Gabelli Funds LLC Lowers Holdings in Coterra Energy Inc. (NYSE:CTRA)

Gabelli Funds LLC decreased its stake in shares of Coterra Energy Inc. (NYSE:CTRAFree Report) by 6.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 136,189 shares of the company’s stock after selling 10,000 shares during the quarter. Gabelli Funds LLC’s holdings in Coterra Energy were worth $3,476,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in CTRA. Atria Wealth Solutions Inc. raised its stake in Coterra Energy by 186.6% during the third quarter. Atria Wealth Solutions Inc. now owns 44,730 shares of the company’s stock valued at $1,215,000 after buying an additional 29,122 shares during the last quarter. Janney Montgomery Scott LLC raised its stake in Coterra Energy by 33.8% during the third quarter. Janney Montgomery Scott LLC now owns 210,969 shares of the company’s stock valued at $5,706,000 after buying an additional 53,342 shares during the last quarter. Van ECK Associates Corp raised its stake in Coterra Energy by 2.1% during the third quarter. Van ECK Associates Corp now owns 113,399 shares of the company’s stock valued at $3,068,000 after buying an additional 2,376 shares during the last quarter. HighTower Advisors LLC raised its stake in Coterra Energy by 58.7% during the third quarter. HighTower Advisors LLC now owns 195,281 shares of the company’s stock valued at $5,274,000 after buying an additional 72,241 shares during the last quarter. Finally, Annis Gardner Whiting Capital Advisors LLC bought a new stake in shares of Coterra Energy in the 3rd quarter worth $49,000. Hedge funds and other institutional investors own 87.92% of the company’s stock.

Insider Activity at Coterra Energy

In related news, CAO Todd M. Roemer sold 55,000 shares of Coterra Energy stock in a transaction on Wednesday, March 20th. The stock was sold at an average price of $27.06, for a total transaction of $1,488,300.00. Following the transaction, the chief accounting officer now directly owns 176,758 shares in the company, valued at $4,783,071.48. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 1.70% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of analysts have commented on CTRA shares. Barclays started coverage on Coterra Energy in a report on Wednesday, April 10th. They issued an “overweight” rating and a $36.00 target price for the company. Citigroup lifted their target price on Coterra Energy from $30.00 to $31.00 and gave the stock a “buy” rating in a report on Friday, May 24th. Susquehanna lifted their target price on Coterra Energy from $32.00 to $33.00 and gave the stock a “positive” rating in a report on Tuesday, May 7th. Scotiabank lifted their target price on Coterra Energy from $31.00 to $35.00 and gave the stock a “sector outperform” rating in a report on Thursday, April 11th. Finally, UBS Group lifted their target price on Coterra Energy from $31.00 to $32.00 and gave the stock a “buy” rating in a report on Friday, March 1st. One investment analyst has rated the stock with a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $33.73.

Check Out Our Latest Report on Coterra Energy

Coterra Energy Price Performance

NYSE CTRA opened at $27.58 on Friday. The company has a market capitalization of $20.53 billion, a PE ratio of 15.94 and a beta of 0.21. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.46 and a current ratio of 1.49. The business’s fifty day moving average is $27.85 and its 200 day moving average is $26.42. Coterra Energy Inc. has a fifty-two week low of $23.60 and a fifty-two week high of $29.89.

Coterra Energy (NYSE:CTRAGet Free Report) last released its earnings results on Thursday, May 2nd. The company reported $0.50 earnings per share for the quarter, beating the consensus estimate of $0.41 by $0.09. The company had revenue of $1.43 billion for the quarter, compared to the consensus estimate of $1.38 billion. Coterra Energy had a return on equity of 10.75% and a net margin of 23.34%. Sell-side analysts predict that Coterra Energy Inc. will post 1.82 earnings per share for the current year.

Coterra Energy Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, May 30th. Investors of record on Thursday, May 16th were given a dividend of $0.21 per share. The ex-dividend date of this dividend was Wednesday, May 15th. This represents a $0.84 annualized dividend and a yield of 3.05%. Coterra Energy’s dividend payout ratio (DPR) is presently 48.55%.

Coterra Energy Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Coterra Energy (NYSE:CTRA)

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