Townsquare Capital LLC Increases Position in Coterra Energy Inc. (NYSE:CTRA)

Townsquare Capital LLC boosted its holdings in shares of Coterra Energy Inc. (NYSE:CTRA) by 8.0% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 57,246 shares of the company’s stock after purchasing an additional 4,239 shares during the quarter. Townsquare Capital LLC’s holdings in Coterra Energy were worth $1,371,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the business. Charles Schwab Investment Management Inc. lifted 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 valued at $530,645,000 after buying an additional 305,626 shares in the last quarter. Hartford Funds Management Co LLC purchased a new position in Coterra Energy during the third quarter valued at $575,000. Raymond James & Associates grew its position in shares of Coterra Energy by 5.0% in the second 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 during the period. MQS Management LLC purchased a new position in Coterra Energy in the 3rd quarter valued at about $776,000. Finally, Disciplined Growth Investors Inc. MN boosted its holdings in Coterra Energy by 1.0% in the 2nd quarter. Disciplined Growth Investors Inc. MN now owns 5,063,920 shares of the company’s stock worth $135,055,000 after buying an additional 51,249 shares during the last quarter. 87.92% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Coterra Energy

In other news, SVP Adam M. Vela sold 16,435 shares of the firm’s stock in a transaction 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 in the company, valued at $1,937,664.84. This trade represents a 18.50 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 1.70% of the company’s stock.

Coterra Energy Stock Up 0.1 %

CTRA stock opened at $26.72 on Monday. The firm has a market cap of $19.68 billion, a PE ratio of 16.10, a PEG ratio of 1.74 and a beta of 0.22. Coterra Energy Inc. has a one year low of $22.30 and a one year high of $28.90. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.56 and a current ratio of 1.61. The firm’s 50 day moving average price is $24.71 and its 200-day moving average price is $25.37.

Coterra Energy (NYSE:CTRA) last announced its quarterly earnings results on Thursday, October 31st. The company reported $0.32 EPS for the quarter, missing the consensus estimate of $0.35 by ($0.03). The business had revenue of $1.36 billion during the quarter, compared to analyst estimates of $1.28 billion. Coterra Energy had a net margin of 21.91% and a return on equity of 9.38%. The business’s revenue for the quarter was up .2% on a year-over-year basis. During the same period last year, the company earned $0.47 EPS. On average, equities research analysts anticipate that Coterra Energy Inc. will post 1.53 EPS for the current year.

Coterra Energy Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, November 27th. Shareholders 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 3.14%. The ex-dividend date was Thursday, November 14th. Coterra Energy’s dividend payout ratio (DPR) is presently 50.60%.

Wall Street Analyst Weigh In

A number of brokerages have commented on CTRA. JPMorgan Chase & Co. reduced their target price on Coterra Energy from $31.00 to $26.00 and set an “overweight” rating for the company in a report on Thursday, September 12th. Citigroup raised their price objective on Coterra Energy from $28.00 to $32.00 and gave the company a “buy” rating in a report on Tuesday, November 26th. Barclays lifted their target price on shares of Coterra Energy from $31.00 to $33.00 and gave the stock an “overweight” rating in a research note on Thursday, November 14th. Piper Sandler 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 Thursday, November 14th. Finally, Mizuho upped their price objective on shares of Coterra Energy from $36.00 to $37.00 and gave the company an “outperform” rating in a research note on Friday, November 1st. Two analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $32.47.

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.