MML Investors Services LLC Boosts Stock Holdings in Coterra Energy Inc. (NYSE:CTRA)

MML Investors Services LLC grew its position in Coterra Energy Inc. (NYSE:CTRA) by 4.4% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 106,012 shares of the company’s stock after purchasing an additional 4,428 shares during the period. MML Investors Services LLC’s holdings in Coterra Energy were worth $2,539,000 as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in the company. Larson Financial Group LLC boosted its position in Coterra Energy by 98.0% in the second quarter. Larson Financial Group LLC now owns 1,081 shares of the company’s stock worth $29,000 after purchasing an additional 535 shares during the last quarter. Values First Advisors Inc. bought a new stake in shares of Coterra Energy during the 3rd quarter worth $57,000. Tobam purchased a new position in shares of Coterra Energy in the 3rd quarter worth about $63,000. Capital Performance Advisors LLP bought a new position in Coterra Energy during the third quarter valued at about $67,000. Finally, Family Firm Inc. purchased a new stake in Coterra Energy during the second quarter worth about $68,000. 87.92% of the stock is owned by institutional investors.

Insider Buying and Selling at Coterra Energy

In other Coterra Energy 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 transaction of $439,800.60. Following the completion of the sale, the senior vice president now owns 72,409 shares of the company’s stock, valued at $1,937,664.84. The trade was a 18.50 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Kevin William Smith sold 29,643 shares of the stock in a transaction dated Tuesday, December 3rd. The shares were sold at an average price of $26.16, for a total value of $775,460.88. Following the transaction, the senior vice president now owns 77,075 shares in the company, valued at $2,016,282. This trade represents a 27.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.70% of the company’s stock.

Coterra Energy Price Performance

CTRA stock opened at $25.33 on Monday. The firm has a 50 day moving average of $25.00 and a 200-day moving average of $25.21. The firm has a market capitalization of $18.66 billion, a P/E ratio of 15.26, a price-to-earnings-growth ratio of 1.64 and a beta of 0.27. Coterra Energy Inc. has a 12 month low of $22.30 and a 12 month high of $28.90. 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 (NYSE:CTRA) last announced its quarterly earnings results on Thursday, October 31st. The company reported $0.32 EPS for the quarter, missing the consensus estimate 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 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 period in the previous year, the business earned $0.47 earnings per share. As a group, sell-side analysts predict that Coterra Energy Inc. will post 1.53 earnings per share for the current fiscal year.

Coterra Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, November 27th. Shareholders of record on Thursday, November 14th were paid a $0.21 dividend. The ex-dividend date of this dividend was Thursday, November 14th. This represents a $0.84 dividend on an annualized basis and a yield of 3.32%. Coterra Energy’s dividend payout ratio is currently 50.60%.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the stock. Roth Mkm upgraded shares of Coterra Energy from a “neutral” rating to a “buy” rating and boosted their target price for the company from $25.00 to $29.00 in a research note on Tuesday, August 27th. Mizuho upped their price objective on Coterra Energy from $36.00 to $37.00 and gave the company an “outperform” rating in a research note on Friday, November 1st. Truist Financial raised their target price on Coterra Energy from $31.00 to $33.00 and gave the stock a “buy” rating in a research report on Thursday, November 14th. Morgan Stanley upped their price target on Coterra Energy from $27.00 to $29.00 and gave the company an “equal weight” 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 report on Thursday, November 14th. Two analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Coterra Energy has a consensus rating of “Moderate Buy” and an average target price of $32.47.

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.