Synovus Financial Corp Boosts Position in Coterra Energy Inc. (NYSE:CTRA)

Synovus Financial Corp boosted its position in Coterra Energy Inc. (NYSE:CTRA) by 16.0% during the 3rd quarter, HoldingsChannel reports. The firm owned 15,837 shares of the company’s stock after purchasing an additional 2,184 shares during the period. Synovus Financial Corp’s holdings in Coterra Energy were worth $379,000 as of its most recent filing with the SEC.

A number of other large investors have also made changes to their positions in CTRA. Wealth Enhancement Advisory Services LLC grew its position in Coterra Energy by 6.5% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 38,058 shares of the company’s stock valued at $1,015,000 after buying an additional 2,307 shares during the period. Assenagon Asset Management S.A. increased its stake in shares of Coterra Energy by 4.1% in the 2nd quarter. Assenagon Asset Management S.A. now owns 13,969 shares of the company’s stock worth $373,000 after purchasing an additional 555 shares in the last quarter. Blue Trust Inc. raised its holdings in Coterra Energy by 190.6% in the 2nd quarter. Blue Trust Inc. now owns 3,295 shares of the company’s stock worth $92,000 after purchasing an additional 2,161 shares during the period. Raymond James & Associates lifted its position in Coterra Energy by 5.0% during the second quarter. Raymond James & Associates now owns 1,187,663 shares of the company’s stock valued at $31,675,000 after purchasing an additional 56,748 shares in the last quarter. Finally, Fifth Third Bancorp grew its holdings 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 purchasing an additional 399 shares during the period. 87.92% of the stock is currently owned by institutional investors.

Coterra Energy Stock Down 3.2 %

NYSE CTRA opened at $23.74 on Thursday. The stock has a 50 day moving average price of $25.00 and a 200-day moving average price of $25.16. 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. The company has a market capitalization of $17.49 billion, a P/E ratio of 14.30, a P/E/G ratio of 1.64 and a beta of 0.27.

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

Coterra Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, November 27th. Shareholders of record on Thursday, November 14th were given a dividend of $0.21 per share. The ex-dividend date of this dividend was Thursday, November 14th. This represents a $0.84 dividend on an annualized basis and a yield of 3.54%. Coterra Energy’s dividend payout ratio (DPR) is presently 50.60%.

Insider Activity

In other Coterra Energy news, SVP Adam M. Vela sold 16,435 shares of the business’s stock in a transaction on 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 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 transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP Kevin William Smith sold 29,643 shares of the stock in a transaction on Tuesday, December 3rd. The shares were sold at an average price of $26.16, for a total transaction of $775,460.88. Following the completion of the sale, the senior vice president now directly owns 77,075 shares in the company, valued at approximately $2,016,282. This represents a 27.78 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 1.70% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently weighed in on the company. Morgan Stanley lifted their price objective 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. Piper Sandler lowered their price target on shares of Coterra Energy from $35.00 to $33.00 and set an “overweight” rating on the stock in a report on Tuesday. Stephens increased their price objective on shares of Coterra Energy from $28.00 to $29.00 and gave the stock an “overweight” rating in a research note on Friday, November 1st. Truist Financial raised their price objective on shares of Coterra Energy from $31.00 to $33.00 and gave the company a “buy” rating in a research report on Thursday, November 14th. Finally, Scotiabank dropped their target price on shares of Coterra Energy from $35.00 to $32.00 and set a “sector outperform” rating for the company in a report on Thursday, October 10th. Two investment analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Coterra Energy currently has an average rating of “Moderate Buy” and an average price target of $32.53.

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.