Coterra Energy Inc. (NYSE:CTRA) Shares Sold by Commerce Bank

Commerce Bank cut its holdings in Coterra Energy Inc. (NYSE:CTRA) by 1.2% during the 3rd quarter, Holdings Channel reports. The firm owned 45,203 shares of the company’s stock after selling 534 shares during the period. Commerce Bank’s holdings in Coterra Energy were worth $1,083,000 at the end of the most recent reporting period.

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

Analyst Upgrades and Downgrades

CTRA has been the subject of several research analyst reports. 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 research report on Thursday, November 14th. Piper Sandler upped their price objective on Coterra Energy from $32.00 to $35.00 and gave the stock an “overweight” rating in a report on Thursday, November 14th. Wells Fargo & Company lifted their target price on Coterra Energy from $32.00 to $35.00 and gave the company an “overweight” rating in a report on Friday, November 15th. Mizuho upped their price target on Coterra Energy from $36.00 to $37.00 and gave the stock an “outperform” rating in a research note on Friday, November 1st. Finally, UBS Group lifted their price objective on Coterra Energy from $31.00 to $35.00 and gave the company a “buy” rating in a research note on Friday, November 15th. Two investment analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Coterra Energy presently has a consensus rating of “Moderate Buy” and a consensus target price of $32.41.

Insider Activity at Coterra Energy

In related 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 sale, 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 position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 1.70% of the stock is currently owned by corporate insiders.

Coterra Energy Stock Performance

NYSE:CTRA opened at $27.63 on Monday. The firm has a 50-day moving average of $24.36 and a two-hundred day moving average of $25.43. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.61 and a quick ratio of 1.56. The stock has a market cap of $20.35 billion, a P/E ratio of 16.64, a PEG ratio of 1.78 and a beta of 0.22. Coterra Energy Inc. has a 1-year low of $22.30 and a 1-year high of $28.90.

Coterra Energy (NYSE:CTRA) last issued its quarterly earnings data on Thursday, October 31st. The company reported $0.32 earnings per share for the quarter, missing analysts’ consensus estimates 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 analyst estimates of $1.28 billion. During the same quarter last year, the business earned $0.47 EPS. Coterra Energy’s revenue for the quarter was up .2% compared to the same quarter last year. On average, research analysts expect that Coterra Energy Inc. will post 1.53 earnings per share for the current fiscal year.

Coterra Energy Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 27th. Investors of record on Thursday, November 14th will be paid a $0.21 dividend. The ex-dividend date of this dividend is Thursday, November 14th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 3.04%. Coterra Energy’s dividend payout ratio (DPR) is presently 50.60%.

About Coterra Energy

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.