Raymond James Trust N.A. Has $294,000 Stock Position in Coterra Energy Inc. (NYSE:CTRA)

Raymond James Trust N.A. lifted its stake in Coterra Energy Inc. (NYSE:CTRA) by 30.7% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 12,296 shares of the company’s stock after buying an additional 2,890 shares during the period. Raymond James Trust N.A.’s holdings in Coterra Energy were worth $294,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Charles Schwab Investment Management Inc. raised its stake in 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 worth $530,645,000 after acquiring an additional 305,626 shares in the last quarter. Raymond James & Associates lifted its holdings in Coterra Energy by 5.0% during the 2nd quarter. Raymond James & Associates now owns 1,187,663 shares of the company’s stock valued at $31,675,000 after purchasing an additional 56,748 shares during the last quarter. MQS Management LLC acquired a new position in Coterra Energy in the third quarter valued at about $776,000. Disciplined Growth Investors Inc. MN grew its stake in Coterra Energy by 1.0% during the second quarter. Disciplined Growth Investors Inc. MN now owns 5,063,920 shares of the company’s stock worth $135,055,000 after buying an additional 51,249 shares during the last quarter. Finally, National Pension Service increased its holdings in shares of Coterra Energy by 14.0% during the third quarter. National Pension Service now owns 1,335,880 shares of the company’s stock worth $31,994,000 after buying an additional 164,048 shares in the last quarter. Institutional investors own 87.92% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently commented on CTRA shares. Piper Sandler increased their price target on Coterra Energy from $32.00 to $35.00 and gave the stock an “overweight” rating in a research report on Thursday, November 14th. Roth Mkm upgraded Coterra Energy from a “neutral” rating to a “buy” rating and increased their target price for the stock from $25.00 to $29.00 in a report on Tuesday, August 27th. Truist Financial upped their price target on shares of Coterra Energy from $31.00 to $33.00 and gave the stock a “buy” rating in a research report on Thursday, November 14th. Mizuho raised their price objective on shares of Coterra Energy from $36.00 to $37.00 and gave the company an “outperform” rating in a research report on Friday, November 1st. Finally, Roth Capital upgraded shares of Coterra Energy from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, August 27th. Two analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Coterra Energy has a consensus rating of “Moderate Buy” and a consensus target price of $32.47.

Coterra Energy Stock Performance

Shares of NYSE:CTRA opened at $26.68 on Thursday. The company has a market capitalization of $19.65 billion, a price-to-earnings ratio of 16.07, a P/E/G ratio of 1.75 and a beta of 0.22. The firm’s 50 day simple moving average is $24.52 and its 200 day simple moving average is $25.39. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.61 and a quick ratio of 1.56. Coterra Energy Inc. has a fifty-two week low of $22.30 and a fifty-two week high of $28.90.

Coterra Energy (NYSE:CTRA) last announced its quarterly 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). 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 for the quarter, compared to the consensus estimate of $1.28 billion. During the same period in the prior year, the business earned $0.47 earnings per share. The company’s revenue for the quarter was up .2% compared to the same quarter last year. As a group, sell-side analysts forecast that Coterra Energy Inc. will post 1.53 earnings per share for the current 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 issued a $0.21 dividend. The ex-dividend date was Thursday, November 14th. This represents a $0.84 annualized dividend and a dividend yield of 3.15%. Coterra Energy’s dividend payout ratio (DPR) is currently 50.60%.

Insider Transactions at Coterra Energy

In other 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 transaction of $439,800.60. Following the completion of the sale, the senior vice president now owns 72,409 shares of the company’s stock, valued at $1,937,664.84. This represents a 18.50 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.70% of the stock is currently owned by insiders.

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.