The Manufacturers Life Insurance Company Has $19.58 Million Stock Position in Coterra Energy Inc. (NYSE:CTRA)

The Manufacturers Life Insurance Company decreased its stake in Coterra Energy Inc. (NYSE:CTRAFree Report) by 22.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 767,161 shares of the company’s stock after selling 218,474 shares during the period. The Manufacturers Life Insurance Company owned approximately 0.10% of Coterra Energy worth $19,578,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of CTRA. Atria Wealth Solutions Inc. grew its stake in shares of Coterra Energy by 186.6% in the third quarter. Atria Wealth Solutions Inc. now owns 44,730 shares of the company’s stock worth $1,215,000 after acquiring an additional 29,122 shares during the last quarter. Janney Montgomery Scott LLC lifted its position in Coterra Energy by 33.8% in the third quarter. Janney Montgomery Scott LLC now owns 210,969 shares of the company’s stock worth $5,706,000 after purchasing an additional 53,342 shares during the period. Van ECK Associates Corp lifted its position in Coterra Energy by 2.1% in the third quarter. Van ECK Associates Corp now owns 113,399 shares of the company’s stock worth $3,068,000 after purchasing an additional 2,376 shares during the period. HighTower Advisors LLC lifted its holdings in shares of 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 acquiring an additional 72,241 shares during the period. Finally, Annis Gardner Whiting Capital Advisors LLC bought a new position in shares of Coterra Energy during the third quarter valued at $49,000. Institutional investors and hedge funds own 87.92% of the company’s stock.

Analysts Set New Price Targets

CTRA has been the subject of a number of analyst reports. Barclays initiated coverage on Coterra Energy in a report on Wednesday, April 10th. They set an “overweight” rating and a $36.00 price objective for the company. Morgan Stanley lifted their price objective on Coterra Energy from $26.00 to $29.00 and gave the company an “equal weight” rating in a report on Wednesday, April 17th. Scotiabank lifted their price objective on Coterra Energy from $31.00 to $35.00 and gave the company a “sector outperform” rating in a report on Thursday, April 11th. Stifel Nicolaus cut their price objective on Coterra Energy from $33.00 to $31.00 and set a “buy” rating for the company in a report on Friday, March 22nd. Finally, Truist Financial raised Coterra Energy from a “hold” rating to a “buy” rating and lifted their price objective for the company from $27.00 to $35.00 in a report on Thursday, May 16th. One investment analyst has rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $33.73.

Read Our Latest Research Report on Coterra Energy

Insider Buying and Selling

In related news, CAO Todd M. Roemer sold 55,000 shares of Coterra Energy stock in a transaction dated Wednesday, March 20th. The stock was sold at an average price of $27.06, for a total value of $1,488,300.00. Following the completion of the sale, the chief accounting officer now directly owns 176,758 shares in the company, valued at $4,783,071.48. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 1.70% of the company’s stock.

Coterra Energy Price Performance

Shares of CTRA stock opened at $27.58 on Friday. The stock has a 50-day moving average price of $27.85 and a 200 day moving average price of $26.42. The company has a quick ratio of 1.46, a current ratio of 1.49 and a debt-to-equity ratio of 0.16. The firm has a market cap of $20.53 billion, a price-to-earnings ratio of 15.94 and a beta of 0.21. Coterra Energy Inc. has a 12 month low of $23.60 and a 12 month high of $29.89.

Coterra Energy (NYSE:CTRAGet Free Report) last announced its quarterly earnings data on Thursday, May 2nd. The company reported $0.50 EPS for the quarter, topping analysts’ consensus estimates of $0.41 by $0.09. The firm had revenue of $1.43 billion during the quarter, compared to analyst estimates of $1.38 billion. Coterra Energy had a return on equity of 10.75% and a net margin of 23.34%. Research analysts expect that Coterra Energy Inc. will post 1.82 EPS for the current year.

Coterra Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 30th. Investors of record on Thursday, May 16th were given a $0.21 dividend. The ex-dividend date was Wednesday, May 15th. This represents a $0.84 dividend on an annualized basis and a yield of 3.05%. Coterra Energy’s payout ratio is 48.55%.

About Coterra Energy

(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.

See Also

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

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