Coterra Energy Inc. (NYSE:CTRA) Shares Purchased by Kovitz Investment Group Partners LLC

Kovitz Investment Group Partners LLC raised its stake in Coterra Energy Inc. (NYSE:CTRA) by 4.1% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 149,945 shares of the company’s stock after purchasing an additional 5,877 shares during the period. Kovitz Investment Group Partners LLC’s holdings in Coterra Energy were worth $3,394,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently made changes to their positions in the company. Charles Schwab Investment Management Inc. boosted its position in shares of Coterra Energy by 1.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 22,156,361 shares of the company’s stock valued at $530,645,000 after purchasing an additional 305,626 shares during the period. Hartford Funds Management Co LLC acquired a new stake in shares of Coterra Energy in the third quarter valued at approximately $575,000. HITE Hedge Asset Management LLC grew its position in shares of Coterra Energy by 406.3% during the third quarter. HITE Hedge Asset Management LLC now owns 707,729 shares of the company’s stock worth $16,950,000 after acquiring an additional 567,934 shares during the last quarter. Raymond James & Associates increased its holdings in shares of Coterra Energy by 5.0% in the 2nd quarter. Raymond James & Associates now owns 1,187,663 shares of the company’s stock valued at $31,675,000 after acquiring an additional 56,748 shares during the period. Finally, MQS Management LLC purchased a new stake in Coterra Energy in the 3rd quarter valued at $776,000. Hedge funds and other institutional investors own 87.92% of the company’s stock.

Analysts Set New Price Targets

Several research firms have commented on CTRA. Scotiabank reduced their price objective on Coterra Energy from $35.00 to $32.00 and set a “sector outperform” rating for the company in a research note on Thursday, October 10th. Truist Financial increased their price target on Coterra Energy from $31.00 to $33.00 and gave the stock a “buy” rating in a report on Thursday, November 14th. Mizuho boosted their price objective on shares of Coterra Energy from $36.00 to $37.00 and gave the company an “outperform” rating in a research note on Friday, November 1st. Roth Capital upgraded shares of Coterra Energy from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, August 27th. Finally, Citigroup lifted their target price on shares of Coterra Energy from $28.00 to $32.00 and gave the company a “buy” rating in a report on Tuesday, November 26th. 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’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $32.47.

Coterra Energy Trading Down 2.8 %

Coterra Energy stock opened at $24.93 on Monday. The stock has a market cap of $18.36 billion, a PE ratio of 15.02, a P/E/G ratio of 1.67 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 stock has a 50-day moving average price of $24.92 and a 200 day moving average price of $25.29. 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 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). Coterra Energy had a net margin of 21.91% and a return on equity of 9.38%. The firm had revenue of $1.36 billion during the quarter, compared to analyst estimates of $1.28 billion. During the same period in the prior year, the firm earned $0.47 EPS. The business’s quarterly revenue was up .2% on a year-over-year basis. Equities research analysts predict that Coterra Energy Inc. will post 1.53 earnings per share for the current fiscal year.

Coterra Energy Dividend Announcement

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 dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 3.37%. The ex-dividend date was Thursday, November 14th. Coterra Energy’s dividend payout ratio is presently 50.60%.

Insider Transactions at Coterra Energy

In related news, SVP Kevin William Smith sold 29,643 shares of the firm’s stock in a transaction that occurred on Tuesday, December 3rd. The shares were 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 of the company’s stock, 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 legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Adam M. Vela sold 16,435 shares of the company’s stock in a transaction that occurred on 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 directly owns 72,409 shares of the company’s stock, valued at $1,937,664.84. This trade 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.