Eagle Asset Management Inc. Has $9.53 Million Stock Holdings in Coterra Energy Inc. (NYSE:CTRA)

Eagle Asset Management Inc. lifted its stake in Coterra Energy Inc. (NYSE:CTRA) by 101.2% during the third quarter, Holdings Channel.com reports. The fund owned 387,665 shares of the company’s stock after buying an additional 194,986 shares during the period. Eagle Asset Management Inc.’s holdings in Coterra Energy were worth $9,529,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of CTRA. Fortitude Family Office LLC lifted its stake in Coterra Energy by 154.9% in the second quarter. Fortitude Family Office LLC now owns 933 shares of the company’s stock valued at $25,000 after acquiring an additional 567 shares during the last quarter. Larson Financial Group LLC grew its holdings in Coterra Energy by 98.0% during the second quarter. Larson Financial Group LLC now owns 1,081 shares of the company’s stock worth $29,000 after purchasing an additional 535 shares during the period. Values First Advisors Inc. acquired a new position in Coterra Energy during the third quarter worth approximately $57,000. Tobam bought a new stake in Coterra Energy in the third quarter valued at approximately $63,000. Finally, EverSource Wealth Advisors LLC lifted its position in shares of Coterra Energy by 31.0% in the first quarter. EverSource Wealth Advisors LLC now owns 2,351 shares of the company’s stock valued at $64,000 after buying an additional 557 shares during the last quarter. Institutional investors own 87.92% of the company’s stock.

Analysts Set New Price Targets

CTRA has been the topic of a number of recent analyst reports. Mizuho boosted their target price on Coterra Energy from $36.00 to $37.00 and gave the stock an “outperform” rating in a report on Friday, November 1st. Roth Mkm upgraded shares of Coterra Energy from a “neutral” rating to a “buy” rating and raised their target price for the stock from $25.00 to $29.00 in a research note on Tuesday, August 27th. Stephens lifted their target price on shares of Coterra Energy from $28.00 to $29.00 and gave the stock an “overweight” rating in a report on Friday, November 1st. Wells Fargo & Company increased their price target on shares of Coterra Energy from $32.00 to $35.00 and gave the company an “overweight” rating in a report on Friday, November 15th. Finally, Piper Sandler boosted their price objective on Coterra Energy from $32.00 to $35.00 and gave the stock an “overweight” rating in a report on Thursday, November 14th. Two research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Coterra Energy presently has a consensus rating of “Moderate Buy” and a consensus price target of $32.41.

Insider Activity

In other Coterra Energy news, SVP Adam M. Vela sold 16,435 shares of the company’s 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 owns 72,409 shares of the company’s stock, valued at $1,937,664.84. This represents a 18.50 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 1.70% of the stock is currently owned by corporate insiders.

Coterra Energy Stock Performance

NYSE CTRA opened at $27.63 on Friday. The firm’s 50 day simple moving average is $24.36 and its 200 day simple moving average is $25.45. The firm has a market capitalization of $20.35 billion, a price-to-earnings ratio of 16.64, a P/E/G ratio of 1.78 and a beta of 0.22. 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 1 year low of $22.30 and a 1 year high of $28.90.

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

Coterra Energy Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 27th. Stockholders of record on Thursday, November 14th will be issued a $0.21 dividend. The ex-dividend date of this dividend is Thursday, November 14th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 3.04%. Coterra Energy’s dividend payout ratio (DPR) 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.