Healthcare of Ontario Pension Plan Trust Fund Invests $1.71 Million in Coterra Energy Inc. (NYSE:CTRA)

Healthcare of Ontario Pension Plan Trust Fund bought a new stake in shares of Coterra Energy Inc. (NYSE:CTRA) during the third quarter, Holdings Channel reports. The fund bought 71,300 shares of the company’s stock, valued at approximately $1,708,000.

A number of other institutional investors have also recently added to or reduced their stakes in CTRA. Fifth Third Bancorp raised 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 worth $1,897,000 after acquiring an additional 399 shares during the period. TCW Group Inc. raised 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 worth $279,000 after purchasing an additional 404 shares during the last quarter. Cornercap Investment Counsel Inc. lifted its stake in Coterra Energy by 0.7% in the 2nd quarter. Cornercap Investment Counsel Inc. now owns 66,280 shares of the company’s stock valued at $1,768,000 after buying an additional 436 shares in the last quarter. Bruce G. Allen Investments LLC boosted its holdings 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 buying an additional 450 shares during the last quarter. Finally, Venturi Wealth Management LLC boosted its holdings in Coterra Energy by 1.4% in the 3rd quarter. Venturi Wealth Management LLC now owns 33,559 shares of the company’s stock worth $804,000 after buying an additional 474 shares during the last quarter. Institutional investors and hedge funds own 87.92% of the company’s stock.

Insider Activity at Coterra Energy

In other Coterra Energy news, SVP Adam M. Vela sold 16,435 shares of the business’s 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 sale, the senior vice president now directly owns 72,409 shares in the company, valued at $1,937,664.84. This represents a 18.50 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 1.70% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

CTRA has been the topic of several research reports. Roth Mkm upgraded Coterra Energy from a “neutral” rating to a “buy” rating and raised their target price for the company from $25.00 to $29.00 in a research report on Tuesday, August 27th. 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 report on Thursday, September 12th. Citigroup upped their target price on shares of Coterra Energy from $28.00 to $32.00 and gave the stock a “buy” rating in a report on Tuesday, November 26th. Wells Fargo & Company raised their price target on shares of Coterra Energy from $32.00 to $35.00 and gave the stock an “overweight” rating in a research note on Friday, November 15th. Finally, Morgan Stanley upped their price objective on shares of Coterra Energy from $27.00 to $29.00 and gave the company an “equal weight” rating in a research note on Thursday, November 14th. Two analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $32.47.

Coterra Energy Price Performance

CTRA stock opened at $26.72 on Monday. Coterra Energy Inc. has a 52-week low of $22.30 and a 52-week high of $28.90. 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 stock has a market cap of $19.68 billion, a price-to-earnings ratio of 16.10, a price-to-earnings-growth ratio of 1.74 and a beta of 0.22. The business has a fifty day moving average of $24.71 and a two-hundred day moving average of $25.37.

Coterra Energy (NYSE:CTRA) last issued 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). Coterra Energy had a return on equity of 9.38% and a net margin of 21.91%. The business had revenue of $1.36 billion for the quarter, compared to analyst estimates of $1.28 billion. During the same period in the previous year, the business posted $0.47 earnings per share. The firm’s revenue for the quarter was up .2% compared to the same quarter last year. As a group, research analysts anticipate that Coterra Energy Inc. will post 1.53 earnings per share for the current year.

Coterra Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, November 27th. Stockholders of record on Thursday, November 14th were issued a $0.21 dividend. The ex-dividend date was Thursday, November 14th. This represents a $0.84 annualized dividend and a dividend yield of 3.14%. Coterra Energy’s dividend payout ratio is currently 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.