Edgestream Partners L.P. Takes $1.54 Million Position in Coterra Energy Inc. (NYSE:CTRA)

Edgestream Partners L.P. bought a new stake in Coterra Energy Inc. (NYSE:CTRA) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 60,850 shares of the company’s stock, valued at approximately $1,540,000.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. Fisher Asset Management LLC increased its position in shares of Coterra Energy by 2.9% during the second quarter. Fisher Asset Management LLC now owns 13,982 shares of the company’s stock valued at $354,000 after acquiring an additional 398 shares during the last quarter. Insight Wealth Strategies LLC increased its position in shares of Coterra Energy by 0.7% during the second quarter. Insight Wealth Strategies LLC now owns 61,570 shares of the company’s stock valued at $1,558,000 after acquiring an additional 400 shares during the last quarter. Meitav Investment House Ltd. purchased a new stake in shares of Coterra Energy during the second quarter valued at approximately $213,000. MONECO Advisors LLC increased its position in shares of Coterra Energy by 2.4% during the second quarter. MONECO Advisors LLC now owns 17,375 shares of the company’s stock valued at $440,000 after acquiring an additional 404 shares during the last quarter. Finally, Rothschild Investment Corp IL increased its position in shares of Coterra Energy by 0.7% during the second quarter. Rothschild Investment Corp IL now owns 58,678 shares of the company’s stock valued at $1,485,000 after acquiring an additional 417 shares during the last quarter. 90.54% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Coterra Energy

In other Coterra Energy news, Director Dan O. Dinges sold 400,000 shares of Coterra Energy stock in a transaction dated Monday, September 25th. The stock was sold at an average price of $26.60, for a total transaction of $10,640,000.00. Following the completion of the sale, the director now owns 3,302,392 shares of the company’s stock, valued at $87,843,627.20. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other news, Director Dan O. Dinges sold 68,275 shares of the business’s stock in a transaction dated Wednesday, September 27th. The stock was sold at an average price of $27.22, for a total value of $1,858,445.50. Following the completion of the sale, the director now owns 3,152,392 shares of the company’s stock, valued at approximately $85,808,110.24. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Dan O. Dinges sold 400,000 shares of the business’s stock in a transaction dated Monday, September 25th. The shares were sold at an average price of $26.60, for a total value of $10,640,000.00. Following the completion of the sale, the director now directly owns 3,302,392 shares of the company’s stock, valued at approximately $87,843,627.20. The disclosure for this sale can be found here. 1.70% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

CTRA has been the subject of a number of recent research reports. Stifel Nicolaus raised their target price on Coterra Energy from $35.00 to $36.00 and gave the stock a “buy” rating in a research report on Friday, August 18th. Truist Financial raised their target price on Coterra Energy from $29.00 to $30.00 and gave the stock a “hold” rating in a research report on Wednesday, November 8th. Mizuho reissued a “buy” rating and issued a $42.00 target price on shares of Coterra Energy in a research report on Tuesday, September 19th. Citigroup raised their target price on Coterra Energy from $26.00 to $27.00 and gave the stock a “neutral” rating in a research report on Wednesday, September 20th. Finally, Bank of America raised their target price on Coterra Energy from $32.00 to $34.00 in a research report on Wednesday, September 27th. Eleven research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, Coterra Energy has an average rating of “Hold” and a consensus target price of $31.93.

Coterra Energy Price Performance

NYSE:CTRA opened at $26.69 on Tuesday. The firm has a market capitalization of $20.08 billion, a price-to-earnings ratio of 9.17, a P/E/G ratio of 0.22 and a beta of 0.34. Coterra Energy Inc. has a 52-week low of $22.25 and a 52-week high of $29.89. The stock has a fifty day moving average of $27.57 and a 200 day moving average of $26.59. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.01 and a current ratio of 1.04.

Coterra Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, November 30th. Investors of record on Thursday, November 16th will be paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 3.00%. The ex-dividend date of this dividend is Wednesday, November 15th. Coterra Energy’s dividend payout ratio is 27.49%.

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 primarily focuses on the Marcellus Shale with approximately 183,000 net acres in the dry gas window of the play located in Susquehanna County, Pennsylvania.