Coterra Energy Inc. (NYSE:CTRA) Shares Acquired by HITE Hedge Asset Management LLC

HITE Hedge Asset Management LLC boosted its holdings in Coterra Energy Inc. (NYSE:CTRA) by 406.3% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 707,729 shares of the company’s stock after buying an additional 567,934 shares during the quarter. Coterra Energy accounts for about 2.0% of HITE Hedge Asset Management LLC’s investment portfolio, making the stock its 18th largest position. HITE Hedge Asset Management LLC owned approximately 0.10% of Coterra Energy worth $16,950,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of CTRA. Fifth Third Bancorp boosted its position in Coterra Energy by 0.6% in the second quarter. Fifth Third Bancorp now owns 71,138 shares of the company’s stock valued at $1,897,000 after buying an additional 399 shares in the last quarter. TCW Group Inc. lifted its holdings in shares of Coterra Energy by 4.0% during the second quarter. TCW Group Inc. now owns 10,447 shares of the company’s stock worth $279,000 after purchasing an additional 404 shares during the period. Cornercap Investment Counsel Inc. increased its position in shares of Coterra Energy by 0.7% in the second 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 in the last quarter. Bruce G. Allen Investments LLC boosted its stake in Coterra Energy by 17.4% during the third quarter. Bruce G. Allen Investments LLC now owns 3,033 shares of the company’s stock worth $73,000 after buying an additional 450 shares during the last quarter. Finally, Venturi Wealth Management LLC boosted its holdings in Coterra Energy by 1.4% in the third quarter. Venturi Wealth Management LLC now owns 33,559 shares of the company’s stock valued at $804,000 after purchasing an additional 474 shares during the period. Institutional investors and hedge funds own 87.92% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the stock. Roth Capital upgraded shares of Coterra Energy from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, August 27th. Truist Financial lifted their target price on shares of Coterra Energy from $31.00 to $33.00 and gave the stock a “buy” rating in a research report on Thursday, November 14th. Roth Mkm upgraded shares of Coterra Energy from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $25.00 to $29.00 in a research report on Tuesday, August 27th. Susquehanna raised their price target on Coterra Energy from $30.00 to $33.00 and gave the company a “positive” rating in a report on Thursday, November 14th. Finally, Stephens boosted their target price on Coterra Energy from $28.00 to $29.00 and gave the company an “overweight” rating in a research report on Friday, November 1st. Two investment analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $32.47.

Insider Buying and Selling at Coterra Energy

In other news, SVP Adam M. Vela sold 16,435 shares of the company’s 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 completion of the transaction, the senior vice president now owns 72,409 shares in the company, valued at approximately $1,937,664.84. This represents a 18.50 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. 1.70% of the stock is owned by corporate insiders.

Coterra Energy Trading Down 2.4 %

CTRA stock opened at $26.08 on Tuesday. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.61 and a quick ratio of 1.56. Coterra Energy Inc. has a fifty-two week low of $22.30 and a fifty-two week high of $28.90. The business has a fifty day moving average price of $24.75 and a 200 day moving average price of $25.35. The stock has a market capitalization of $19.21 billion, a price-to-earnings ratio of 15.71, a P/E/G ratio of 1.74 and a beta of 0.26.

Coterra Energy (NYSE:CTRA) last released its quarterly earnings data 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 firm had revenue of $1.36 billion for the quarter, compared to analyst estimates of $1.28 billion. During the same period last year, the business earned $0.47 EPS. The company’s revenue was up .2% compared to the same quarter last year. Analysts expect that Coterra Energy Inc. will post 1.53 EPS for the current fiscal year.

Coterra Energy Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, November 27th. Stockholders of record on Thursday, November 14th were issued a $0.21 dividend. The ex-dividend date was Thursday, November 14th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 3.22%. Coterra Energy’s dividend payout ratio (DPR) is presently 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.