Partnership Wealth Management LLC Makes New Investment in Coterra Energy Inc. (NYSE:CTRA)

Partnership Wealth Management LLC bought a new position in shares of Coterra Energy Inc. (NYSE:CTRA) during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 43,867 shares of the company’s stock, valued at approximately $1,120,000. Coterra Energy accounts for about 0.9% of Partnership Wealth Management LLC’s investment portfolio, making the stock its 29th biggest position.

Several other institutional investors have also made changes to their positions in the stock. Fulton Bank N.A. increased its holdings in Coterra Energy by 4.0% in the 4th quarter. Fulton Bank N.A. now owns 25,398 shares of the company’s stock valued at $649,000 after buying an additional 984 shares during the period. Range Financial Group LLC bought a new stake in Coterra Energy during the fourth quarter worth $1,267,000. GAMMA Investing LLC lifted its stake in Coterra Energy by 47.4% during the fourth quarter. GAMMA Investing LLC now owns 11,962 shares of the company’s stock worth $306,000 after purchasing an additional 3,845 shares during the last quarter. Confluence Investment Management LLC increased its stake in shares of Coterra Energy by 6.3% in the 4th quarter. Confluence Investment Management LLC now owns 22,837 shares of the company’s stock valued at $583,000 after purchasing an additional 1,355 shares during the last quarter. Finally, Franklin Resources Inc. raised its holdings in shares of Coterra Energy by 40.0% during the 3rd quarter. Franklin Resources Inc. now owns 1,194,064 shares of the company’s stock worth $29,147,000 after buying an additional 341,180 shares in the last quarter. 87.92% of the stock is currently owned by institutional investors.

Coterra Energy Trading Up 2.9 %

NYSE CTRA traded up $0.76 during trading hours on Wednesday, hitting $27.12. 9,032,836 shares of the company’s stock were exchanged, compared to its average volume of 5,623,621. The firm has a market cap of $19.98 billion, a price-to-earnings ratio of 16.34, a PEG ratio of 1.64 and a beta of 0.27. The stock has a 50-day simple moving average of $25.30 and a 200 day simple moving average of $24.92. The company has a current ratio of 1.61, a quick ratio of 1.56 and a debt-to-equity ratio of 0.16. Coterra Energy Inc. has a 1-year low of $22.30 and a 1-year high of $28.90.

Coterra Energy (NYSE:CTRA) last announced its quarterly earnings data on Thursday, October 31st. The company reported $0.32 EPS for the quarter, missing the consensus estimate of $0.35 by ($0.03). The company had revenue of $1.36 billion for the quarter, compared to analyst estimates of $1.28 billion. Coterra Energy had a return on equity of 9.38% and a net margin of 21.91%. The business’s quarterly revenue was up .2% compared to the same quarter last year. During the same period last year, the business earned $0.47 EPS. On average, equities analysts forecast that Coterra Energy Inc. will post 1.53 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 dividend of $0.21 per share. The ex-dividend date was Thursday, November 14th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 3.10%. Coterra Energy’s dividend payout ratio (DPR) is presently 50.60%.

Insider Activity at Coterra Energy

In other Coterra Energy news, SVP Kevin William Smith sold 29,643 shares of Coterra Energy stock in a transaction dated Tuesday, December 3rd. The stock was 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 in the company, valued at approximately $2,016,282. The trade was a 27.78 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Adam M. Vela sold 16,435 shares of the stock in a transaction that occurred 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 sale, the senior vice president now directly owns 72,409 shares of the company’s stock, valued at approximately $1,937,664.84. This trade represents a 18.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.70% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of research analysts have issued reports on CTRA shares. UBS Group lifted their target price on Coterra Energy from $31.00 to $35.00 and gave the company a “buy” rating in a research report on Friday, November 15th. JPMorgan Chase & Co. lowered their price objective on shares of Coterra Energy from $31.00 to $26.00 and set an “overweight” rating for the company in a research report on Thursday, September 12th. Morgan Stanley raised their target price on shares of Coterra Energy from $27.00 to $29.00 and gave the company an “equal weight” rating in a research report on Thursday, November 14th. Stephens upped their price target on shares of Coterra Energy from $28.00 to $29.00 and gave the stock an “overweight” rating in a report on Friday, November 1st. Finally, Citigroup raised their price objective on Coterra Energy from $28.00 to $32.00 and gave the company a “buy” rating in a report on Tuesday, November 26th. Two equities research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $32.53.

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.