Coterra Energy Inc. (NYSE:CTRA) Shares Purchased by Fmr LLC

Fmr LLC boosted its position in Coterra Energy Inc. (NYSE:CTRA) by 11.7% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 911,700 shares of the company’s stock after buying an additional 95,539 shares during the period. Fmr LLC’s holdings in Coterra Energy were worth $21,835,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the company. Charles Schwab Investment Management Inc. boosted its holdings in shares of Coterra Energy by 1.4% in 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 acquiring an additional 305,626 shares in the last quarter. Victory Capital Management Inc. lifted its position in Coterra Energy by 1.2% in 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 period. King Luther Capital Management Corp boosted its holdings in Coterra Energy by 4.4% in the 2nd quarter. King Luther Capital Management Corp now owns 6,783,690 shares of the company’s stock valued at $180,921,000 after purchasing an additional 285,774 shares in the last quarter. Disciplined Growth Investors Inc. MN increased its position in Coterra Energy by 1.0% during the 2nd quarter. Disciplined Growth Investors Inc. MN now owns 5,063,920 shares of the company’s stock worth $135,055,000 after purchasing an additional 51,249 shares during the period. Finally, American Century Companies Inc. raised its stake in shares of Coterra Energy by 29.1% during the 2nd quarter. American Century Companies Inc. now owns 4,498,227 shares of the company’s stock worth $119,968,000 after buying an additional 1,013,107 shares in the last quarter. 87.92% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, SVP Kevin William Smith sold 29,643 shares of the stock in a transaction dated Tuesday, December 3rd. The shares were sold at an average price of $26.16, for a total transaction of $775,460.88. Following the transaction, the senior vice president now directly 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 legal filing with the SEC, which is available at this link. Also, SVP Adam M. Vela sold 16,435 shares of the firm’s 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 in the company, valued at $1,937,664.84. This represents a 18.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.70% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of research firms recently weighed in on CTRA. Roth Capital upgraded Coterra Energy from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, August 27th. Roth Mkm upgraded shares of Coterra Energy from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $25.00 to $29.00 in a research report on Tuesday, August 27th. Citigroup increased their price target on shares of Coterra Energy from $28.00 to $32.00 and gave the company a “buy” rating in a report on Tuesday, November 26th. Barclays raised their price objective on shares of Coterra Energy from $31.00 to $33.00 and gave the company an “overweight” rating in a research note on Thursday, November 14th. Finally, Morgan Stanley upped their target price on shares of Coterra Energy from $27.00 to $29.00 and gave the stock an “equal weight” rating in a research report on Thursday, November 14th. Two equities research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Coterra Energy presently has an average rating of “Moderate Buy” and an average price target of $32.47.

Coterra Energy Stock Performance

NYSE CTRA opened at $24.87 on Tuesday. The company has a quick ratio of 1.56, a current ratio of 1.61 and a debt-to-equity ratio of 0.16. Coterra Energy Inc. has a fifty-two week low of $22.30 and a fifty-two week high of $28.90. The business has a fifty day moving average of $24.94 and a 200-day moving average of $25.27. The stock has a market cap of $18.32 billion, a price-to-earnings ratio of 14.98, a price-to-earnings-growth ratio of 1.62 and a beta of 0.27.

Coterra Energy (NYSE:CTRA) last announced its earnings results 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 net margin of 21.91% and a return on equity of 9.38%. The firm had revenue of $1.36 billion during the quarter, compared to analyst estimates of $1.28 billion. During the same period in the previous year, the firm posted $0.47 EPS. The company’s revenue for the quarter was up .2% compared to the same quarter last year. As a group, analysts predict that Coterra Energy Inc. will post 1.53 earnings per share 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 paid a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a dividend yield of 3.38%. The ex-dividend date was Thursday, November 14th. Coterra Energy’s payout ratio is 50.60%.

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.