Edgestream Partners L.P. Buys New Shares in Coterra Energy Inc. (NYSE:CTRA)

Edgestream Partners L.P. purchased a new position in Coterra Energy Inc. (NYSE:CTRA) during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 92,754 shares of the company’s stock, valued at approximately $2,221,000.

A number of other hedge funds have also recently added to or reduced their stakes in the business. Charles Schwab Investment Management Inc. raised its position in shares of 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 period. Hartford Funds Management Co LLC purchased a new position in shares of Coterra Energy in the 3rd quarter worth about $575,000. Raymond James & Associates lifted 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 purchased a new stake in shares of Coterra Energy during the 3rd quarter worth about $776,000. Finally, Disciplined Growth Investors Inc. MN increased its position in Coterra Energy by 1.0% during 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 in the last quarter. 87.92% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, SVP Adam M. Vela sold 16,435 shares of the company’s stock in a transaction that occurred on 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 transaction, the senior vice president now directly owns 72,409 shares of the company’s stock, valued at approximately $1,937,664.84. This 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 can be accessed through the SEC website. 1.70% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on CTRA. JPMorgan Chase & Co. reduced their price target on shares of Coterra Energy from $31.00 to $26.00 and set an “overweight” rating on the stock in a research report on Thursday, September 12th. Susquehanna lifted their target price on shares of Coterra Energy from $30.00 to $33.00 and gave the company a “positive” rating in a report on Thursday, November 14th. UBS Group increased their price target on Coterra Energy from $31.00 to $35.00 and gave the company a “buy” rating in a report on Friday, November 15th. Scotiabank cut their price objective on Coterra Energy from $35.00 to $32.00 and set a “sector outperform” rating on the stock in a research report on Thursday, October 10th. Finally, Wells Fargo & Company upped their target price on Coterra Energy from $32.00 to $35.00 and gave the stock an “overweight” rating in a research report on Friday, November 15th. Two equities research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Coterra Energy presently has a consensus rating of “Moderate Buy” and a consensus price target of $32.47.

Coterra Energy Price Performance

CTRA opened at $26.08 on Tuesday. The company has a market capitalization of $19.21 billion, a P/E ratio of 15.71, a PEG ratio of 1.74 and a beta of 0.22. The company has a 50-day moving average of $24.75 and a 200-day moving average of $25.35. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.56 and a current ratio of 1.61. Coterra Energy Inc. has a 1-year low of $22.30 and a 1-year high of $28.90.

Coterra Energy (NYSE:CTRA) last announced its quarterly earnings data 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). Coterra Energy had a net margin of 21.91% and a return on equity of 9.38%. The firm had revenue of $1.36 billion during the quarter, compared to the consensus estimate of $1.28 billion. During the same period in the prior year, the firm earned $0.47 earnings per share. The firm’s quarterly revenue was up .2% compared to the same quarter last year. Equities analysts expect that Coterra Energy Inc. will post 1.53 EPS for the current fiscal year.

Coterra Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, November 27th. Investors of record on Thursday, November 14th were paid a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a yield of 3.22%. The ex-dividend date of this dividend was Thursday, November 14th. Coterra Energy’s dividend payout ratio (DPR) is presently 50.60%.

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.