Rockefeller Capital Management L.P. Sells 3,445 Shares of Coterra Energy Inc. (NYSE:CTRA)

Rockefeller Capital Management L.P. reduced its stake in shares of Coterra Energy Inc. (NYSE:CTRA) by 2.3% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 145,333 shares of the company’s stock after selling 3,445 shares during the period. Rockefeller Capital Management L.P.’s holdings in Coterra Energy were worth $3,481,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in CTRA. Bank of Montreal Can grew its holdings in Coterra Energy by 160.1% in the 2nd quarter. Bank of Montreal Can now owns 2,898,876 shares of the company’s stock valued at $80,154,000 after buying an additional 1,784,192 shares during the last quarter. Marshall Wace LLP lifted its stake in Coterra Energy by 5,325.5% during the second quarter. Marshall Wace LLP now owns 1,148,569 shares of the company’s stock worth $30,632,000 after purchasing an additional 1,127,399 shares during the period. American Century Companies Inc. boosted its stake in Coterra Energy by 29.1% in the 2nd quarter. American Century Companies Inc. now owns 4,498,227 shares of the company’s stock valued at $119,968,000 after buying an additional 1,013,107 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of Coterra Energy by 395.4% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 899,838 shares of the company’s stock worth $21,551,000 after purchasing an additional 718,182 shares during the last quarter. Finally, Susquehanna Fundamental Investments LLC bought a new stake in Coterra Energy during the second quarter worth about $12,898,000. 87.92% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Coterra Energy

In related news, SVP Adam M. Vela sold 16,435 shares of the 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 completion of the sale, the senior vice president now directly owns 72,409 shares of the company’s stock, valued at approximately $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 can be accessed through this link. Also, SVP Kevin William Smith sold 29,643 shares of Coterra Energy stock in a transaction dated 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 directly owns 77,075 shares in the company, valued at approximately $2,016,282. This represents a 27.78 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 1.70% of the company’s stock.

Coterra Energy Stock Performance

CTRA opened at $25.67 on Friday. The business’s fifty day moving average is $24.90 and its 200-day moving average is $25.34. The firm has a market cap of $18.91 billion, a P/E ratio of 15.46, a price-to-earnings-growth ratio of 1.70 and a beta of 0.27. 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 52-week low of $22.30 and a 52-week high of $28.90.

Coterra Energy (NYSE:CTRA) last announced its quarterly earnings data on Thursday, October 31st. The company reported $0.32 earnings per share 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 business had revenue of $1.36 billion for the quarter, compared to the consensus estimate of $1.28 billion. During the same quarter in the prior year, the company earned $0.47 earnings per share. Coterra Energy’s quarterly revenue was up .2% compared to the same quarter last year. Sell-side analysts expect that Coterra Energy Inc. will post 1.53 EPS for the current fiscal year.

Coterra Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, November 27th. Investors of record on Thursday, November 14th were issued a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a dividend yield of 3.27%. The ex-dividend date of this dividend was Thursday, November 14th. Coterra Energy’s dividend payout ratio (DPR) is 50.60%.

Analysts Set New Price Targets

CTRA has been the subject of a number of research analyst reports. Roth Capital raised shares of Coterra Energy from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, August 27th. UBS Group boosted their target price on Coterra Energy from $31.00 to $35.00 and gave the stock a “buy” rating in a research report on Friday, November 15th. Roth Mkm upgraded shares of Coterra Energy from a “neutral” rating to a “buy” rating and upped their price objective for the company from $25.00 to $29.00 in a research report on Tuesday, August 27th. JPMorgan Chase & Co. reduced their price target on shares of Coterra Energy from $31.00 to $26.00 and set an “overweight” rating for the company in a report on Thursday, September 12th. Finally, Wells Fargo & Company lifted their target price on Coterra Energy from $32.00 to $35.00 and gave the company an “overweight” rating in a research report on Friday, November 15th. Two investment 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. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $32.47.

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.