Partnership Wealth Management LLC Takes $1.12 Million Position in Coterra Energy Inc. (NYSE:CTRA)

Partnership Wealth Management LLC acquired a new position in Coterra Energy Inc. (NYSE:CTRA) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 43,867 shares of the company’s stock, valued at approximately $1,120,000. Coterra Energy comprises about 0.9% of Partnership Wealth Management LLC’s investment portfolio, making the stock its 29th largest position.

Other institutional investors have also recently bought and sold shares of the company. Fulton Bank N.A. boosted its stake in Coterra Energy by 4.0% in the fourth quarter. Fulton Bank N.A. now owns 25,398 shares of the company’s stock valued at $649,000 after acquiring an additional 984 shares during the last quarter. Range Financial Group LLC purchased a new stake in Coterra Energy in the fourth quarter worth $1,267,000. GAMMA Investing LLC raised its stake in shares of Coterra Energy by 47.4% in the fourth quarter. GAMMA Investing LLC now owns 11,962 shares of the company’s stock valued at $306,000 after buying an additional 3,845 shares during the period. Confluence Investment Management LLC grew its stake in shares of Coterra Energy by 6.3% during the 4th quarter. Confluence Investment Management LLC now owns 22,837 shares of the company’s stock worth $583,000 after acquiring an additional 1,355 shares during the period. Finally, Franklin Resources Inc. increased its holdings in Coterra Energy by 40.0% in the 3rd quarter. Franklin Resources Inc. now owns 1,194,064 shares of the company’s stock worth $29,147,000 after acquiring an additional 341,180 shares during the last quarter. Institutional investors own 87.92% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on CTRA shares. Scotiabank cut 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 research report on Thursday, October 10th. Wells Fargo & Company increased their target price on Coterra Energy from $32.00 to $35.00 and gave the stock an “overweight” rating in a research report on Friday, November 15th. Truist Financial boosted their price objective on Coterra Energy from $31.00 to $33.00 and gave the company a “buy” rating in a research note on Thursday, November 14th. Mizuho raised their target price on Coterra Energy from $37.00 to $40.00 and gave the stock an “outperform” rating in a research note on Monday, December 16th. Finally, JPMorgan Chase & Co. decreased their price target on Coterra Energy from $31.00 to $26.00 and set an “overweight” rating on the stock in a research report on Thursday, September 12th. Two equities research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Coterra Energy presently has an average rating of “Moderate Buy” and an average price target of $32.53.

Insiders Place Their Bets

In other Coterra Energy news, SVP Kevin William Smith sold 29,643 shares of the firm’s stock in a transaction that occurred 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 transaction, the senior vice president now owns 77,075 shares of the company’s stock, valued at approximately $2,016,282. This trade represents a 27.78 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Adam M. Vela sold 16,435 shares of Coterra Energy stock in a transaction that occurred 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 of the company’s stock, valued at $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 company insiders.

Coterra Energy Trading Up 2.9 %

Shares of CTRA stock traded up $0.76 during trading hours on Wednesday, reaching $27.12. The company’s stock had a trading volume of 9,032,836 shares, compared to its average volume of 5,623,621. 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 Inc. has a one year low of $22.30 and a one year high of $28.90. The stock has a market capitalization of $19.98 billion, a P/E ratio of 16.34, a P/E/G ratio of 1.64 and a beta of 0.27. The firm’s fifty day simple moving average is $25.30 and its 200 day simple moving average is $24.92.

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

Coterra Energy Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, November 27th. Investors of record on Thursday, November 14th were paid a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a yield of 3.10%. The ex-dividend date was 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.