annualized basis and a yield of 3.21%. Coterra Energy’s dividend payout ratio is currently 50.60%.

Insider Buying and Selling at Coterra Energy

In related news, SVP Adam M. Vela sold 16,435 shares of the firm’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 completion of the transaction, the senior vice president now owns 72,409 shares of the company’s stock, valued at $1,937,664.84. This trade represents a 18.50 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Kevin William Smith sold 29,643 shares of the company’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 sale, the senior vice president now directly owns 77,075 shares in the company, valued at approximately $2,016,282. The trade was a 27.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 1.70% of the company’s stock.

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.