Janney Montgomery Scott LLC raised its stake in Coterra Energy Inc. (NYSE:CTRA – Get Rating) by 1.4% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 196,188 shares of the company’s stock after purchasing an additional 2,670 shares during the quarter. Janney Montgomery Scott LLC’s holdings in Coterra Energy were worth $5,124,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Meritage Portfolio Management grew its stake in shares of Coterra Energy by 5.8% in the 3rd quarter. Meritage Portfolio Management now owns 165,716 shares of the company’s stock valued at $4,329,000 after purchasing an additional 9,086 shares during the last quarter. Balasa Dinverno & Foltz LLC lifted its holdings in shares of Coterra Energy by 5.0% in the 3rd quarter. Balasa Dinverno & Foltz LLC now owns 9,555 shares of the company’s stock valued at $250,000 after buying an additional 451 shares during the period. Sky Investment Group LLC lifted its holdings in shares of Coterra Energy by 4.6% in the 3rd quarter. Sky Investment Group LLC now owns 9,210 shares of the company’s stock valued at $241,000 after buying an additional 401 shares during the period. Montis Financial LLC lifted its holdings in shares of Coterra Energy by 2.9% in the 3rd quarter. Montis Financial LLC now owns 12,481 shares of the company’s stock valued at $326,000 after buying an additional 356 shares during the period. Finally, Texas Permanent School Fund lifted its holdings in shares of Coterra Energy by 5.8% in the 3rd quarter. Texas Permanent School Fund now owns 112,572 shares of the company’s stock valued at $2,940,000 after buying an additional 6,137 shares during the period. 94.72% of the stock is currently owned by hedge funds and other institutional investors.
Insider Buying and Selling at Coterra Energy
In other news, Director Hans Helmerich sold 5,000 shares of the company’s stock in a transaction dated Thursday, December 1st. The stock was sold at an average price of $27.64, for a total value of $138,200.00. Following the completion of the sale, the director now owns 225,755 shares of the company’s stock, valued at $6,239,868.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 1.60% of the stock is owned by company insiders.
Coterra Energy Price Performance
Coterra Energy (NYSE:CTRA – Get Rating) last posted its quarterly earnings results on Thursday, November 3rd. The company reported $1.39 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.34 by $0.05. Coterra Energy had a return on equity of 29.82% and a net margin of 44.15%. The firm had revenue of $2.52 billion during the quarter, compared to the consensus estimate of $2.43 billion. Equities research analysts forecast that Coterra Energy Inc. will post 4.88 EPS for the current year.
Coterra Energy Increases Dividend
The company also recently declared a quarterly dividend, which was paid on Wednesday, November 30th. Shareholders of record on Wednesday, November 16th were given a dividend of $0.68 per share. This represents a $2.72 dividend on an annualized basis and a yield of 10.97%. The ex-dividend date was Tuesday, November 15th. This is an increase from Coterra Energy’s previous quarterly dividend of $0.15. Coterra Energy’s payout ratio is 12.12%.
Analyst Upgrades and Downgrades
Several analysts have recently commented on CTRA shares. Piper Sandler reduced their price target on Coterra Energy from $33.00 to $31.00 and set a “neutral” rating for the company in a report on Thursday, November 17th. Bank of America raised Coterra Energy from an “underperform” rating to a “neutral” rating and reduced their price objective for the stock from $30.00 to $29.00 in a report on Friday. Jefferies Financial Group started coverage on Coterra Energy in a report on Wednesday, October 19th. They set a “hold” rating and a $32.00 price objective for the company. Wolfe Research raised Coterra Energy from an “underperform” rating to a “peer perform” rating in a report on Monday, November 7th. Finally, Mizuho reduced their price objective on Coterra Energy from $43.00 to $42.00 and set a “buy” rating for the company in a report on Monday, October 24th. One analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $32.73.
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. It primarily focuses on the Marcellus Shale with approximately 177,000 net acres in the dry gas window of the play located in Susquehanna County, Pennsylvania.
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