Coterra Energy Inc. (NYSE:CTRA) Shares Sold by Pekin Hardy Strauss Inc.

Pekin Hardy Strauss Inc. reduced its position in Coterra Energy Inc. (NYSE:CTRA) by 3.9% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 49,920 shares of the company’s stock after selling 2,000 shares during the quarter. Pekin Hardy Strauss Inc.’s holdings in Coterra Energy were worth $1,196,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Fortitude Family Office LLC increased its stake in shares of Coterra Energy by 154.9% during the second quarter. Fortitude Family Office LLC now owns 933 shares of the company’s stock worth $25,000 after buying an additional 567 shares during the period. Larson Financial Group LLC raised its stake in Coterra Energy by 98.0% during the 2nd quarter. Larson Financial Group LLC now owns 1,081 shares of the company’s stock worth $29,000 after acquiring an additional 535 shares in the last quarter. Values First Advisors Inc. purchased a new stake in shares of Coterra Energy in the 3rd quarter valued at about $57,000. Tobam purchased a new stake in Coterra Energy in the third quarter valued at approximately $63,000. Finally, EverSource Wealth Advisors LLC raised its position in Coterra Energy by 31.0% in the 1st quarter. EverSource Wealth Advisors LLC now owns 2,351 shares of the company’s stock valued at $64,000 after purchasing an additional 557 shares during the last quarter. 87.92% of the stock is currently owned by hedge funds and other institutional investors.

Coterra Energy Stock Up 0.7 %

Shares of NYSE:CTRA opened at $27.63 on Monday. Coterra Energy Inc. has a 1 year low of $22.30 and a 1 year high of $28.90. The stock has a 50-day simple moving average of $24.36 and a 200-day simple moving average of $25.43. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.56 and a current ratio of 1.61. The stock has a market capitalization of $20.35 billion, a P/E ratio of 16.64, a PEG ratio of 1.78 and a beta of 0.22.

Coterra Energy (NYSE:CTRA) last announced its quarterly earnings results on Thursday, October 31st. The company reported $0.32 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.35 by ($0.03). The company had revenue of $1.36 billion during the quarter, compared to analyst estimates of $1.28 billion. Coterra Energy had a net margin of 21.91% and a return on equity of 9.38%. The firm’s revenue for the quarter was up .2% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.47 earnings per share. Equities analysts forecast that Coterra Energy Inc. will post 1.53 earnings per share for the current year.

Coterra Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 27th. Shareholders of record on Thursday, November 14th will be issued a $0.21 dividend. The ex-dividend date of this dividend is Thursday, November 14th. This represents a $0.84 dividend on an annualized basis and a yield of 3.04%. Coterra Energy’s dividend payout ratio is currently 50.60%.

Analyst Ratings Changes

A number of analysts have weighed in on CTRA shares. Stephens increased their price objective on Coterra Energy from $28.00 to $29.00 and gave the stock an “overweight” rating in a research report on Friday, November 1st. Roth Capital raised shares of Coterra Energy from a “hold” rating to a “strong-buy” rating in a report on Tuesday, August 27th. Morgan Stanley upped their target price on Coterra Energy from $27.00 to $29.00 and gave the company an “equal weight” rating in a report on Thursday, November 14th. Piper Sandler increased their price target on shares of Coterra Energy from $32.00 to $35.00 and gave the company an “overweight” rating in a research report on Thursday, November 14th. Finally, Susquehanna lifted their price objective on Coterra Energy from $30.00 to $33.00 and gave the stock a “positive” rating in a research report on Thursday, November 14th. Two investment analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $32.41.

Insider Buying and Selling

In related news, SVP Adam M. Vela sold 16,435 shares of Coterra Energy stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of $26.76, for a total value of $439,800.60. Following the completion of the transaction, the senior vice president now directly owns 72,409 shares in the company, valued at approximately $1,937,664.84. This trade 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 is accessible through this link. 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’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.