Isthmus Partners LLC Acquires Shares of 398,904 Coterra Energy Inc. (NYSE:CTRA)

Isthmus Partners LLC purchased a new stake in Coterra Energy Inc. (NYSE:CTRA) during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 398,904 shares of the company’s stock, valued at approximately $9,554,000.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Fifth Third Bancorp increased its stake in shares of Coterra Energy by 0.6% in the 2nd quarter. Fifth Third Bancorp now owns 71,138 shares of the company’s stock valued at $1,897,000 after purchasing an additional 399 shares during the last quarter. TCW Group Inc. grew its position in Coterra Energy by 4.0% during the 2nd quarter. TCW Group Inc. now owns 10,447 shares of the company’s stock worth $279,000 after acquiring an additional 404 shares during the last quarter. Cornercap Investment Counsel Inc. grew its position in Coterra Energy by 0.7% during the 2nd quarter. Cornercap Investment Counsel Inc. now owns 66,280 shares of the company’s stock worth $1,768,000 after acquiring an additional 436 shares during the last quarter. Bruce G. Allen Investments LLC grew its position in Coterra Energy by 17.4% during the 3rd quarter. Bruce G. Allen Investments LLC now owns 3,033 shares of the company’s stock worth $73,000 after acquiring an additional 450 shares during the last quarter. Finally, Venturi Wealth Management LLC grew its position in Coterra Energy by 1.4% during the 3rd quarter. Venturi Wealth Management LLC now owns 33,559 shares of the company’s stock worth $804,000 after acquiring an additional 474 shares during the last quarter. Institutional investors own 87.92% of the company’s stock.

Coterra Energy Stock Down 0.4 %

Shares of NYSE:CTRA opened at $26.68 on Friday. The company has a market capitalization of $19.65 billion, a price-to-earnings ratio of 16.07, a P/E/G ratio of 1.75 and a beta of 0.22. 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 business’s 50-day moving average is $24.65 and its 200-day moving average is $25.41. 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 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.03). Coterra Energy had a net margin of 21.91% and a return on equity of 9.38%. The business 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 earned $0.47 earnings per share. The firm’s revenue for the quarter was up .2% compared to the same quarter last year. Equities research analysts predict that Coterra Energy Inc. will post 1.53 earnings per share for the current year.

Coterra Energy Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, November 27th. Investors of record on Thursday, November 14th were paid a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a yield of 3.15%. The ex-dividend date of this dividend was Thursday, November 14th. Coterra Energy’s dividend payout ratio (DPR) is currently 50.60%.

Analyst Upgrades and Downgrades

CTRA has been the topic of a number of research reports. Citigroup boosted 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. Stephens boosted their price objective on Coterra Energy from $28.00 to $29.00 and gave the stock an “overweight” rating in a research report on Friday, November 1st. Piper Sandler boosted their price objective on Coterra Energy from $32.00 to $35.00 and gave the stock an “overweight” rating in a research report on Thursday, November 14th. Scotiabank reduced their price objective on Coterra Energy from $35.00 to $32.00 and set a “sector outperform” rating on the stock in a research report on Thursday, October 10th. Finally, JPMorgan Chase & Co. cut their target price on Coterra Energy from $31.00 to $26.00 and set an “overweight” rating on the stock in a report on Thursday, September 12th. Two investment analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $32.47.

Insider Buying and Selling

In related news, SVP Adam M. Vela sold 16,435 shares of the company’s stock in a transaction that occurred on Wednesday, November 20th. The stock was sold at an average price of $26.76, for a total transaction of $439,800.60. Following the transaction, the senior vice president now directly owns 72,409 shares of the company’s stock, valued at approximately $1,937,664.84. This represents a 18.50 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.70% of the stock is owned by company insiders.

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.