Lake Street Advisors Group LLC Raises Position in Coterra Energy Inc. (NYSE:CTRA)

Lake Street Advisors Group LLC lifted its stake in Coterra Energy Inc. (NYSE:CTRA) by 6.6% in the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 10,967 shares of the company’s stock after purchasing an additional 683 shares during the quarter. Lake Street Advisors Group LLC’s holdings in Coterra Energy were worth $278,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Fisher Asset Management LLC increased its position in Coterra Energy by 2.9% during the second quarter. Fisher Asset Management LLC now owns 13,982 shares of the company’s stock valued at $354,000 after acquiring an additional 398 shares during the last quarter. Insight Wealth Strategies LLC raised its position in Coterra Energy by 0.7% in the 2nd quarter. Insight Wealth Strategies LLC now owns 61,570 shares of the company’s stock worth $1,558,000 after purchasing an additional 400 shares during the period. Meitav Investment House Ltd. bought a new stake in Coterra Energy in the second quarter worth about $213,000. MONECO Advisors LLC boosted its position in shares of Coterra Energy by 2.4% during the second quarter. MONECO Advisors LLC now owns 17,375 shares of the company’s stock valued at $440,000 after buying an additional 404 shares during the period. Finally, Rothschild Investment Corp IL grew its stake in shares of Coterra Energy by 0.7% during the second quarter. Rothschild Investment Corp IL now owns 58,678 shares of the company’s stock valued at $1,485,000 after buying an additional 417 shares during the last quarter. Hedge funds and other institutional investors own 90.54% of the company’s stock.

Insider Transactions at Coterra Energy

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

Coterra Energy Stock Up 1.6 %

NYSE CTRA traded up $0.42 during trading on Friday, hitting $26.75. The company’s stock had a trading volume of 7,284,620 shares, compared to its average volume of 7,373,596. Coterra Energy Inc. has a fifty-two week low of $22.25 and a fifty-two week high of $29.89. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.04 and a quick ratio of 1.01. The company has a market cap of $20.12 billion, a PE ratio of 9.19, a P/E/G ratio of 0.22 and a beta of 0.34. The business’s 50 day simple moving average is $27.62 and its 200-day simple moving average is $26.53.

Coterra Energy Announces Dividend

The business also recently declared 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 dividend on an annualized basis and a yield of 2.99%. Coterra Energy’s payout ratio is 27.49%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the company. Piper Sandler raised Coterra Energy from a “neutral” rating to an “overweight” rating and raised their price target for the stock from $30.00 to $35.00 in a research note on Monday, August 14th. Stephens reiterated an “overweight” rating and set a $32.00 target price on shares of Coterra Energy in a report on Tuesday, August 8th. Morgan Stanley boosted their price target on shares of Coterra Energy from $26.00 to $27.00 and gave the company an “equal weight” rating in a report on Friday, August 18th. Mizuho reiterated a “buy” rating and set a $42.00 price objective on shares of Coterra Energy in a research note on Tuesday, September 19th. Finally, Stifel Nicolaus boosted their price objective on shares of Coterra Energy from $35.00 to $36.00 and gave the stock a “buy” rating in a research note on Friday, August 18th. Eleven analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, Coterra Energy presently has a consensus rating of “Hold” and a consensus target price of $31.93.

Coterra Energy Company 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.