HighTower Advisors LLC Lowers Stock Holdings in Coterra Energy Inc. (NYSE:CTRA)

HighTower Advisors LLC reduced its position in Coterra Energy Inc. (NYSE:CTRA) by 35.0% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 95,579 shares of the company’s stock after selling 51,408 shares during the quarter. HighTower Advisors LLC’s holdings in Coterra Energy were worth $2,277,000 at the end of the most recent quarter.

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

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the company. Barclays raised their price objective on Coterra Energy from $31.00 to $33.00 and gave the company an “overweight” rating in a research note on Thursday, November 14th. Truist Financial lifted their price target on Coterra Energy from $31.00 to $33.00 and gave the stock a “buy” rating in a research note on Thursday, November 14th. UBS Group increased 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. Roth Capital raised shares of Coterra Energy from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, August 27th. Finally, Mizuho increased their price target on shares of Coterra Energy from $36.00 to $37.00 and gave the company an “outperform” rating in a research report on Friday, November 1st. Two investment 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 stock. Based on data from MarketBeat.com, Coterra Energy currently has an average rating of “Moderate Buy” and a consensus price target of $32.47.

Insiders Place Their Bets

In other Coterra Energy news, SVP Adam M. Vela sold 16,435 shares of the business’s stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $26.76, for a total value 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. The trade was a 18.50 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Kevin William Smith sold 29,643 shares of the firm’s stock in a transaction on Tuesday, December 3rd. The shares were sold at an average price of $26.16, for a total value of $775,460.88. Following the transaction, the senior vice president now owns 77,075 shares of the company’s stock, valued at $2,016,282. The trade was a 27.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 1.70% of the company’s stock.

Coterra Energy Stock Down 1.3 %

CTRA stock opened at $25.33 on Friday. Coterra Energy Inc. has a fifty-two week low of $22.30 and a fifty-two week high of $28.90. The company has a market capitalization of $18.65 billion, a price-to-earnings ratio of 15.26, a price-to-earnings-growth ratio of 1.64 and a beta of 0.27. The business’s 50 day moving average price is $25.00 and its two-hundred day moving average price is $25.24. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.56 and a current ratio of 1.61.

Coterra Energy (NYSE:CTRA) last posted 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 firm had revenue of $1.36 billion during the quarter, compared to the consensus estimate of $1.28 billion. During the same quarter last year, the company posted $0.47 EPS. Coterra Energy’s revenue for the quarter was up .2% compared to the same quarter last year. As a group, analysts forecast that Coterra Energy Inc. will post 1.53 earnings per share for the current fiscal year.

Coterra Energy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, November 27th. Investors 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 3.32%. The ex-dividend date of this dividend was Thursday, November 14th. Coterra Energy’s 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.