Coterra Energy Inc. (NYSE:CTRA) Shares Acquired by Empirical Financial Services LLC d.b.a. Empirical Wealth Management

Empirical Financial Services LLC d.b.a. Empirical Wealth Management increased its position in Coterra Energy Inc. (NYSE:CTRA) by 13.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 73,570 shares of the company’s stock after buying an additional 8,464 shares during the quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management’s holdings in Coterra Energy were worth $1,879,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of CTRA. Wellington Management Group LLP lifted its holdings in shares of Coterra Energy by 28.4% during the third quarter. Wellington Management Group LLP now owns 71,210,013 shares of the company’s stock valued at $1,705,480,000 after purchasing an additional 15,736,247 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of Coterra Energy by 1.4% during the third 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 last quarter. Geode Capital Management LLC lifted its holdings in shares of Coterra Energy by 0.7% during the third quarter. Geode Capital Management LLC now owns 19,000,702 shares of the company’s stock valued at $453,628,000 after purchasing an additional 128,397 shares during the last quarter. Victory Capital Management Inc. lifted its holdings in shares of Coterra Energy by 1.2% during the third quarter. Victory Capital Management Inc. now owns 16,963,084 shares of the company’s stock valued at $406,266,000 after purchasing an additional 195,966 shares during the last quarter. Finally, Disciplined Growth Investors Inc. MN lifted its holdings in shares of Coterra Energy by 5.6% during the third quarter. Disciplined Growth Investors Inc. MN now owns 5,348,026 shares of the company’s stock valued at $128,085,000 after purchasing an additional 284,106 shares during the last quarter. Institutional investors and hedge funds own 87.92% of the company’s stock.

Insider Activity

In related news, SVP Kevin William Smith sold 29,643 shares of the stock in a transaction that occurred on Tuesday, December 3rd. The stock was 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 $2,016,282. This represents a 27.78 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, SVP Adam M. Vela sold 16,435 shares of the 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 sale, the senior vice president now owns 72,409 shares of the company’s stock, valued at approximately $1,937,664.84. The trade was a 18.50 % decrease in their position. The disclosure for this sale can be found here. 1.70% of the stock is currently owned by insiders.

Analysts Set New Price Targets

CTRA has been the subject of several analyst reports. UBS Group upped their target price on Coterra Energy from $31.00 to $35.00 and gave the company a “buy” rating in a report on Friday, November 15th. Scotiabank dropped their price target 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. Citigroup upped their price target on Coterra Energy from $28.00 to $32.00 and gave the company a “buy” rating in a research report on Tuesday, November 26th. Raymond James upped their price target on Coterra Energy from $35.00 to $41.00 and gave the company an “outperform” rating in a research report on Thursday, January 23rd. Finally, Piper Sandler dropped their price target 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 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’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $33.18.

Coterra Energy Stock Performance

Shares of NYSE CTRA opened at $27.82 on Tuesday. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.56 and a current ratio of 1.61. The firm has a market cap of $20.49 billion, a price-to-earnings ratio of 16.76, a P/E/G ratio of 0.65 and a beta of 0.27. The business’s 50-day simple moving average is $26.46 and its 200-day simple moving average is $25.10. Coterra Energy Inc. has a 52 week low of $22.30 and a 52 week high of $29.95.

Coterra Energy (NYSE:CTRA) last issued its quarterly earnings data on Thursday, October 31st. The company reported $0.32 EPS for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.03). The company had revenue of $1.36 billion for the quarter, compared to analyst estimates of $1.28 billion. Coterra Energy had a net margin of 21.91% and a return on equity of 9.38%. The business’s revenue was up .2% on a year-over-year basis. During the same period in the prior year, the company posted $0.47 EPS. As a group, equities research analysts expect that Coterra Energy Inc. will post 1.54 earnings per share for the current fiscal year.

Coterra Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, November 27th. Stockholders of record on Thursday, November 14th were issued a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 3.02%. The ex-dividend date was Thursday, November 14th. Coterra Energy’s dividend payout ratio is 50.60%.

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.