HighTower Advisors LLC Cuts Holdings in Coterra Energy Inc. (NYSE:CTRA)

HighTower Advisors LLC lowered its holdings in Coterra Energy Inc. (NYSE:CTRA) by 35.0% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 95,579 shares of the company’s stock after selling 51,408 shares during the quarter. HighTower Advisors LLC’s holdings in Coterra Energy were worth $2,277,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently modified their holdings of the company. Holocene Advisors LP lifted its stake in Coterra Energy by 187.2% during the 3rd quarter. Holocene Advisors LP now owns 4,533,269 shares of the company’s stock valued at $108,572,000 after acquiring an additional 2,954,675 shares during the period. Clearline Capital LP bought a new position in Coterra Energy during the third quarter valued at approximately $1,819,000. Benjamin Edwards Inc. boosted its holdings in Coterra Energy by 376,945.8% in the third quarter. Benjamin Edwards Inc. now owns 90,491 shares of the company’s stock worth $2,167,000 after purchasing an additional 90,467 shares during the last quarter. Erste Asset Management GmbH bought a new stake in Coterra Energy in the 3rd quarter worth approximately $21,555,000. Finally, Socorro Asset Management LP raised its stake in Coterra Energy by 17.2% during the 3rd quarter. Socorro Asset Management LP now owns 403,106 shares of the company’s stock valued at $9,654,000 after buying an additional 59,204 shares during the last quarter. 87.92% of the stock is owned by hedge funds and other institutional investors.

Coterra Energy Price Performance

NYSE:CTRA opened at $25.33 on Friday. The stock has a market cap of $18.65 billion, a PE ratio of 15.26, a P/E/G ratio of 1.64 and a beta of 0.27. The company has a quick ratio of 1.56, a current ratio of 1.61 and a debt-to-equity ratio of 0.16. The business’s 50-day simple moving average is $25.00 and its two-hundred day simple moving average is $25.24. Coterra Energy Inc. has a 52 week low of $22.30 and a 52 week high of $28.90.

Coterra Energy (NYSE:CTRA) last posted its quarterly earnings results on Thursday, October 31st. The company reported $0.32 EPS 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 analysts’ expectations of $1.28 billion. Coterra Energy had a return on equity of 9.38% and a net margin of 21.91%. The firm’s revenue for the quarter was up .2% on a year-over-year basis. During the same period in the prior year, the firm posted $0.47 earnings per share. As a group, analysts forecast that Coterra Energy Inc. will post 1.53 EPS for the current fiscal year.

Coterra Energy Announces Dividend

The business 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 dividend on an annualized basis and a yield of 3.32%. Coterra Energy’s dividend payout ratio is currently 50.60%.

Analyst Upgrades and Downgrades

Several brokerages recently commented on CTRA. JPMorgan Chase & Co. cut their price objective on Coterra Energy from $31.00 to $26.00 and set an “overweight” rating for the company in a report on Thursday, September 12th. Susquehanna boosted their price target on Coterra Energy from $30.00 to $33.00 and gave the company a “positive” rating in a research note on Thursday, November 14th. Wells Fargo & Company upped their price target on shares of Coterra Energy from $32.00 to $35.00 and gave the company an “overweight” rating in a research report on Friday, November 15th. UBS Group raised their price objective 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. Finally, Scotiabank reduced their target price 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. Two investment analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Coterra Energy has an average rating of “Moderate Buy” and an average target price of $32.47.

Insiders Place Their Bets

In related news, SVP Kevin William Smith sold 29,643 shares of the business’s stock in a transaction on Tuesday, December 3rd. The shares were sold at an average price of $26.16, for a total value of $775,460.88. Following the sale, the senior vice president now owns 77,075 shares in the company, valued at approximately $2,016,282. The trade was a 27.78 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, 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 transaction, the senior vice president now owns 72,409 shares of the company’s stock, valued at $1,937,664.84. This trade represents a 18.50 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 1.70% of the company’s stock.

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.