Townsquare Capital LLC Increases Stake in Coterra Energy Inc. (NYSE:CTRA)

Townsquare Capital LLC raised its holdings in Coterra Energy Inc. (NYSE:CTRA) by 8.0% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 57,246 shares of the company’s stock after acquiring an additional 4,239 shares during the quarter. Townsquare Capital LLC’s holdings in Coterra Energy were worth $1,371,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of CTRA. Fortitude Family Office LLC boosted 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 purchasing an additional 567 shares during the period. Larson Financial Group LLC boosted its stake in shares of Coterra Energy by 98.0% in the 2nd 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. purchased a new position in shares of Coterra Energy in the 3rd quarter valued at about $57,000. Tobam acquired a new position in shares of Coterra Energy during the third quarter worth about $63,000. Finally, EverSource Wealth Advisors LLC increased its stake in shares of Coterra Energy by 31.0% during the first quarter. EverSource Wealth Advisors LLC now owns 2,351 shares of the company’s stock worth $64,000 after buying an additional 557 shares during the period. Institutional investors and hedge funds own 87.92% of the company’s stock.

Insider Buying and Selling

In related news, SVP Adam M. Vela sold 16,435 shares of the business’s stock in a transaction dated 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. The trade was a 18.50 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 1.70% of the stock is currently owned by corporate insiders.

Coterra Energy Stock Performance

Shares of CTRA opened at $26.72 on Monday. The stock has a market capitalization of $19.68 billion, a P/E ratio of 16.10, a P/E/G ratio of 1.74 and a beta of 0.22. 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 $28.90. The company’s fifty day moving average is $24.71 and its two-hundred day moving average is $25.37.

Coterra Energy (NYSE:CTRA) last posted its quarterly earnings results on Thursday, October 31st. The company reported $0.32 earnings per share (EPS) for the quarter, missing the consensus estimate 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 analysts’ expectations of $1.28 billion. During the same period in the prior year, the company earned $0.47 earnings per share. The company’s revenue for the quarter was up .2% on a year-over-year basis. On average, sell-side analysts predict that Coterra Energy Inc. will post 1.53 earnings per share for the current year.

Coterra Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, November 27th. Stockholders 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 3.14%. Coterra Energy’s dividend payout ratio is currently 50.60%.

Analyst Ratings Changes

Several research analysts have commented on the stock. Scotiabank lowered their price target on shares of Coterra Energy from $35.00 to $32.00 and set a “sector outperform” rating for the company in a report on Thursday, October 10th. Barclays increased their target price on Coterra Energy from $31.00 to $33.00 and gave the company an “overweight” rating in a report on Thursday, November 14th. Roth Mkm raised Coterra Energy from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $25.00 to $29.00 in a report on Tuesday, August 27th. Piper Sandler increased their price objective on Coterra Energy from $32.00 to $35.00 and gave the company an “overweight” rating in a report on Thursday, November 14th. Finally, JPMorgan Chase & Co. decreased their target price on Coterra Energy from $31.00 to $26.00 and set an “overweight” rating for the company in a research note on Thursday, September 12th. Two equities research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $32.47.

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.