Quarry LP Lowers Stock Position in Coterra Energy Inc. (NYSE:CTRA)

Quarry LP trimmed its holdings in shares of Coterra Energy Inc. (NYSE:CTRA) by 52.0% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,356 shares of the company’s stock after selling 3,631 shares during the period. Quarry LP’s holdings in Coterra Energy were worth $80,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in CTRA. Fifth Third Bancorp raised its holdings in shares of Coterra Energy by 0.6% in the 2nd quarter. Fifth Third Bancorp now owns 71,138 shares of the company’s stock worth $1,897,000 after purchasing an additional 399 shares during the period. TCW Group Inc. raised its stake in shares of Coterra Energy by 4.0% in the second quarter. TCW Group Inc. now owns 10,447 shares of the company’s stock valued at $279,000 after buying an additional 404 shares during the period. Cornercap Investment Counsel Inc. lifted its position in shares of Coterra Energy by 0.7% during the 2nd quarter. Cornercap Investment Counsel Inc. now owns 66,280 shares of the company’s stock valued at $1,768,000 after buying an additional 436 shares during the last quarter. Bruce G. Allen Investments LLC grew its stake in shares of Coterra Energy by 17.4% during the 3rd quarter. Bruce G. Allen Investments LLC now owns 3,033 shares of the company’s stock worth $73,000 after acquiring an additional 450 shares during the period. Finally, Venturi Wealth Management LLC increased its holdings in Coterra Energy by 1.4% in the 3rd quarter. Venturi Wealth Management LLC now owns 33,559 shares of the company’s stock worth $804,000 after acquiring an additional 474 shares during the last quarter. 87.92% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other 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 value of $775,460.88. Following the sale, the senior vice president now directly owns 77,075 shares in the company, valued at approximately $2,016,282. This trade represents a 27.78 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Adam M. Vela sold 16,435 shares of Coterra Energy stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $26.76, for a total transaction of $439,800.60. Following the sale, the senior vice president now directly owns 72,409 shares in the company, valued at $1,937,664.84. The trade was a 18.50 % decrease in their position. The disclosure for this sale can be found here. Insiders own 1.70% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have commented on CTRA shares. Citigroup upped their price objective on shares of Coterra Energy from $28.00 to $32.00 and gave the company a “buy” rating in a report on Tuesday, November 26th. Morgan Stanley raised their price objective on shares of Coterra Energy from $27.00 to $29.00 and gave the stock an “equal weight” rating in a report on Thursday, November 14th. Roth Capital raised shares of Coterra Energy from a “hold” rating to a “strong-buy” rating in a report on Tuesday, August 27th. Piper Sandler raised their price target on Coterra Energy from $32.00 to $35.00 and gave the stock an “overweight” rating in a report on Thursday, November 14th. Finally, Stephens boosted their price objective on Coterra Energy from $28.00 to $29.00 and gave the company an “overweight” rating in a research note on Friday, November 1st. Two investment analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Coterra Energy presently has an average rating of “Moderate Buy” and an average price target of $32.47.

Coterra Energy Stock Down 2.8 %

Shares of NYSE:CTRA opened at $24.93 on Monday. The firm has a market capitalization of $18.36 billion, a PE ratio of 15.02, a price-to-earnings-growth ratio of 1.67 and a beta of 0.27. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.56 and a current ratio of 1.61. Coterra Energy Inc. has a 52-week low of $22.30 and a 52-week high of $28.90. The firm has a fifty day moving average of $24.92 and a 200 day moving average of $25.29.

Coterra Energy (NYSE:CTRA) last posted 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 return on equity of 9.38% and a net margin of 21.91%. The business had revenue of $1.36 billion during the quarter, compared to the consensus estimate of $1.28 billion. During the same period in the prior year, the firm earned $0.47 earnings per share. The business’s revenue for the quarter was up .2% on a year-over-year basis. As a group, research analysts anticipate that Coterra Energy Inc. will post 1.53 EPS for the current fiscal 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 given a dividend of $0.21 per share. The ex-dividend date of this dividend was Thursday, November 14th. This represents a $0.84 annualized dividend and a yield of 3.37%. 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.