Caprock Group LLC Has $393,000 Stake in Coterra Energy Inc. (NYSE:CTRA)

Caprock Group LLC trimmed its stake in shares of Coterra Energy Inc. (NYSE:CTRA) by 57.3% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 16,393 shares of the company’s stock after selling 22,032 shares during the period. Caprock Group LLC’s holdings in Coterra Energy were worth $393,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the stock. Fortitude Family Office LLC lifted its holdings in Coterra Energy by 154.9% in the second quarter. Fortitude Family Office LLC now owns 933 shares of the company’s stock valued at $25,000 after buying an additional 567 shares during the period. Larson Financial Group LLC lifted its holdings in Coterra Energy by 98.0% in the second quarter. Larson Financial Group LLC now owns 1,081 shares of the company’s stock valued at $29,000 after buying an additional 535 shares during the period. Values First Advisors Inc. acquired a new position in Coterra Energy in the third quarter valued at approximately $57,000. Tobam acquired a new position in Coterra Energy in the third quarter valued at approximately $63,000. Finally, EverSource Wealth Advisors LLC lifted its holdings in Coterra Energy by 31.0% in the first quarter. EverSource Wealth Advisors LLC now owns 2,351 shares of the company’s stock valued at $64,000 after buying an additional 557 shares during the period. 87.92% of the stock is currently owned by institutional investors and hedge funds.

Coterra Energy Stock Up 0.7 %

Coterra Energy stock opened at $27.63 on Friday. The company has a market cap of $20.35 billion, a P/E ratio of 16.64, a price-to-earnings-growth ratio of 1.78 and a beta of 0.22. Coterra Energy Inc. has a 1-year low of $22.30 and a 1-year high of $28.90. The company has a fifty day simple moving average of $24.36 and a 200 day simple moving average of $25.45. The company has a current ratio of 1.61, a quick ratio of 1.56 and a debt-to-equity ratio of 0.16.

Coterra Energy (NYSE:CTRA) last released its earnings results 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 the consensus estimate of $1.28 billion. Coterra Energy had a net margin of 21.91% and a return on equity of 9.38%. The firm’s revenue for the quarter was up .2% on a year-over-year basis. During the same period last year, the business posted $0.47 EPS. Research analysts anticipate that Coterra Energy Inc. will post 1.53 earnings per share for the current fiscal year.

Coterra Energy Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, November 27th. Shareholders of record on Thursday, November 14th will be paid a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a yield of 3.04%. The ex-dividend date is Thursday, November 14th. Coterra Energy’s dividend payout ratio is currently 50.60%.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the stock. Wells Fargo & Company increased their target price on shares of Coterra Energy from $32.00 to $35.00 and gave the stock an “overweight” rating in a report on Friday, November 15th. Stephens increased their target price on shares of Coterra Energy from $28.00 to $29.00 and gave the stock an “overweight” rating in a report on Friday, November 1st. Piper Sandler increased their target price on shares of Coterra Energy from $32.00 to $35.00 and gave the stock an “overweight” rating in a report on Thursday, November 14th. Mizuho increased their target price on shares of Coterra Energy from $36.00 to $37.00 and gave the stock an “outperform” rating in a report on Friday, November 1st. Finally, UBS Group increased their target price on shares of Coterra Energy from $31.00 to $35.00 and gave the stock a “buy” rating in a report on Friday, November 15th. Two equities 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. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $32.41.

Insider Buying and Selling at Coterra Energy

In other Coterra Energy news, SVP Adam M. Vela sold 16,435 shares of the stock in a transaction 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 owns 72,409 shares in the company, 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 legal filing with the SEC, which is available through this link. Corporate 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.