Isthmus Partners LLC Makes New $9.55 Million Investment in Coterra Energy Inc. (NYSE:CTRA)

Isthmus Partners LLC purchased a new position in Coterra Energy Inc. (NYSE:CTRA) in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 398,904 shares of the company’s stock, valued at approximately $9,554,000. Isthmus Partners LLC owned approximately 0.05% of Coterra Energy at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Charles Schwab Investment Management Inc. increased its holdings in shares of Coterra Energy by 1.4% in the third quarter. Charles Schwab Investment Management Inc. now owns 22,156,361 shares of the company’s stock worth $530,645,000 after acquiring an additional 305,626 shares in the last quarter. Hartford Funds Management Co LLC bought a new position in shares of Coterra Energy during the third quarter worth about $575,000. Raymond James & Associates grew its holdings in shares of Coterra Energy by 5.0% during the second quarter. Raymond James & Associates now owns 1,187,663 shares of the company’s stock worth $31,675,000 after buying an additional 56,748 shares in the last quarter. MQS Management LLC bought a new position in shares of Coterra Energy during the third quarter worth about $776,000. Finally, Disciplined Growth Investors Inc. MN grew its holdings in shares of Coterra Energy by 1.0% during the second quarter. Disciplined Growth Investors Inc. MN now owns 5,063,920 shares of the company’s stock worth $135,055,000 after buying an additional 51,249 shares in the last quarter. 87.92% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the company. Citigroup increased their price objective on Coterra Energy from $28.00 to $32.00 and gave the stock a “buy” rating in a report on Tuesday. Roth Mkm upgraded Coterra Energy from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $25.00 to $29.00 in a report on Tuesday, August 27th. Wells Fargo & Company raised their price target on Coterra Energy from $32.00 to $35.00 and gave the company an “overweight” rating in a research note on Friday, November 15th. Morgan Stanley raised their price target on Coterra Energy from $27.00 to $29.00 and gave the company an “equal weight” rating in a research note on Thursday, November 14th. Finally, Barclays raised their price target on Coterra Energy from $31.00 to $33.00 and gave the company an “overweight” rating in a research note on Thursday, November 14th. Two research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $32.47.

Coterra Energy Stock Performance

CTRA opened at $26.68 on Friday. Coterra Energy Inc. has a 12-month low of $22.30 and a 12-month high of $28.90. The stock has a market cap of $19.65 billion, a price-to-earnings ratio of 16.07, a PEG ratio of 1.75 and a beta of 0.22. The business has a 50 day moving average of $24.65 and a 200-day moving average of $25.41. The company has a quick ratio of 1.56, a current ratio of 1.61 and a debt-to-equity ratio of 0.16.

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

Coterra Energy Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, November 27th. Investors of record on Thursday, November 14th were issued a dividend of $0.21 per share. The ex-dividend date of this dividend was Thursday, November 14th. This represents a $0.84 annualized dividend and a yield of 3.15%. Coterra Energy’s payout ratio is currently 50.60%.

Insider Buying and Selling

In other Coterra Energy news, SVP Adam M. Vela sold 16,435 shares of Coterra Energy stock in a transaction on 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 of the company’s stock, valued at $1,937,664.84. The trade was a 18.50 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 1.70% of the stock is currently owned by insiders.

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.