Raymond James Financial Services Advisors Inc. Raises Stock Position in Coterra Energy Inc. (NYSE:CTRA)

Raymond James Financial Services Advisors Inc. boosted its position in shares of Coterra Energy Inc. (NYSE:CTRA – Get Rating) by 27.7% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 78,915 shares of the company’s stock after acquiring an additional 17,132 shares during the period. Raymond James Financial Services Advisors Inc.’s holdings in Coterra Energy were worth $2,061,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Patriot Financial Group Insurance Agency LLC lifted its position in Coterra Energy by 239.3% during the second quarter. Patriot Financial Group Insurance Agency LLC now owns 1,106 shares of the company’s stock valued at $29,000 after purchasing an additional 780 shares during the last quarter. First Horizon Advisors Inc. lifted its holdings in shares of Coterra Energy by 100.3% in the 2nd quarter. First Horizon Advisors Inc. now owns 1,164 shares of the company’s stock worth $30,000 after acquiring an additional 583 shares during the last quarter. Achmea Investment Management B.V. bought a new stake in shares of Coterra Energy in the 1st quarter worth approximately $41,000. McIlrath & Eck LLC lifted its holdings in shares of Coterra Energy by 703.5% in the 3rd quarter. McIlrath & Eck LLC now owns 1,599 shares of the company’s stock worth $42,000 after acquiring an additional 1,400 shares during the last quarter. Finally, TFC Financial Management lifted its holdings in shares of Coterra Energy by 3,018.9% in the 3rd quarter. TFC Financial Management now owns 1,653 shares of the company’s stock worth $43,000 after acquiring an additional 1,600 shares during the last quarter. 94.72% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Coterra Energy

In other news, Director Hans Helmerich sold 5,000 shares of the business’s stock in a transaction dated Thursday, December 1st. The stock was sold at an average price of $27.64, for a total transaction of $138,200.00. Following the sale, the director now owns 225,755 shares in the company, valued at $6,239,868.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.60% of the stock is owned by insiders.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on CTRA shares. Wolfe Research upgraded shares of Coterra Energy from an “underperform” rating to a “peer perform” rating in a report on Monday, November 7th. Jefferies Financial Group started coverage on shares of Coterra Energy in a report on Wednesday, October 19th. They issued a “hold” rating and a $32.00 price objective for the company. Stifel Nicolaus initiated coverage on shares of Coterra Energy in a report on Tuesday, October 25th. They issued a “buy” rating and a $40.00 price objective for the company. Barclays lowered their price target on shares of Coterra Energy from $39.00 to $30.00 and set an “equal weight” rating for the company in a report on Wednesday, December 7th. Finally, Bank of America upgraded shares of Coterra Energy from an “underperform” rating to a “neutral” rating and lowered their price target for the company from $30.00 to $29.00 in a report on Friday, January 6th. One investment analyst has rated the stock with a sell rating, thirteen have issued a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, Coterra Energy has a consensus rating of “Hold” and an average price target of $32.67.

Coterra Energy Trading Up 1.0 %

CTRA stock opened at $25.34 on Wednesday. The firm has a fifty day moving average price of $25.75 and a 200 day moving average price of $27.81. Coterra Energy Inc. has a fifty-two week low of $18.39 and a fifty-two week high of $36.55. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.62 and a current ratio of 1.66. The firm has a market cap of $19.98 billion, a PE ratio of 5.12, a price-to-earnings-growth ratio of 0.12 and a beta of 0.25.

Coterra Energy (NYSE:CTRA – Get Rating) last posted its earnings results on Thursday, November 3rd. The company reported $1.39 earnings per share for the quarter, beating analysts’ consensus estimates of $1.34 by $0.05. The firm had revenue of $2.52 billion during the quarter, compared to analyst estimates of $2.43 billion. Coterra Energy had a net margin of 44.15% and a return on equity of 29.82%. Sell-side 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 announced a quarterly dividend, which was paid on Wednesday, November 30th. Shareholders of record on Wednesday, November 16th were paid a $0.68 dividend. This represents a $2.72 annualized dividend and a yield of 10.73%. The ex-dividend date 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%.

Coterra Energy Profile

(Get Rating)

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.