Coterra Energy Inc. (NYSE:CTRA) Shares Purchased by Empirical Financial Services LLC d.b.a. Empirical Wealth Management

Empirical Financial Services LLC d.b.a. Empirical Wealth Management raised its position in Coterra Energy Inc. (NYSE:CTRA) by 13.0% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 73,570 shares of the company’s stock after purchasing an additional 8,464 shares during the quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management’s holdings in Coterra Energy were worth $1,879,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. City State Bank purchased a new position in shares of Coterra Energy in the 4th quarter worth about $26,000. AdvisorNet Financial Inc raised its holdings in shares of Coterra Energy by 192.2% during the 4th quarter. AdvisorNet Financial Inc now owns 1,131 shares of the company’s stock valued at $29,000 after buying an additional 744 shares during the period. MCF Advisors LLC raised its holdings in shares of Coterra Energy by 230.5% during the 4th quarter. MCF Advisors LLC now owns 1,246 shares of the company’s stock valued at $32,000 after buying an additional 869 shares during the period. Values First Advisors Inc. purchased a new stake in shares of Coterra Energy during the 3rd quarter valued at about $57,000. Finally, Tobam purchased a new stake in shares of Coterra Energy during the 3rd quarter valued at about $63,000. 87.92% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Coterra Energy

In other Coterra Energy news, SVP Kevin William Smith sold 29,643 shares of Coterra Energy stock in a transaction 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 owns 77,075 shares of the company’s stock, valued at $2,016,282. The trade was a 27.78 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Adam M. Vela sold 16,435 shares of Coterra Energy stock in a transaction 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 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. 1.70% of the stock is owned by company insiders.

Coterra Energy Price Performance

Shares of CTRA opened at $27.82 on Tuesday. Coterra Energy Inc. has a 52 week low of $22.30 and a 52 week high of $29.95. The firm has a market cap of $20.49 billion, a price-to-earnings ratio of 16.76, a PEG ratio of 0.65 and a beta of 0.27. The company has a current ratio of 1.61, a quick ratio of 1.56 and a debt-to-equity ratio of 0.16. The stock has a 50 day moving average of $26.46 and a 200-day moving average of $25.10.

Coterra Energy (NYSE:CTRA) last released its quarterly earnings data on Thursday, October 31st. The company reported $0.32 earnings per share (EPS) 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 company had revenue of $1.36 billion for the quarter, compared to analyst estimates of $1.28 billion. During the same quarter in the prior year, the firm earned $0.47 EPS. The company’s revenue for the quarter was up .2% compared to the same quarter last year. As a group, analysts forecast that Coterra Energy Inc. will post 1.54 EPS for the current year.

Coterra Energy Dividend Announcement

The business also recently disclosed 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 dividend on an annualized basis and a yield of 3.02%. Coterra Energy’s dividend payout ratio is currently 50.60%.

Wall Street Analyst Weigh In

CTRA has been the topic of several analyst reports. Piper Sandler dropped their target price on Coterra Energy from $35.00 to $33.00 and set an “overweight” rating on the stock in a report on Tuesday, December 17th. Wells Fargo & Company raised their target price on Coterra Energy from $32.00 to $35.00 and gave the company an “overweight” rating in a report on Friday, November 15th. Susquehanna raised their target price on Coterra Energy from $30.00 to $33.00 and gave the company a “positive” rating in a report on Thursday, November 14th. Barclays raised their target price on Coterra Energy from $31.00 to $33.00 and gave the company an “overweight” rating in a report on Thursday, November 14th. Finally, Truist Financial lifted their price objective on Coterra Energy from $33.00 to $37.00 and gave the stock a “buy” rating in a report on Monday, January 13th. Two research 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 company’s stock. According to MarketBeat.com, Coterra Energy presently has an average rating of “Moderate Buy” and an average price target of $33.18.

About Coterra Energy

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.