Covestor Ltd Increases Stock Holdings in Coterra Energy Inc. (NYSE:CTRA)

Covestor Ltd lifted its stake in shares of Coterra Energy Inc. (NYSE:CTRA) by 7.5% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 15,813 shares of the company’s stock after purchasing an additional 1,106 shares during the quarter. Coterra Energy comprises approximately 0.3% of Covestor Ltd’s portfolio, making the stock its 24th biggest position. Covestor Ltd’s holdings in Coterra Energy were worth $400,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of the stock. ICA Group Wealth Management LLC purchased a new stake in shares of Coterra Energy in the fourth quarter valued at $25,000. Ameritas Advisory Services LLC purchased a new stake in shares of Coterra Energy during the first quarter worth about $30,000. Gradient Investments LLC raised its position in shares of Coterra Energy by 1,976.2% in the second quarter. Gradient Investments LLC now owns 1,308 shares of the company’s stock valued at $33,000 after buying an additional 1,245 shares during the last quarter. Beacon Capital Management LLC lifted its stake in shares of Coterra Energy by 302.5% during the second quarter. Beacon Capital Management LLC now owns 1,441 shares of the company’s stock valued at $36,000 after buying an additional 1,083 shares during the period. Finally, Ceredex Value Advisors LLC acquired a new stake in Coterra Energy during the second quarter worth approximately $38,000. 90.54% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts have weighed in on CTRA shares. Bank of America boosted their price target on Coterra Energy from $32.00 to $34.00 in a report on Wednesday, September 27th. Citigroup lifted their price target on Coterra Energy from $26.00 to $27.00 and gave the company a “neutral” rating in a report on Wednesday, September 20th. Mizuho restated a “buy” rating and issued a $42.00 target price on shares of Coterra Energy in a report on Tuesday, September 19th. Stephens reaffirmed an “overweight” rating and set a $32.00 price target on shares of Coterra Energy in a research note on Tuesday, August 8th. Finally, Truist Financial boosted their price objective on shares of Coterra Energy from $29.00 to $30.00 and gave the company a “hold” rating in a research note on Wednesday, November 8th. Eleven equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $31.93.

Coterra Energy Stock Down 0.4 %

Coterra Energy stock traded down $0.10 during midday trading on Tuesday, hitting $26.58. 1,538,851 shares of the company were exchanged, compared to its average volume of 7,336,533. The company has a market cap of $19.99 billion, a PE ratio of 9.15, a price-to-earnings-growth ratio of 0.22 and a beta of 0.34. Coterra Energy Inc. has a fifty-two week low of $22.25 and a fifty-two week high of $29.89. The company’s fifty day moving average price is $27.57 and its 200-day moving average price is $26.59. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.04 and a quick ratio of 1.01.

Coterra Energy Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, November 30th. Stockholders of record on Thursday, November 16th will be given 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 dividend yield of 3.01%. Coterra Energy’s payout ratio is currently 27.49%.

Insider Activity

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

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.