Commerce Bank Cuts Stock Position in Coterra Energy Inc. (NYSE:CTRA)

Commerce Bank decreased its holdings in shares of Coterra Energy Inc. (NYSE:CTRA) by 1.2% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 45,203 shares of the company’s stock after selling 534 shares during the period. Commerce Bank’s holdings in Coterra Energy were worth $1,083,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently added to or reduced their stakes in the company. Kennedy Capital Management LLC increased its stake in Coterra Energy by 13.9% during the 1st quarter. Kennedy Capital Management LLC now owns 403,143 shares of the company’s stock worth $11,240,000 after buying an additional 49,275 shares in the last quarter. Ancora Advisors LLC lifted its stake in shares of Coterra Energy by 2.2% in the first quarter. Ancora Advisors LLC now owns 97,455 shares of the company’s stock worth $2,717,000 after buying an additional 2,130 shares in the last quarter. B. Riley Wealth Advisors Inc. boosted its position in Coterra Energy by 8.4% during the first quarter. B. Riley Wealth Advisors Inc. now owns 15,621 shares of the company’s stock worth $431,000 after acquiring an additional 1,215 shares during the last quarter. Slagle Financial LLC purchased a new stake in Coterra Energy during the 1st quarter valued at about $1,401,000. Finally, Tidal Investments LLC grew its holdings in Coterra Energy by 57.1% in the 1st quarter. Tidal Investments LLC now owns 179,938 shares of the company’s stock valued at $5,016,000 after buying an additional 65,368 shares in the last quarter. Institutional investors and hedge funds own 87.92% of the company’s stock.

Insider Buying and Selling

In other news, SVP Adam M. Vela sold 16,435 shares of the business’s stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $26.76, for a total transaction of $439,800.60. Following the transaction, the senior vice president now directly owns 72,409 shares in the company, valued at $1,937,664.84. The trade was a 18.50 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 1.70% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the company. Roth Capital upgraded Coterra Energy from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, August 27th. JPMorgan Chase & Co. dropped their target price on Coterra Energy from $31.00 to $26.00 and set an “overweight” rating for the company in a research report on Thursday, September 12th. Scotiabank reduced their price target on shares of Coterra Energy from $35.00 to $32.00 and set a “sector outperform” rating on the stock in a research report on Thursday, October 10th. UBS Group lifted their price objective on shares of Coterra Energy from $31.00 to $35.00 and gave the company a “buy” rating in a report on Friday, November 15th. Finally, Stephens increased their target price on shares of Coterra Energy from $28.00 to $29.00 and gave the stock an “overweight” rating in a report on Friday, November 1st. Two analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $32.41.

Coterra Energy Trading Up 0.7 %

CTRA opened at $27.63 on Monday. The business’s 50-day simple moving average is $24.36 and its 200-day simple moving average is $25.43. The company has a market cap of $20.35 billion, a P/E ratio of 16.64, a PEG ratio of 1.78 and a beta of 0.22. Coterra Energy Inc. has a one year low of $22.30 and a one year high of $28.90. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.56 and a current ratio of 1.61.

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

Coterra Energy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 27th. Shareholders of record on Thursday, November 14th will be given a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a yield of 3.04%. The ex-dividend date is Thursday, November 14th. Coterra Energy’s payout ratio is currently 50.60%.

Coterra Energy Profile

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.