Coterra Energy Inc. (NYSE:CTRA) Shares Acquired by Perpetual Ltd

Perpetual Ltd boosted its holdings in Coterra Energy Inc. (NYSE:CTRA) by 46.1% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 23,774 shares of the company’s stock after acquiring an additional 7,505 shares during the period. Perpetual Ltd’s holdings in Coterra Energy were worth $607,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in the business. Wellington Management Group LLP lifted its position in shares of Coterra Energy by 28.4% in the third quarter. Wellington Management Group LLP now owns 71,210,013 shares of the company’s stock valued at $1,705,480,000 after acquiring an additional 15,736,247 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake in Coterra Energy by 1.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 22,156,361 shares of the company’s stock valued at $530,645,000 after purchasing an additional 305,626 shares during the last quarter. Geode Capital Management LLC lifted its holdings in Coterra Energy by 0.7% in the 3rd quarter. Geode Capital Management LLC now owns 19,000,702 shares of the company’s stock valued at $453,628,000 after purchasing an additional 128,397 shares in the last quarter. Victory Capital Management Inc. boosted its stake in shares of Coterra Energy by 1.2% during the 3rd quarter. Victory Capital Management Inc. now owns 16,963,084 shares of the company’s stock worth $406,266,000 after purchasing an additional 195,966 shares during the last quarter. Finally, Disciplined Growth Investors Inc. MN raised its position in shares of Coterra Energy by 5.6% in the third quarter. Disciplined Growth Investors Inc. MN now owns 5,348,026 shares of the company’s stock valued at $128,085,000 after buying an additional 284,106 shares during the last quarter. 87.92% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the stock. UBS Group raised their target price on shares of Coterra Energy from $31.00 to $35.00 and gave the stock a “buy” rating in a research report on Friday, November 15th. Barclays lifted their price objective on Coterra Energy from $31.00 to $33.00 and gave the company an “overweight” rating in a research report on Thursday, November 14th. Stephens increased their target price on Coterra Energy from $28.00 to $29.00 and gave the stock an “overweight” rating in a research report on Friday, November 1st. Truist Financial lifted their price target on Coterra Energy from $33.00 to $37.00 and gave the company a “buy” rating in a report on Monday, January 13th. Finally, Piper Sandler cut their price objective on shares of Coterra Energy from $35.00 to $33.00 and set an “overweight” rating on the stock in a report on Tuesday, December 17th. Two analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Coterra Energy has a consensus rating of “Moderate Buy” and an average target price of $32.76.

Insider Buying and Selling

In other Coterra Energy news, SVP Kevin William Smith sold 29,643 shares of Coterra Energy stock in a transaction that occurred on Tuesday, December 3rd. The stock was sold at an average price of $26.16, for a total transaction of $775,460.88. Following the sale, the senior vice president now directly owns 77,075 shares in the company, valued at $2,016,282. The trade was a 27.78 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Adam M. Vela sold 16,435 shares of the company’s stock in a transaction that occurred on Wednesday, November 20th. The shares were 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. The trade was a 18.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.70% of the stock is currently owned by insiders.

Coterra Energy Trading Up 0.1 %

Shares of CTRA opened at $29.18 on Thursday. Coterra Energy Inc. has a 12 month low of $22.30 and a 12 month high of $29.95. The stock’s 50-day moving average is $26.28 and its two-hundred day moving average is $25.07. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.61 and a quick ratio of 1.56. The stock has a market cap of $21.49 billion, a PE ratio of 17.58, a P/E/G ratio of 0.71 and a beta of 0.27.

Coterra Energy (NYSE:CTRA) last released its quarterly earnings results on Thursday, October 31st. The company reported $0.32 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 company had revenue of $1.36 billion for the quarter, compared to analyst estimates of $1.28 billion. During the same period last year, the firm posted $0.47 earnings per share. The business’s revenue was up .2% on a year-over-year basis. Equities analysts forecast that Coterra Energy Inc. will post 1.54 earnings per share for the current fiscal year.

Coterra Energy Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, November 27th. Investors of record on Thursday, November 14th were issued a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a yield of 2.88%. The ex-dividend date of this dividend was Thursday, November 14th. Coterra Energy’s payout ratio is 50.60%.

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.