Hartford Funds Management Co LLC Makes New $575,000 Investment in Coterra Energy Inc. (NYSE:CTRA)

Hartford Funds Management Co LLC acquired a new stake in Coterra Energy Inc. (NYSE:CTRA) during the third quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 23,993 shares of the company’s stock, valued at approximately $575,000.

A number of other institutional investors also recently modified their holdings of the company. Charles Schwab Investment Management Inc. boosted its stake in shares of Coterra Energy by 1.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 22,156,361 shares of the company’s stock valued at $530,645,000 after purchasing an additional 305,626 shares during the last quarter. Victory Capital Management Inc. boosted its stake in Coterra Energy by 1.2% during the third quarter. Victory Capital Management Inc. now owns 16,963,084 shares of the company’s stock worth $406,266,000 after acquiring an additional 195,966 shares in the last quarter. King Luther Capital Management Corp boosted its stake in Coterra Energy by 4.4% during the second quarter. King Luther Capital Management Corp now owns 6,783,690 shares of the company’s stock worth $180,921,000 after acquiring an additional 285,774 shares in the last quarter. Disciplined Growth Investors Inc. MN boosted its stake in Coterra Energy by 1.0% during the second quarter. Disciplined Growth Investors Inc. MN now owns 5,063,920 shares of the company’s stock worth $135,055,000 after acquiring an additional 51,249 shares in the last quarter. Finally, American Century Companies Inc. boosted its stake in Coterra Energy by 29.1% during the second quarter. American Century Companies Inc. now owns 4,498,227 shares of the company’s stock worth $119,968,000 after acquiring an additional 1,013,107 shares in the last quarter. 87.92% of the stock is owned by institutional investors.

Coterra Energy Stock Performance

Shares of CTRA stock opened at $27.63 on Friday. Coterra Energy Inc. has a one year low of $22.30 and a one year high of $28.90. The firm has a 50-day moving average of $24.36 and a 200-day moving average of $25.45. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.61 and a quick ratio of 1.56. The company has a market cap of $20.35 billion, a P/E ratio of 16.64, a P/E/G ratio of 1.78 and a beta of 0.22.

Coterra Energy (NYSE:CTRA) last posted 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 return on equity of 9.38% and a net margin of 21.91%. The company had revenue of $1.36 billion for the quarter, compared to analysts’ expectations of $1.28 billion. During the same quarter last year, the business posted $0.47 EPS. The business’s quarterly revenue was up .2% on a year-over-year basis. Equities research analysts forecast that Coterra Energy Inc. will post 1.53 EPS for the current fiscal year.

Coterra Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 27th. Investors of record on Thursday, November 14th will be issued a dividend of $0.21 per share. The ex-dividend date is Thursday, November 14th. This represents a $0.84 dividend on an annualized basis and a yield of 3.04%. Coterra Energy’s dividend payout ratio (DPR) is presently 50.60%.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on CTRA shares. JPMorgan Chase & Co. cut their target price on shares of Coterra Energy from $31.00 to $26.00 and set an “overweight” rating on the stock in a research note on Thursday, September 12th. Mizuho increased their target price on shares of Coterra Energy from $36.00 to $37.00 and gave the stock an “outperform” rating in a research note on Friday, November 1st. 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 report on Tuesday, August 27th. Piper Sandler upped their price objective on shares of Coterra Energy from $32.00 to $35.00 and gave the stock an “overweight” rating in a report on Thursday, November 14th. Finally, UBS Group upped their price objective on shares of Coterra Energy from $31.00 to $35.00 and gave the stock a “buy” rating in a report on Friday, November 15th. Two analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Coterra Energy has an average rating of “Moderate Buy” and a consensus target price of $32.41.

Insider Buying and Selling

In other Coterra Energy news, SVP Adam M. Vela sold 16,435 shares of the 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 completion of the transaction, the senior vice president now owns 72,409 shares in the company, valued at $1,937,664.84. This trade represents a 18.50 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 1.70% of the stock is currently owned by corporate insiders.

Coterra Energy 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.