Fulton Bank N.A. Boosts Stake in Coterra Energy Inc. (NYSE:CTRA)

Fulton Bank N.A. grew its stake in Coterra Energy Inc. (NYSE:CTRA) by 4.0% during the fourth quarter, HoldingsChannel reports. The fund owned 25,398 shares of the company’s stock after acquiring an additional 984 shares during the quarter. Fulton Bank N.A.’s holdings in Coterra Energy were worth $649,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in the stock. Values First Advisors Inc. bought a new position in Coterra Energy in the third quarter worth about $57,000. Tobam bought a new position in shares of Coterra Energy during the 3rd quarter worth approximately $63,000. Capital Performance Advisors LLP purchased a new stake in Coterra Energy during the third quarter valued at approximately $67,000. Bruce G. Allen Investments LLC boosted its stake in Coterra Energy by 17.4% in the third quarter. Bruce G. Allen Investments LLC now owns 3,033 shares of the company’s stock valued at $73,000 after acquiring an additional 450 shares in the last quarter. Finally, EverSource Wealth Advisors LLC grew its holdings in Coterra Energy by 48.0% in the second quarter. EverSource Wealth Advisors LLC now owns 3,479 shares of the company’s stock worth $90,000 after purchasing an additional 1,128 shares during the last quarter. 87.92% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related news, SVP Kevin William Smith sold 29,643 shares of the company’s stock in a transaction dated Tuesday, December 3rd. The shares were sold at an average price of $26.16, for a total transaction of $775,460.88. Following the completion of the transaction, the senior vice president now owns 77,075 shares in the company, valued at $2,016,282. This represents a 27.78 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Adam M. Vela sold 16,435 shares of the business’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 value of $439,800.60. Following the sale, the senior vice president now 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 disclosure for this sale can be found here. 1.70% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

CTRA has been the subject of a number of recent analyst reports. Piper Sandler lowered their price objective on Coterra Energy from $35.00 to $33.00 and set an “overweight” rating for the company in a research report on Tuesday, December 17th. Mizuho boosted their price target on Coterra Energy from $37.00 to $40.00 and gave the stock an “outperform” rating in a research note on Monday, December 16th. UBS Group upped their price objective on shares of Coterra Energy from $31.00 to $35.00 and gave the company a “buy” rating in a report on Friday, November 15th. Morgan Stanley boosted their target price on shares of 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, JPMorgan Chase & Co. decreased their price target on shares of Coterra Energy from $31.00 to $26.00 and set an “overweight” rating for the company in a report on Thursday, September 12th. Two investment analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Coterra Energy presently has a consensus rating of “Moderate Buy” and an average price target of $32.53.

Coterra Energy Price Performance

NYSE:CTRA opened at $27.12 on Friday. 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 company has a 50 day moving average price of $25.36 and a 200-day moving average price of $24.94. Coterra Energy Inc. has a 1-year low of $22.30 and a 1-year high of $28.90. The firm has a market cap of $19.98 billion, a price-to-earnings ratio of 16.34, a price-to-earnings-growth ratio of 1.64 and a beta of 0.27.

Coterra Energy (NYSE:CTRA) last released 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 firm had revenue of $1.36 billion during the quarter, compared to analysts’ expectations of $1.28 billion. During the same period in the previous year, the firm posted $0.47 EPS. The firm’s quarterly revenue was up .2% on a year-over-year basis. Equities research analysts forecast that Coterra Energy Inc. will post 1.53 EPS for the current year.

Coterra Energy Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, November 27th. Investors of record on Thursday, November 14th were paid a $0.21 dividend. The ex-dividend date of this dividend was Thursday, November 14th. This represents a $0.84 dividend on an annualized basis and a yield of 3.10%. 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.