Truvestments Capital LLC Buys New Position in Coterra Energy Inc. (NYSE:CTRA)

Truvestments Capital LLC purchased a new position in Coterra Energy Inc. (NYSE:CTRA) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 4,797 shares of the company’s stock, valued at approximately $115,000.

A number of other institutional investors have also recently made changes to their positions in the stock. Charles Schwab Investment Management Inc. lifted its position in Coterra Energy by 1.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 22,156,361 shares of the company’s stock worth $530,645,000 after buying an additional 305,626 shares during the last quarter. Hartford Funds Management Co LLC bought a new stake in shares of Coterra Energy in the 3rd quarter worth approximately $575,000. Raymond James & Associates boosted its stake in shares of Coterra Energy by 5.0% in the 2nd quarter. Raymond James & Associates now owns 1,187,663 shares of the company’s stock valued at $31,675,000 after purchasing an additional 56,748 shares in the last quarter. MQS Management LLC bought a new position in shares of Coterra Energy during the 3rd quarter valued at $776,000. Finally, Disciplined Growth Investors Inc. MN raised its position in Coterra Energy by 1.0% in the 2nd quarter. Disciplined Growth Investors Inc. MN now owns 5,063,920 shares of the company’s stock worth $135,055,000 after purchasing an additional 51,249 shares during the period. Institutional investors own 87.92% of the company’s stock.

Insider Buying and Selling at Coterra Energy

In other Coterra Energy news, SVP Adam M. Vela sold 16,435 shares of the firm’s stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $26.76, for a total transaction of $439,800.60. Following the completion of the sale, 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.70% of the stock is owned by company insiders.

Analyst Ratings Changes

Several research analysts have recently commented on CTRA shares. Roth Capital upgraded Coterra Energy from a “hold” rating to a “strong-buy” rating in a report on Tuesday, August 27th. Susquehanna boosted their price objective on Coterra Energy from $30.00 to $33.00 and gave the company a “positive” rating in a research report on Thursday, November 14th. Truist Financial raised their target price on shares of Coterra Energy from $31.00 to $33.00 and gave the stock a “buy” rating in a report on Thursday, November 14th. Citigroup upped their price objective on shares of Coterra Energy from $28.00 to $32.00 and gave the company a “buy” rating in a research note on Tuesday. Finally, Scotiabank cut their target price on Coterra Energy from $35.00 to $32.00 and set a “sector outperform” rating on the stock in a research note on Thursday, October 10th. Two analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Coterra Energy has a consensus rating of “Moderate Buy” and a consensus target price of $32.47.

Coterra Energy Stock Performance

Shares of CTRA stock opened at $26.79 on Wednesday. The company’s fifty day moving average price is $24.44 and its 200-day moving average price is $25.40. The stock has a market cap of $19.73 billion, a PE ratio of 16.14, a price-to-earnings-growth ratio of 1.80 and a beta of 0.22. The company has a current ratio of 1.61, a quick ratio of 1.56 and a debt-to-equity ratio of 0.16. Coterra Energy Inc. has a 12 month low of $22.30 and a 12 month high of $28.90.

Coterra Energy (NYSE:CTRA) last posted its quarterly earnings data on Thursday, October 31st. The company reported $0.32 EPS for the quarter, missing the consensus estimate of $0.35 by ($0.03). Coterra Energy had a return on equity of 9.38% and a net margin of 21.91%. The business had revenue of $1.36 billion for the quarter, compared to the consensus estimate of $1.28 billion. During the same period in the previous year, the firm earned $0.47 EPS. The company’s revenue was up .2% on a year-over-year basis. On average, equities analysts expect that Coterra Energy Inc. will post 1.53 EPS for the current fiscal year.

Coterra Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 27th. Shareholders of record on Thursday, November 14th will be paid a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a yield of 3.14%. The ex-dividend date is Thursday, November 14th. Coterra Energy’s payout ratio is 50.60%.

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’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.