Atria Investments LLC boosted its position in Coterra Energy Inc. (NYSE:CTRA – Get Rating) by 14.6% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 96,135 shares of the company’s stock after purchasing an additional 12,217 shares during the quarter. Atria Investments LLC’s holdings in Coterra Energy were worth $2,511,000 at the end of the most recent reporting period.
Several other institutional investors have also added to or reduced their stakes in the company. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. raised its holdings in Coterra Energy by 8.8% in the 3rd quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 535,821 shares of the company’s stock valued at $13,996,000 after acquiring an additional 43,446 shares in the last quarter. Human Investing LLC acquired a new position in Coterra Energy in the 3rd quarter valued at $273,000. Chelsea Counsel Co. acquired a new position in Coterra Energy in the 3rd quarter valued at $1,303,000. International Assets Investment Management LLC raised its holdings in Coterra Energy by 4.0% in the 3rd quarter. International Assets Investment Management LLC now owns 9,132 shares of the company’s stock valued at $239,000 after acquiring an additional 355 shares in the last quarter. Finally, Valeo Financial Advisors LLC raised its holdings in Coterra Energy by 56.2% in the 3rd quarter. Valeo Financial Advisors LLC now owns 21,060 shares of the company’s stock valued at $550,000 after acquiring an additional 7,580 shares in the last quarter. 94.72% of the stock is currently owned by institutional investors.
Insider Buying and Selling at Coterra Energy
In other Coterra Energy 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 sale, the director now owns 225,755 shares in the company, valued at approximately $6,239,868.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 1.60% of the company’s stock.
Coterra Energy Price Performance
Coterra Energy (NYSE:CTRA – Get Rating) last released its quarterly earnings results on Thursday, November 3rd. The company reported $1.39 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 for the quarter, compared to analyst estimates of $2.43 billion. Analysts anticipate that Coterra Energy Inc. will post 4.89 earnings per share for the current fiscal year.
Coterra Energy Increases Dividend
The business also recently declared a quarterly dividend, which was paid on Wednesday, November 30th. Shareholders of record on Wednesday, November 16th were given a $0.68 dividend. This represents a $2.72 dividend on an annualized basis and a dividend yield of 10.84%. The ex-dividend date of this dividend was Tuesday, November 15th. This is a positive change from Coterra Energy’s previous quarterly dividend of $0.15. Coterra Energy’s payout ratio is 12.12%.
Analysts Set New Price Targets
Several equities analysts have weighed in on CTRA shares. Truist Financial cut Coterra Energy from a “buy” rating to a “hold” rating and set a $26.00 price objective for the company. in a report on Monday, December 12th. Tudor Pickering cut Coterra Energy from a “buy” rating to a “hold” rating in a report on Wednesday, November 30th. Tudor, Pickering, Holt & Co. cut Coterra Energy from a “buy” rating to a “hold” rating in a report on Wednesday, November 30th. Raymond James lowered their price target on Coterra Energy from $42.00 to $36.00 and set an “outperform” rating for the company in a report on Monday, October 24th. Finally, Stifel Nicolaus initiated coverage on Coterra Energy in a report on Tuesday, October 25th. They set a “buy” rating and a $40.00 price target for the company. One analyst has rated the stock with a sell rating, thirteen have given a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $32.67.
About Coterra Energy
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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