M.E. Allison & CO. Inc. Acquires Shares of 8,486 Coterra Energy Inc. (NYSE:CTRA)

M.E. Allison & CO. Inc. purchased a new stake in Coterra Energy Inc. (NYSE:CTRA) in the fourth quarter, Holdings Channel reports. The firm purchased 8,486 shares of the company’s stock, valued at approximately $217,000.

Several other hedge funds and other institutional investors have also recently made changes to their positions in CTRA. Wellington Management Group LLP raised its stake in Coterra Energy by 28.4% during the third quarter. Wellington Management Group LLP now owns 71,210,013 shares of the company’s stock worth $1,705,480,000 after purchasing an additional 15,736,247 shares during the period. Holocene Advisors LP raised its position in shares of Coterra Energy by 187.2% during the 3rd quarter. Holocene Advisors LP now owns 4,533,269 shares of the company’s stock valued at $108,572,000 after buying an additional 2,954,675 shares during the period. Bank of Montreal Can lifted its holdings in Coterra Energy by 160.1% in the second quarter. Bank of Montreal Can now owns 2,898,876 shares of the company’s stock valued at $80,154,000 after acquiring an additional 1,784,192 shares during the last quarter. Weiss Asset Management LP purchased a new position in Coterra Energy in the third quarter worth approximately $28,380,000. Finally, 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. Institutional investors and hedge funds own 87.92% of the company’s stock.

Insiders Place Their Bets

In other Coterra Energy news, SVP Adam M. Vela sold 16,435 shares of the firm’s stock in a transaction that occurred 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 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 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 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 position. The disclosure for this sale can be found here. 1.70% of the stock is owned by company insiders.

Coterra Energy Stock Performance

Shares of CTRA opened at $29.51 on Tuesday. The stock has a 50-day simple moving average of $26.13 and a 200-day simple moving average of $25.02. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.56 and a current ratio of 1.61. Coterra Energy Inc. has a 1 year low of $22.30 and a 1 year high of $29.95. The stock has a market capitalization of $21.74 billion, a PE ratio of 17.78, a PEG ratio of 0.98 and a beta of 0.27.

Coterra Energy (NYSE:CTRA) last issued 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). Coterra Energy had a return on equity of 9.38% and a net margin of 21.91%. The firm had revenue of $1.36 billion during the quarter, compared to analysts’ expectations of $1.28 billion. During the same quarter in the prior year, the firm earned $0.47 EPS. The firm’s revenue was up .2% compared to the same quarter last year. On average, analysts predict that Coterra Energy Inc. will post 1.54 earnings per share for the current fiscal year.

Coterra Energy Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, November 27th. Shareholders of record on Thursday, November 14th were paid a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a yield of 2.85%. The ex-dividend date was Thursday, November 14th. Coterra Energy’s dividend payout ratio is presently 50.60%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the company. Barclays increased their price target on Coterra Energy from $31.00 to $33.00 and gave the stock an “overweight” rating in a report on Thursday, November 14th. Truist Financial increased their target price on shares of Coterra Energy from $33.00 to $37.00 and gave the stock a “buy” rating in a research note on Monday, January 13th. Mizuho boosted their price target on shares of Coterra Energy from $37.00 to $40.00 and gave the company an “outperform” rating in a research note on Monday, December 16th. Susquehanna increased their price objective on shares of Coterra Energy from $30.00 to $33.00 and gave the stock a “positive” rating in a research report on Thursday, November 14th. Finally, Piper Sandler cut their target price on Coterra Energy from $35.00 to $33.00 and set an “overweight” rating on the stock in a research report on Tuesday, December 17th. Two research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $32.76.

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.