iA Global Asset Management Inc. Acquires 16,087 Shares of Coterra Energy Inc. (NYSE:CTRA)

iA Global Asset Management Inc. raised its holdings in shares of Coterra Energy Inc. (NYSE:CTRA) by 32.8% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 65,082 shares of the company’s stock after acquiring an additional 16,087 shares during the quarter. iA Global Asset Management Inc.’s holdings in Coterra Energy were worth $1,559,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also bought and sold shares of the company. Larson Financial Group LLC raised its holdings in Coterra Energy by 98.0% during the 2nd quarter. Larson Financial Group LLC now owns 1,081 shares of the company’s stock valued at $29,000 after acquiring an additional 535 shares during the period. Values First Advisors Inc. bought a new position in shares of Coterra Energy in the third quarter worth $57,000. Tobam bought a new position in shares of Coterra Energy in the third quarter worth $63,000. Capital Performance Advisors LLP bought a new position in shares of Coterra Energy in the third quarter worth $67,000. Finally, Family Firm Inc. bought a new position in shares of Coterra Energy in the second quarter worth $68,000. Institutional investors own 87.92% of the company’s stock.

Insider Transactions at Coterra Energy

In other news, SVP Adam M. Vela sold 16,435 shares of the 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 represents a 18.50 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Kevin William Smith sold 29,643 shares of the stock in a transaction dated Tuesday, December 3rd. The stock was sold at an average price of $26.16, for a total transaction of $775,460.88. Following the sale, the senior vice president now owns 77,075 shares of the company’s stock, valued at approximately $2,016,282. This represents a 27.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.70% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several research firms have recently weighed in on CTRA. Morgan Stanley upped their price target on shares of Coterra Energy from $27.00 to $29.00 and gave the stock an “equal weight” rating in a report on Thursday, November 14th. Wells Fargo & Company upped their price target on shares of Coterra Energy from $32.00 to $35.00 and gave the stock an “overweight” rating in a report on Friday, November 15th. Truist Financial upped their price target 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. Roth Capital raised Coterra Energy from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, August 27th. Finally, Susquehanna increased their target price on Coterra Energy from $30.00 to $33.00 and gave the company a “positive” rating in a research note on Thursday, November 14th. Two investment analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $32.47.

Coterra Energy Stock Performance

NYSE CTRA opened at $24.93 on Monday. The company has a 50-day simple moving average of $24.92 and a two-hundred day simple moving average of $25.29. 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 Inc. has a 12-month low of $22.30 and a 12-month high of $28.90. The firm has a market cap of $18.36 billion, a price-to-earnings ratio of 15.02, a PEG ratio of 1.67 and a beta of 0.27.

Coterra Energy (NYSE:CTRA) last posted its quarterly earnings results on Thursday, October 31st. The company reported $0.32 earnings per share (EPS) 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 business had revenue of $1.36 billion for the quarter, compared to analysts’ expectations of $1.28 billion. During the same quarter in the previous year, the company earned $0.47 earnings per share. The business’s quarterly revenue was up .2% on a year-over-year basis. On average, equities analysts forecast that Coterra Energy Inc. will post 1.53 EPS for the current year.

Coterra Energy Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, November 27th. Stockholders 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 dividend on an annualized basis and a dividend yield of 3.37%. Coterra Energy’s dividend payout ratio is currently 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.