Daymark Wealth Partners LLC Increases Stake in Coterra Energy Inc. (NYSE:CTRA)

Daymark Wealth Partners LLC lifted its stake in shares of Coterra Energy Inc. (NYSE:CTRA) by 6.0% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 52,525 shares of the company’s stock after buying an additional 2,963 shares during the quarter. Daymark Wealth Partners LLC’s holdings in Coterra Energy were worth $1,341,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Viking Fund Management LLC increased its position in shares of Coterra Energy by 222.2% in the 4th quarter. Viking Fund Management LLC now owns 290,000 shares of the company’s stock valued at $7,407,000 after purchasing an additional 200,000 shares during the last quarter. Nisa Investment Advisors LLC grew its stake in shares of Coterra Energy by 3.2% during the fourth quarter. Nisa Investment Advisors LLC now owns 251,776 shares of the company’s stock worth $6,430,000 after purchasing an additional 7,846 shares in the last quarter. MCF Advisors LLC increased its holdings in Coterra Energy by 230.5% in the fourth 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 last quarter. Bourgeon Capital Management LLC raised its stake in Coterra Energy by 107.0% in the fourth quarter. Bourgeon Capital Management LLC now owns 236,952 shares of the company’s stock valued at $6,052,000 after buying an additional 122,487 shares in the last quarter. Finally, Perpetual Ltd lifted its holdings in Coterra Energy by 46.1% during the 4th quarter. Perpetual Ltd now owns 23,774 shares of the company’s stock worth $607,000 after buying an additional 7,505 shares during the last quarter. Institutional investors and hedge funds own 87.92% of the company’s stock.

Insider Activity at Coterra Energy

In other Coterra Energy news, SVP Adam M. Vela sold 16,435 shares of the business’s stock in a transaction on 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 directly owns 72,409 shares in the company, valued at approximately $1,937,664.84. The trade was a 18.50 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Kevin William Smith sold 29,643 shares of the firm’s stock in a transaction 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 owns 77,075 shares in the company, valued at $2,016,282. This trade represents a 27.78 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 1.70% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on CTRA. Piper Sandler dropped their price objective on Coterra Energy from $35.00 to $33.00 and set an “overweight” rating on the stock in a report on Tuesday, December 17th. Citigroup raised their price objective on shares of Coterra Energy from $28.00 to $32.00 and gave the stock a “buy” rating in a report on Tuesday, November 26th. Barclays upped their target price on shares of Coterra Energy from $31.00 to $33.00 and gave the company an “overweight” rating in a report on Thursday, November 14th. Mizuho increased their price objective on Coterra Energy from $37.00 to $40.00 and gave the company an “outperform” rating in a report on Monday, December 16th. Finally, Wells Fargo & Company upped their target price 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. 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 company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $32.76.

Coterra Energy Stock Performance

NYSE CTRA opened at $29.18 on Thursday. The company has a market capitalization of $21.49 billion, a P/E ratio of 17.58, a PEG ratio of 0.71 and a beta of 0.27. Coterra Energy Inc. has a 1-year low of $22.30 and a 1-year high of $29.95. The business has a 50 day moving average price of $26.28 and a 200 day moving average price of $25.07. 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 (NYSE:CTRA) last issued its quarterly earnings data 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 return on equity of 9.38% and a net margin of 21.91%. The business had revenue of $1.36 billion for the quarter, compared to analysts’ expectations of $1.28 billion. During the same period last year, the business earned $0.47 earnings per share. The company’s revenue for the quarter was up .2% on a year-over-year basis. Sell-side analysts expect that Coterra Energy Inc. will post 1.54 EPS for the current fiscal year.

Coterra Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, November 27th. Stockholders of record on Thursday, November 14th were given a $0.21 dividend. The ex-dividend date of this dividend was Thursday, November 14th. This represents a $0.84 annualized dividend and a dividend yield of 2.88%. Coterra Energy’s dividend payout ratio is currently 50.60%.

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.