92,754 Shares in Coterra Energy Inc. (NYSE:CTRA) Acquired by Edgestream Partners L.P.

Edgestream Partners L.P. bought a new stake in shares of Coterra Energy Inc. (NYSE:CTRA) during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund bought 92,754 shares of the company’s stock, valued at approximately $2,221,000.

Other institutional investors also recently added to or reduced their stakes in the company. Bank of Montreal Can increased its stake in shares of Coterra Energy by 160.1% during the second quarter. Bank of Montreal Can now owns 2,898,876 shares of the company’s stock valued at $80,154,000 after acquiring an additional 1,784,192 shares during the period. Marshall Wace LLP increased its position in shares of Coterra Energy by 5,325.5% during the 2nd quarter. Marshall Wace LLP now owns 1,148,569 shares of the company’s stock valued at $30,632,000 after purchasing an additional 1,127,399 shares during the period. American Century Companies Inc. increased its position in shares of Coterra Energy by 29.1% during the 2nd quarter. American Century Companies Inc. now owns 4,498,227 shares of the company’s stock valued at $119,968,000 after purchasing an additional 1,013,107 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Coterra Energy by 395.4% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 899,838 shares of the company’s stock worth $21,551,000 after buying an additional 718,182 shares in the last quarter. Finally, Susquehanna Fundamental Investments LLC acquired a new stake in shares of Coterra Energy in the second quarter valued at $12,898,000. Institutional investors and hedge funds own 87.92% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have commented on CTRA. Wells Fargo & Company boosted their price target on shares of Coterra Energy from $32.00 to $35.00 and gave the stock an “overweight” rating in a research report on Friday, November 15th. Scotiabank cut their target price on shares of Coterra Energy from $35.00 to $32.00 and set a “sector outperform” rating for the company in a research note on Thursday, October 10th. Mizuho lifted their price target on shares of Coterra Energy from $36.00 to $37.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. Morgan Stanley increased their price objective on Coterra Energy from $27.00 to $29.00 and gave the company an “equal weight” rating in a research report on Thursday, November 14th. Finally, Roth Capital raised Coterra Energy from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, August 27th. Two equities 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 data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $32.47.

Insider Activity

In related news, SVP Adam M. Vela sold 16,435 shares of Coterra Energy stock in a transaction on Wednesday, November 20th. The shares were 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 owns 72,409 shares of the company’s stock, valued at approximately $1,937,664.84. The trade was a 18.50 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 1.70% of the stock is owned by corporate insiders.

Coterra Energy Stock Performance

CTRA stock opened at $26.08 on Tuesday. The stock has a market cap of $19.21 billion, a P/E ratio of 15.71, a P/E/G ratio of 1.74 and a beta of 0.22. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.56 and a current ratio of 1.61. The firm has a 50 day simple moving average of $24.75 and a 200 day simple moving average of $25.35. Coterra Energy Inc. has a 52 week low of $22.30 and a 52 week high of $28.90.

Coterra Energy (NYSE:CTRA) last posted its quarterly earnings results on Thursday, October 31st. The company reported $0.32 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 company had revenue of $1.36 billion for the quarter, compared to analysts’ expectations of $1.28 billion. During the same quarter in the prior year, the firm earned $0.47 earnings per share. The company’s revenue was up .2% on a year-over-year basis. Research analysts anticipate that Coterra Energy Inc. will post 1.53 earnings per share for the current fiscal year.

Coterra Energy Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, November 27th. Stockholders 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 dividend yield of 3.22%. The ex-dividend date was Thursday, November 14th. Coterra Energy’s dividend payout ratio (DPR) 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.