Coterra Energy Inc. (NYSE:CTRA) Shares Sold by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company lowered its position in shares of Coterra Energy Inc. (NYSE:CTRA) by 3.7% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 698,686 shares of the company’s stock after selling 26,658 shares during the period. The Manufacturers Life Insurance Company owned 0.09% of Coterra Energy worth $16,734,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Charles Schwab Investment Management Inc. boosted its position in shares of Coterra Energy by 1.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 22,156,361 shares of the company’s stock worth $530,645,000 after acquiring an additional 305,626 shares in the last quarter. Victory Capital Management Inc. raised its position in shares of Coterra Energy by 1.2% during the 3rd quarter. Victory Capital Management Inc. now owns 16,963,084 shares of the company’s stock worth $406,266,000 after acquiring an additional 195,966 shares in the last quarter. King Luther Capital Management Corp lifted its stake in Coterra Energy by 4.4% during the second quarter. King Luther Capital Management Corp now owns 6,783,690 shares of the company’s stock worth $180,921,000 after purchasing an additional 285,774 shares during the last quarter. Disciplined Growth Investors Inc. MN boosted its holdings in Coterra Energy by 1.0% in the second quarter. Disciplined Growth Investors Inc. MN now owns 5,063,920 shares of the company’s stock valued at $135,055,000 after purchasing an additional 51,249 shares in the last quarter. Finally, American Century Companies Inc. increased its stake in Coterra Energy by 29.1% in the second quarter. American Century Companies Inc. now owns 4,498,227 shares of the company’s stock valued at $119,968,000 after purchasing an additional 1,013,107 shares during the last quarter. Institutional investors and hedge funds own 87.92% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently weighed in on CTRA. Roth Capital upgraded shares of Coterra Energy from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, August 27th. Citigroup boosted their price target on shares of Coterra Energy from $28.00 to $32.00 and gave the company a “buy” rating in a research report on Tuesday, November 26th. Roth Mkm upgraded shares of Coterra Energy from a “neutral” rating to a “buy” rating and upped their price objective for the company from $25.00 to $29.00 in a research note on Tuesday, August 27th. Morgan Stanley lifted their target price on Coterra Energy from $27.00 to $29.00 and gave the stock an “equal weight” rating in a research report on Thursday, November 14th. Finally, Scotiabank decreased their target price on Coterra Energy from $35.00 to $32.00 and set a “sector outperform” rating for the company in a research report on Thursday, October 10th. Two research 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. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $32.47.

Coterra Energy Stock Up 0.1 %

Shares of NYSE:CTRA opened at $26.72 on Monday. The company has a market cap of $19.68 billion, a price-to-earnings ratio of 16.10, a PEG ratio of 1.74 and a beta of 0.22. Coterra Energy Inc. has a fifty-two week low of $22.30 and a fifty-two week high of $28.90. The firm’s 50-day simple moving average is $24.71 and its 200-day simple moving average is $25.37. 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 (NYSE:CTRA) last announced 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). The business had revenue of $1.36 billion during the quarter, compared to analysts’ expectations of $1.28 billion. Coterra Energy had a net margin of 21.91% and a return on equity of 9.38%. Coterra Energy’s revenue for the quarter was up .2% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.47 EPS. As a group, equities research analysts predict that Coterra Energy Inc. will post 1.53 earnings per share for the current year.

Coterra Energy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, November 27th. Shareholders of record on Thursday, November 14th were given a $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 3.14%. The ex-dividend date was Thursday, November 14th. Coterra Energy’s payout ratio is 50.60%.

Insider Buying and Selling at Coterra Energy

In other Coterra Energy 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 value 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 trade represents a 18.50 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 1.70% of the stock is owned by corporate insiders.

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.