Perpetual Ltd Raises Position in Coterra Energy Inc. (NYSE:CTRA)

Perpetual Ltd lifted its stake in shares of Coterra Energy Inc. (NYSE:CTRA) by 46.1% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 23,774 shares of the company’s stock after acquiring an additional 7,505 shares during the quarter. Perpetual Ltd’s holdings in Coterra Energy were worth $607,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also modified their holdings of the stock. Charles Schwab Investment Management Inc. increased its holdings in Coterra Energy by 1.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 22,156,361 shares of the company’s stock worth $530,645,000 after purchasing an additional 305,626 shares during the period. Czech National Bank increased its stake in shares of Coterra Energy by 6.1% during the fourth quarter. Czech National Bank now owns 159,713 shares of the company’s stock worth $4,079,000 after buying an additional 9,115 shares during the period. Hartford Funds Management Co LLC acquired a new stake in Coterra Energy in the third quarter valued at approximately $575,000. Barclays PLC lifted its stake in Coterra Energy by 3.1% in the third quarter. Barclays PLC now owns 2,147,263 shares of the company’s stock worth $51,425,000 after acquiring an additional 64,753 shares during the last quarter. Finally, Range Financial Group LLC acquired a new position in Coterra Energy during the 4th quarter worth approximately $1,267,000. 87.92% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

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 shares were sold at an average price of $26.76, for a total transaction of $439,800.60. Following the sale, 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 document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Kevin William Smith sold 29,643 shares of the stock in a transaction dated Tuesday, December 3rd. The shares were sold at an average price of $26.16, for a total transaction of $775,460.88. Following the completion of the transaction, the senior vice president now owns 77,075 shares of the company’s stock, valued at $2,016,282. This represents a 27.78 % decrease in their position. The disclosure for this sale can be found here. 1.70% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on CTRA shares. Susquehanna raised their price objective on shares of Coterra Energy from $30.00 to $33.00 and gave the company a “positive” rating in a report on Thursday, November 14th. Morgan Stanley raised their price target on Coterra Energy from $27.00 to $29.00 and gave the company an “equal weight” rating in a research note on Thursday, November 14th. Citigroup upped their price objective on Coterra Energy from $28.00 to $32.00 and gave the stock a “buy” rating in a research report on Tuesday, November 26th. Barclays raised their target price on Coterra Energy from $31.00 to $33.00 and gave the stock an “overweight” rating in a research report on Thursday, November 14th. Finally, Mizuho upped their price target on Coterra Energy from $37.00 to $40.00 and gave the company an “outperform” rating in a report on Monday, December 16th. Two investment analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Coterra Energy has an average rating of “Moderate Buy” and an average price target of $32.76.

Coterra Energy Trading Up 0.1 %

Shares of CTRA stock opened at $29.18 on Thursday. The company has a market capitalization of $21.49 billion, a P/E ratio of 17.58, a price-to-earnings-growth ratio of 0.71 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 business’s 50 day moving average is $26.28 and its two-hundred day moving average is $25.07. Coterra Energy Inc. has a twelve month low of $22.30 and a twelve month high of $29.95.

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

Coterra Energy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, November 27th. Shareholders of record on Thursday, November 14th were issued a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a yield of 2.88%. The ex-dividend date of this dividend was Thursday, November 14th. Coterra Energy’s dividend payout ratio is presently 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.