Edgestream Partners L.P. Invests $1.54 Million in Coterra Energy Inc. (NYSE:CTRA)

Edgestream Partners L.P. bought a new position in shares of Coterra Energy Inc. (NYSE:CTRA) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 60,850 shares of the company’s stock, valued at approximately $1,540,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. bought a new stake in Coterra Energy during the 1st quarter worth approximately $2,472,575,000. State Street Corp purchased a new stake in Coterra Energy during the 1st quarter valued at approximately $1,493,855,000. Geode Capital Management LLC grew its holdings in Coterra Energy by 5.7% during the 1st quarter. Geode Capital Management LLC now owns 18,494,265 shares of the company’s stock valued at $454,088,000 after buying an additional 1,000,620 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings 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 valued at $400,877,000 after buying an additional 586,259 shares in the last quarter. Finally, Victory Capital Management Inc. grew its holdings in Coterra Energy by 8.0% during the 2nd quarter. Victory Capital Management Inc. now owns 15,400,833 shares of the company’s stock valued at $389,641,000 after buying an additional 1,147,286 shares in the last quarter. Institutional investors own 90.54% of the company’s stock.

Insider Transactions at Coterra Energy

In other news, Director Dan O. Dinges sold 68,275 shares of Coterra Energy stock in a transaction 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 sale, the director now directly owns 3,152,392 shares in the company, valued at $85,808,110.24. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, Director Dan O. Dinges sold 68,275 shares of Coterra Energy stock in a transaction 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 sale, the director now directly owns 3,152,392 shares in the company, valued at $85,808,110.24. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Dan O. Dinges sold 400,000 shares of Coterra Energy stock in a transaction dated Monday, September 25th. The shares were sold at an average price of $26.60, for a total value 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 disclosure for this sale can be found here. Corporate insiders own 1.70% of the company’s stock.

Coterra Energy Stock Down 0.2 %

NYSE:CTRA opened at $26.69 on Tuesday. Coterra Energy Inc. has a twelve month low of $22.25 and a twelve month high of $29.89. The company has a market cap of $20.08 billion, a price-to-earnings ratio of 9.17, a price-to-earnings-growth ratio of 0.22 and a beta of 0.34. The stock has a fifty day simple moving average of $27.57 and a 200-day simple moving average of $26.59. The company has a current ratio of 1.04, a quick ratio of 1.01 and a debt-to-equity ratio of 0.12.

Coterra Energy Announces Dividend

The firm 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 annualized dividend and a dividend yield of 3.00%. Coterra Energy’s dividend payout ratio (DPR) is 27.49%.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the stock. Piper Sandler raised shares of Coterra Energy from a “neutral” rating to an “overweight” rating and increased their price objective for the company from $30.00 to $35.00 in a report on Monday, August 14th. Citigroup raised their target price on shares of Coterra Energy from $26.00 to $27.00 and gave the company a “neutral” rating in a report on Wednesday, September 20th. Stifel Nicolaus raised their target price on shares of Coterra Energy from $35.00 to $36.00 and gave the company a “buy” rating in a report on Friday, August 18th. Stephens reissued an “overweight” rating and issued a $32.00 target price on shares of Coterra Energy in a report on Tuesday, August 8th. Finally, Mizuho reissued a “buy” rating and issued a $42.00 target price on shares of Coterra Energy in a report on Tuesday, September 19th. Eleven research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $31.93.

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 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.