Tidal Investments LLC Buys 23,844 Shares of Coterra Energy Inc. (NYSE:CTRA)

Tidal Investments LLC grew its position in shares of Coterra Energy Inc. (NYSE:CTRA) by 19.9% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 143,947 shares of the company’s stock after buying an additional 23,844 shares during the quarter. Tidal Investments LLC’s holdings in Coterra Energy were worth $3,448,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Fifth Third Bancorp increased its position in Coterra Energy by 0.6% during the second quarter. Fifth Third Bancorp now owns 71,138 shares of the company’s stock valued at $1,897,000 after acquiring an additional 399 shares during the last quarter. TCW Group Inc. increased its position in shares of Coterra Energy by 4.0% during the 2nd quarter. TCW Group Inc. now owns 10,447 shares of the company’s stock valued at $279,000 after purchasing an additional 404 shares during the last quarter. Cornercap Investment Counsel Inc. lifted its stake in shares of Coterra Energy by 0.7% in the 2nd quarter. Cornercap Investment Counsel Inc. now owns 66,280 shares of the company’s stock worth $1,768,000 after purchasing an additional 436 shares during the period. Bruce G. Allen Investments LLC boosted its holdings in shares of Coterra Energy by 17.4% in the third quarter. Bruce G. Allen Investments LLC now owns 3,033 shares of the company’s stock worth $73,000 after buying an additional 450 shares during the last quarter. Finally, Venturi Wealth Management LLC grew its position in Coterra Energy by 1.4% during the third quarter. Venturi Wealth Management LLC now owns 33,559 shares of the company’s stock valued at $804,000 after buying an additional 474 shares during the period. 87.92% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

CTRA has been the topic of several recent research reports. Barclays increased their price target on shares of Coterra Energy from $31.00 to $33.00 and gave the stock an “overweight” rating in a research report on Thursday, November 14th. Piper Sandler raised their target price on Coterra Energy from $32.00 to $35.00 and gave the stock an “overweight” rating in a report on Thursday, November 14th. Stephens boosted their price target on Coterra Energy from $28.00 to $29.00 and gave the company an “overweight” rating in a report on Friday, November 1st. JPMorgan Chase & Co. decreased their price objective on Coterra Energy from $31.00 to $26.00 and set an “overweight” rating on the stock in a research note on Thursday, September 12th. Finally, Roth Capital upgraded Coterra Energy from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, August 27th. Two investment analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $32.47.

Coterra Energy Trading Down 1.3 %

Shares of Coterra Energy stock opened at $25.33 on Friday. The company has a quick ratio of 1.56, a current ratio of 1.61 and a debt-to-equity ratio of 0.16. The firm has a market cap of $18.66 billion, a price-to-earnings ratio of 15.26, a PEG ratio of 1.64 and a beta of 0.27. Coterra Energy Inc. has a twelve month low of $22.30 and a twelve month high of $28.90. The business has a 50-day moving average price of $25.00 and a 200-day moving average price of $25.23.

Coterra Energy (NYSE:CTRA) last released its quarterly earnings data on Thursday, October 31st. The company reported $0.32 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.03). The firm had revenue of $1.36 billion during the quarter, compared to the consensus estimate 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 was up .2% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.47 EPS. Equities research analysts anticipate that Coterra Energy Inc. will post 1.53 EPS for the current fiscal year.

Coterra Energy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, November 27th. Shareholders of record on Thursday, November 14th were given 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 3.32%. Coterra Energy’s dividend payout ratio (DPR) is currently 50.60%.

Insiders Place Their Bets

In other news, SVP Kevin William Smith sold 29,643 shares of the firm’s stock in a transaction that occurred on Tuesday, December 3rd. The stock was sold at an average price of $26.16, for a total value of $775,460.88. Following the completion of the sale, the senior vice president now directly owns 77,075 shares of the company’s stock, valued at $2,016,282. This trade represents a 27.78 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Adam M. Vela sold 16,435 shares of the business’s stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of $26.76, for a total value of $439,800.60. Following the transaction, the senior vice president now directly owns 72,409 shares in the company, valued at approximately $1,937,664.84. This represents a 18.50 % decrease in their position. The disclosure for this sale can be found here. Corporate 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.