Coterra Energy Inc. (NYSE:CTRA) Shares Purchased by Daymark Wealth Partners LLC

Daymark Wealth Partners LLC raised its stake in Coterra Energy Inc. (NYSE:CTRA) by 6.0% during the fourth quarter, Holdings Channel reports. The firm owned 52,525 shares of the company’s stock after purchasing an additional 2,963 shares during the period. Daymark Wealth Partners LLC’s holdings in Coterra Energy were worth $1,341,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. Mercer Global Advisors Inc. ADV grew its holdings in shares of Coterra Energy by 7.3% during the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 37,485 shares of the company’s stock worth $1,000,000 after purchasing an additional 2,536 shares during the period. AE Wealth Management LLC lifted its position in Coterra Energy by 36.1% during the second quarter. AE Wealth Management LLC now owns 11,481 shares of the company’s stock valued at $306,000 after buying an additional 3,046 shares in the last quarter. ProShare Advisors LLC grew its stake in Coterra Energy by 25.8% during the second quarter. ProShare Advisors LLC now owns 160,840 shares of the company’s stock worth $4,290,000 after buying an additional 32,993 shares during the period. EverSource Wealth Advisors LLC increased its position in shares of Coterra Energy by 48.0% in the second quarter. EverSource Wealth Advisors LLC now owns 3,479 shares of the company’s stock worth $90,000 after acquiring an additional 1,128 shares in the last quarter. Finally, Public Sector Pension Investment Board raised its stake in shares of Coterra Energy by 3.6% in the 2nd quarter. Public Sector Pension Investment Board now owns 129,480 shares of the company’s stock valued at $3,453,000 after acquiring an additional 4,475 shares during the period. 87.92% of the stock is owned by hedge funds and other institutional investors.

Coterra Energy Stock Performance

Shares of Coterra Energy stock opened at $29.18 on Thursday. The firm has a market cap of $21.49 billion, a PE ratio of 17.58, a price-to-earnings-growth ratio of 0.71 and a beta of 0.27. Coterra Energy Inc. has a 1 year low of $22.30 and a 1 year high of $29.95. The firm’s 50-day simple moving average is $26.28 and its 200-day simple moving average is $25.07. 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 released its earnings results on Thursday, October 31st. The company reported $0.32 EPS for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.03). Coterra Energy had a return on equity of 9.38% and a net margin of 21.91%. The firm had revenue of $1.36 billion for the quarter, compared to the consensus estimate of $1.28 billion. During the same period in the prior year, the business earned $0.47 EPS. The company’s quarterly revenue was up .2% on a year-over-year basis. Equities analysts forecast that Coterra Energy Inc. will post 1.54 earnings per share for the current fiscal year.

Coterra Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, November 27th. Shareholders of record on Thursday, November 14th were paid a dividend of $0.21 per share. The ex-dividend date of this dividend was Thursday, November 14th. This represents a $0.84 annualized dividend and a yield of 2.88%. Coterra Energy’s payout ratio is 50.60%.

Insiders Place Their Bets

In other 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 completion of 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Kevin William Smith sold 29,643 shares of the stock in a transaction that occurred on Tuesday, December 3rd. The stock was sold at an average price of $26.16, for a total value of $775,460.88. Following the sale, the senior vice president now owns 77,075 shares in the company, valued at $2,016,282. The trade was a 27.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.70% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several brokerages recently issued reports on CTRA. Stephens increased their price target on Coterra Energy from $28.00 to $29.00 and gave the company an “overweight” rating in a report on Friday, November 1st. Morgan Stanley increased their target price 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. Susquehanna raised their target price on Coterra Energy from $30.00 to $33.00 and gave the company a “positive” rating in a report on Thursday, November 14th. UBS Group upped their price target on Coterra Energy from $31.00 to $35.00 and gave the stock a “buy” rating in a report on Friday, November 15th. Finally, Wells Fargo & Company lifted their price objective 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. Two 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. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $32.76.

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.