SevenBridge Financial Group LLC Boosts Stake in Coterra Energy Inc. (NYSE:CTRA)

SevenBridge Financial Group LLC grew its stake in shares of Coterra Energy Inc. (NYSE:CTRA) by 19.0% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 14,853 shares of the company’s stock after acquiring an additional 2,375 shares during the quarter. SevenBridge Financial Group LLC’s holdings in Coterra Energy were worth $377,000 at the end of the most recent reporting period.

A number of other institutional investors also recently made changes to their positions in the stock. Charles Schwab Investment Management Inc. boosted its position in Coterra Energy by 1.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 22,156,361 shares of the company’s stock worth $530,645,000 after acquiring an additional 305,626 shares during the last quarter. Raymond James & Associates lifted its stake in shares of Coterra Energy by 5.0% during the 2nd quarter. Raymond James & Associates now owns 1,187,663 shares of the company’s stock worth $31,675,000 after purchasing an additional 56,748 shares during the period. MQS Management LLC acquired a new stake in shares of Coterra Energy during the third quarter worth $776,000. Disciplined Growth Investors Inc. MN grew its position in shares of Coterra Energy by 1.0% in the second quarter. Disciplined Growth Investors Inc. MN now owns 5,063,920 shares of the company’s stock valued at $135,055,000 after purchasing an additional 51,249 shares during the period. Finally, National Pension Service increased its stake in Coterra Energy by 14.0% in the third quarter. National Pension Service now owns 1,335,880 shares of the company’s stock valued at $31,994,000 after purchasing an additional 164,048 shares during the last quarter. 87.92% of the stock is owned by institutional investors and hedge funds.

Coterra Energy Price Performance

Shares of CTRA stock opened at $27.63 on Monday. The firm has a fifty day simple moving average of $24.36 and a 200-day simple moving average of $25.43. The company has a market capitalization of $20.35 billion, a PE ratio of 16.64, a price-to-earnings-growth ratio of 1.78 and a beta of 0.22. Coterra Energy Inc. has a twelve month low of $22.30 and a twelve month high of $28.90. The company has a current ratio of 1.61, a quick ratio of 1.56 and a debt-to-equity ratio of 0.16.

Coterra Energy (NYSE:CTRA) last posted 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). Coterra Energy had a return on equity of 9.38% and a net margin of 21.91%. The business had revenue of $1.36 billion for the quarter, compared to analysts’ expectations of $1.28 billion. During the same quarter in the prior year, the firm earned $0.47 earnings per share. Coterra Energy’s revenue for the quarter was up .2% compared to the same quarter last year. Equities research analysts anticipate that Coterra Energy Inc. will post 1.53 earnings per share for the current fiscal year.

Coterra Energy Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 27th. Investors of record on Thursday, November 14th will be issued a $0.21 dividend. The ex-dividend date is Thursday, November 14th. This represents a $0.84 annualized dividend and a yield of 3.04%. Coterra Energy’s dividend payout ratio is presently 50.60%.

Insider Buying and Selling at Coterra Energy

In related news, SVP Adam M. Vela sold 16,435 shares of Coterra Energy stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of $26.76, for a total value of $439,800.60. Following the completion of the transaction, the senior vice president now directly owns 72,409 shares in the company, valued at approximately $1,937,664.84. This trade represents a 18.50 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 1.70% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

CTRA has been the subject of several recent analyst reports. Barclays lifted their price target on Coterra Energy from $31.00 to $33.00 and gave the company an “overweight” rating in a report on Thursday, November 14th. JPMorgan Chase & Co. cut their price target on shares of Coterra Energy from $31.00 to $26.00 and set an “overweight” rating on the stock in a research note on Thursday, September 12th. Roth Mkm raised shares of Coterra Energy from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $25.00 to $29.00 in a research note on Tuesday, August 27th. Susquehanna increased their target price on Coterra Energy from $30.00 to $33.00 and gave the stock a “positive” rating in a research report on Thursday, November 14th. Finally, Stephens boosted their price target on Coterra Energy from $28.00 to $29.00 and gave the company an “overweight” rating in a research report on Friday, November 1st. Two equities research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $32.41.

Coterra Energy Company 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.