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

Hartford Funds Management Co LLC bought a new position in shares of Coterra Energy Inc. (NYSE:CTRA) in the third quarter, Holdings Channel.com reports. The firm bought 23,993 shares of the company’s stock, valued at approximately $575,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Charles Schwab Investment Management Inc. boosted its position in shares of Coterra Energy by 1.4% in the third quarter. Charles Schwab Investment Management Inc. now owns 22,156,361 shares of the company’s stock valued at $530,645,000 after acquiring an additional 305,626 shares during the period. Raymond James & Associates boosted its position in shares of Coterra Energy by 5.0% in the second quarter. Raymond James & Associates now owns 1,187,663 shares of the company’s stock valued at $31,675,000 after acquiring an additional 56,748 shares during the period. MQS Management LLC bought a new position in shares of Coterra Energy in the third quarter valued at approximately $776,000. Disciplined Growth Investors Inc. MN boosted its position in shares of Coterra Energy by 1.0% in the second quarter. Disciplined Growth Investors Inc. MN now owns 5,063,920 shares of the company’s stock valued at $135,055,000 after acquiring an additional 51,249 shares during the period. Finally, National Pension Service boosted its position in shares of Coterra Energy by 14.0% in the third quarter. National Pension Service now owns 1,335,880 shares of the company’s stock valued at $31,994,000 after acquiring an additional 164,048 shares during the period. Institutional investors own 87.92% of the company’s stock.

Insider Activity at Coterra Energy

In related news, SVP Adam M. Vela sold 16,435 shares of the company’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 completion of the sale, the senior vice president now directly owns 72,409 shares in the company, valued at $1,937,664.84. This represents a 18.50 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. 1.70% of the stock is currently owned by company insiders.

Coterra Energy Trading Up 0.7 %

CTRA stock opened at $27.63 on Friday. The company has a market capitalization of $20.35 billion, a PE ratio of 16.64, a price-to-earnings-growth ratio of 1.78 and a beta of 0.22. Coterra Energy Inc. has a one year low of $22.30 and a one year high of $28.90. The company’s 50 day moving average price is $24.36 and its two-hundred day moving average price is $25.45. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.56 and a current ratio of 1.61.

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 return on equity of 9.38% and a net margin of 21.91%. The business had revenue of $1.36 billion for the quarter, compared to analysts’ expectations of $1.28 billion. During the same period last year, the business posted $0.47 earnings per share. The company’s revenue was up .2% compared to the same quarter last year. As a group, analysts predict 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 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 is currently 50.60%.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on CTRA shares. Barclays raised their price objective on shares of Coterra Energy from $31.00 to $33.00 and gave the company an “overweight” rating in a research report on Thursday, November 14th. Wells Fargo & Company raised their target price on shares of Coterra Energy from $32.00 to $35.00 and gave the company an “overweight” rating in a research note on Friday, November 15th. Truist Financial raised their target price on shares of Coterra Energy from $31.00 to $33.00 and gave the company a “buy” rating in a research note on Thursday, November 14th. 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 note on Thursday, November 14th. Finally, Stephens raised their target price on shares of Coterra Energy from $28.00 to $29.00 and gave the company an “overweight” rating in a research note on Friday, November 1st. Two research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $32.41.

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.