The Manufacturers Life Insurance Company Increases Position in Coterra Energy Inc. (NYSE:CTRA)

The Manufacturers Life Insurance Company lifted its holdings in shares of Coterra Energy Inc. (NYSE:CTRAGet Rating) by 1.3% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 897,181 shares of the company’s stock after buying an additional 11,346 shares during the period. The Manufacturers Life Insurance Company’s holdings in Coterra Energy were worth $23,434,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Patriot Financial Group Insurance Agency LLC grew its position in shares of Coterra Energy by 239.3% in 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 period. First Horizon Advisors Inc. boosted its holdings in 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 buying an additional 583 shares during the last quarter. Achmea Investment Management B.V. purchased a new stake in Coterra Energy during the 1st quarter worth approximately $41,000. McIlrath & Eck LLC lifted its position in shares of Coterra Energy by 703.5% in the third quarter. McIlrath & Eck LLC now owns 1,599 shares of the company’s stock valued at $42,000 after acquiring an additional 1,400 shares in the last quarter. Finally, TFC Financial Management boosted its stake in shares of Coterra Energy by 3,018.9% in the third 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. Institutional investors and hedge funds own 94.72% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently commented on CTRA shares. Citigroup downgraded Coterra Energy from a “neutral” rating to a “sell” rating and reduced their price objective for the company from $27.00 to $23.00 in a research note on Wednesday, December 7th. Piper Sandler dropped their price objective on shares of Coterra Energy from $33.00 to $31.00 and set a “neutral” rating for the company in a research note on Thursday, November 17th. Wolfe Research raised shares of Coterra Energy from an “underperform” rating to a “peer perform” rating in a research note on Monday, November 7th. Raymond James lowered their target price on Coterra Energy from $42.00 to $36.00 and set an “outperform” rating on the stock in a report on Monday, October 24th. Finally, Jefferies Financial Group assumed coverage on Coterra Energy in a research report on Wednesday, October 19th. They set a “hold” rating and a $32.00 price objective on the stock. One analyst has rated the stock with a sell rating, fourteen have given a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, Coterra Energy has an average rating of “Hold” and an average price target of $32.20.

Insider Buying and Selling at Coterra Energy

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

Coterra Energy Stock Down 2.2 %

Shares of NYSE:CTRA opened at $25.20 on Wednesday. The company has a market capitalization of $19.87 billion, a price-to-earnings ratio of 5.09, a PEG ratio of 0.13 and a beta of 0.25. Coterra Energy Inc. has a 12-month low of $19.26 and a 12-month high of $36.55. The business has a 50-day moving average price of $25.50 and a 200 day moving average price of $27.78. The company has a current ratio of 1.66, a quick ratio of 1.62 and a debt-to-equity ratio of 0.17.

Coterra Energy (NYSE:CTRAGet Rating) last announced its earnings results on Thursday, November 3rd. The company reported $1.39 earnings per share for the quarter, topping the consensus estimate of $1.34 by $0.05. The company 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 expect that Coterra Energy Inc. will post 4.87 EPS for the current year.

Coterra Energy Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, November 30th. Investors of record on Wednesday, November 16th were issued a $0.68 dividend. This represents a $2.72 annualized dividend and a yield of 10.79%. The ex-dividend date was Tuesday, November 15th. This is an increase from Coterra Energy’s previous quarterly dividend of $0.15. Coterra Energy’s dividend payout ratio (DPR) is 12.12%.

Coterra Energy Profile

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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.

Further Reading

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

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