Cambria Investment Management L.P. Makes New Investment in Coterra Energy Inc. (NYSE:CTRA)

Cambria Investment Management L.P. bought a new position in shares of Coterra Energy Inc. (NYSE:CTRA) in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund bought 288,920 shares of the company’s stock, valued at approximately $7,310,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. Cetera Advisor Networks LLC lifted its position in Coterra Energy by 0.5% during the 2nd quarter. Cetera Advisor Networks LLC now owns 128,395 shares of the company’s stock worth $3,248,000 after acquiring an additional 671 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position in Coterra Energy by 3.8% during the 2nd quarter. Charles Schwab Investment Management Inc. now owns 15,844,954 shares of the company’s stock worth $400,877,000 after acquiring an additional 586,259 shares during the last quarter. AlphaCore Capital LLC acquired a new position in Coterra Energy during the 2nd quarter worth $6,267,000. Burney Co. lifted its position in Coterra Energy by 7.2% during the 2nd quarter. Burney Co. now owns 84,944 shares of the company’s stock worth $2,149,000 after acquiring an additional 5,680 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its holdings in shares of Coterra Energy by 1.0% during the 2nd quarter. Dimensional Fund Advisors LP now owns 9,215,544 shares of the company’s stock worth $233,148,000 after purchasing an additional 89,195 shares during the period. Institutional investors and hedge funds own 90.54% of the company’s stock.

Insiders Place Their Bets

In other news, Director Dan O. Dinges sold 68,275 shares of the company’s stock in a transaction that occurred on Wednesday, September 27th. The shares were sold at an average price of $27.22, for a total transaction of $1,858,445.50. Following the transaction, the director now directly owns 3,152,392 shares in the company, valued at $85,808,110.24. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, Director Dan O. Dinges sold 68,275 shares of the company’s stock in a transaction that occurred on Wednesday, September 27th. The shares were sold at an average price of $27.22, for a total transaction of $1,858,445.50. Following the transaction, the director now directly owns 3,152,392 shares in the company, valued at $85,808,110.24. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Dan O. Dinges sold 400,000 shares of the company’s stock in a transaction that occurred on Monday, September 25th. The stock was sold at an average price of $26.60, for a total transaction of $10,640,000.00. Following the transaction, the director now owns 3,302,392 shares in the company, valued at $87,843,627.20. The disclosure for this sale can be found here. Insiders own 1.70% of the company’s stock.

Analyst Ratings Changes

CTRA has been the topic of several research reports. Bank of America boosted their price objective on shares of Coterra Energy from $32.00 to $34.00 in a report on Wednesday, September 27th. UBS Group boosted their price objective on shares of Coterra Energy from $25.00 to $33.00 and gave the stock a “neutral” rating in a report on Thursday, August 17th. Truist Financial boosted their price objective on shares of Coterra Energy from $29.00 to $30.00 and gave the stock a “hold” rating in a report on Wednesday, November 8th. Susquehanna boosted their price objective on shares of Coterra Energy from $28.00 to $31.00 and gave the stock a “neutral” rating in a report on Wednesday, October 18th. Finally, Mizuho restated a “buy” rating and set a $42.00 price objective on shares of Coterra Energy in a report on Tuesday, September 19th. Eleven investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $31.93.

Coterra Energy Price Performance

Coterra Energy stock traded down $0.05 during trading hours on Wednesday, hitting $27.16. 369,849 shares of the stock were exchanged, compared to its average volume of 7,350,583. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.01 and a current ratio of 1.04. The stock has a market capitalization of $20.43 billion, a P/E ratio of 9.35, a P/E/G ratio of 0.22 and a beta of 0.34. Coterra Energy Inc. has a 12 month low of $22.25 and a 12 month high of $29.89. The business’s 50-day moving average is $27.67 and its two-hundred day moving average is $26.53.

Coterra Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, November 30th. Shareholders of record on Thursday, November 16th will be paid a dividend of $0.20 per share. The ex-dividend date of this dividend is Wednesday, November 15th. This represents a $0.80 annualized dividend and a yield of 2.95%. Coterra Energy’s dividend payout ratio is 27.49%.

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 primarily focuses on the Marcellus Shale with approximately 183,000 net acres in the dry gas window of the play located in Susquehanna County, Pennsylvania.