Cerity Partners LLC Acquires 83,998 Shares of Coterra Energy Inc. (NYSE:CTRA)

Cerity Partners LLC grew its stake in shares of Coterra Energy Inc. (NYSE:CTRA) by 32.6% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 341,634 shares of the company’s stock after buying an additional 83,998 shares during the period. Cerity Partners LLC’s holdings in Coterra Energy were worth $8,182,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently modified their holdings of the stock. Fifth Third Bancorp boosted its stake in Coterra Energy by 0.6% during the second quarter. Fifth Third Bancorp now owns 71,138 shares of the company’s stock valued at $1,897,000 after buying an additional 399 shares during the last quarter. TCW Group Inc. boosted its position in shares of Coterra Energy by 4.0% during the 2nd quarter. TCW Group Inc. now owns 10,447 shares of the company’s stock valued at $279,000 after acquiring an additional 404 shares during the last quarter. Cornercap Investment Counsel Inc. grew its holdings in shares of Coterra Energy by 0.7% in the second quarter. Cornercap Investment Counsel Inc. now owns 66,280 shares of the company’s stock valued at $1,768,000 after purchasing an additional 436 shares in the last quarter. Bruce G. Allen Investments LLC raised its stake in Coterra Energy by 17.4% during the third quarter. Bruce G. Allen Investments LLC now owns 3,033 shares of the company’s stock valued at $73,000 after purchasing an additional 450 shares in the last quarter. Finally, Venturi Wealth Management LLC lifted its position in Coterra Energy by 1.4% during the third quarter. Venturi Wealth Management LLC now owns 33,559 shares of the company’s stock valued at $804,000 after purchasing an additional 474 shares during the last quarter. Hedge funds and other institutional investors own 87.92% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on CTRA shares. Scotiabank reduced their target price on shares of Coterra Energy from $35.00 to $32.00 and set a “sector outperform” rating on the stock in a report on Thursday, October 10th. Roth Mkm upgraded Coterra Energy from a “neutral” rating to a “buy” rating and upped their price objective for the company from $25.00 to $29.00 in a research report on Tuesday, August 27th. Roth Capital raised Coterra Energy from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, August 27th. Morgan Stanley boosted their target price on Coterra Energy from $27.00 to $29.00 and gave the company an “equal weight” rating in a research report on Thursday, November 14th. Finally, UBS Group raised their price target on Coterra Energy from $31.00 to $35.00 and gave the stock a “buy” rating in a research report on Friday, November 15th. Two analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $32.47.

Coterra Energy Stock Performance

Coterra Energy stock opened at $26.68 on Thursday. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.56 and a current ratio of 1.61. The company has a market capitalization of $19.65 billion, a PE ratio of 16.07, a P/E/G ratio of 1.75 and a beta of 0.22. The company has a 50 day moving average price of $24.52 and a 200-day moving average price of $25.39. Coterra Energy Inc. has a fifty-two week low of $22.30 and a fifty-two week high of $28.90.

Coterra Energy (NYSE:CTRA) last issued its earnings results on Thursday, October 31st. The company reported $0.32 earnings per share for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.03). Coterra Energy had a net margin of 21.91% and a return on equity of 9.38%. The firm had revenue of $1.36 billion for the quarter, compared to the consensus estimate of $1.28 billion. During the same period last year, the firm earned $0.47 earnings per share. The company’s revenue for the quarter was up .2% on a year-over-year basis. As a group, equities analysts forecast that Coterra Energy Inc. will post 1.53 earnings per share for the current year.

Coterra Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, November 27th. Shareholders of record on Thursday, November 14th were issued a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a yield of 3.15%. The ex-dividend date was Thursday, November 14th. Coterra Energy’s payout ratio is 50.60%.

Insider Buying and Selling at Coterra Energy

In related news, SVP Adam M. Vela sold 16,435 shares of the company’s stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $26.76, for a total transaction of $439,800.60. Following the completion of the sale, the senior vice president now directly owns 72,409 shares in the company, valued at $1,937,664.84. This represents a 18.50 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Insiders own 1.70% of the company’s stock.

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. 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.