Merit Financial Group LLC Acquires Shares of 10,055 Coterra Energy Inc. (NYSE:CTRA)

Merit Financial Group LLC bought a new position in shares of Coterra Energy Inc. (NYSE:CTRA) in the 4th quarter, HoldingsChannel reports. The institutional investor bought 10,055 shares of the company’s stock, valued at approximately $257,000.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Hennion & Walsh Asset Management Inc. raised its position in Coterra Energy by 9.4% during the fourth quarter. Hennion & Walsh Asset Management Inc. now owns 61,241 shares of the company’s stock worth $1,564,000 after acquiring an additional 5,273 shares during the period. Redhawk Wealth Advisors Inc. increased its stake in shares of Coterra Energy by 10.3% during the fourth quarter. Redhawk Wealth Advisors Inc. now owns 24,136 shares of the company’s stock worth $616,000 after purchasing an additional 2,256 shares in the last quarter. Richard P Slaughter Associates Inc raised its position in shares of Coterra Energy by 5.0% during the 4th quarter. Richard P Slaughter Associates Inc now owns 67,073 shares of the company’s stock worth $1,713,000 after purchasing an additional 3,216 shares during the last quarter. Park Avenue Securities LLC lifted its stake in Coterra Energy by 94.5% in the 4th quarter. Park Avenue Securities LLC now owns 50,863 shares of the company’s stock valued at $1,299,000 after buying an additional 24,710 shares in the last quarter. Finally, Accurate Wealth Management LLC boosted its holdings in Coterra Energy by 14.6% in the 4th quarter. Accurate Wealth Management LLC now owns 39,395 shares of the company’s stock worth $1,094,000 after buying an additional 5,011 shares during the last quarter. Hedge funds and other institutional investors own 87.92% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the company. Truist Financial raised their target price on Coterra Energy from $33.00 to $37.00 and gave the company a “buy” rating in a research report on Monday, January 13th. UBS Group lifted their target price on shares of Coterra Energy from $31.00 to $35.00 and gave the stock a “buy” rating in a research note on Friday, November 15th. Barclays upped their target price on shares of Coterra Energy from $31.00 to $33.00 and gave the stock an “overweight” rating in a report on Thursday, November 14th. Piper Sandler decreased their price target on shares of Coterra Energy from $35.00 to $33.00 and set an “overweight” rating on the stock in a research note on Tuesday, December 17th. Finally, Stephens upped their price objective on shares of Coterra Energy from $28.00 to $29.00 and gave the company an “overweight” rating in a research note on Friday, November 1st. 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 MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $33.18.

Coterra Energy Trading Down 0.6 %

Shares of Coterra Energy stock opened at $29.05 on Friday. The stock has a 50 day moving average of $26.43 and a 200 day moving average of $25.11. 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 has a market capitalization of $21.40 billion, a price-to-earnings ratio of 17.50, a PEG ratio of 0.65 and a beta of 0.27. Coterra Energy Inc. has a fifty-two week low of $22.30 and a fifty-two week high of $29.95.

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 the consensus estimate of $0.35 by ($0.03). The company 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%. The firm’s quarterly revenue was up .2% on a year-over-year basis. During the same quarter last year, the firm posted $0.47 earnings per share. As a group, research analysts predict that Coterra Energy Inc. will post 1.54 earnings per share for the current year.

Coterra Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, November 27th. Investors of record on Thursday, November 14th were given a dividend of $0.21 per share. The ex-dividend date of this dividend was Thursday, November 14th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 2.89%. Coterra Energy’s payout ratio is currently 50.60%.

Insider Activity at Coterra Energy

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

Coterra Energy 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.