Brown Brothers Harriman & Co. Sells 102,235 Shares of Coterra Energy Inc. (NYSE:CTRA)

Brown Brothers Harriman & Co. decreased its position in Coterra Energy Inc. (NYSE:CTRA) by 20.5% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 395,582 shares of the company’s stock after selling 102,235 shares during the period. Brown Brothers Harriman & Co. owned 0.05% of Coterra Energy worth $9,474,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Fortitude Family Office LLC boosted its stake in Coterra Energy by 154.9% in the second quarter. Fortitude Family Office LLC now owns 933 shares of the company’s stock valued at $25,000 after acquiring an additional 567 shares during the last quarter. Larson Financial Group LLC boosted its position in shares of Coterra Energy by 98.0% in the 2nd quarter. Larson Financial Group LLC now owns 1,081 shares of the company’s stock worth $29,000 after purchasing an additional 535 shares during the last quarter. Values First Advisors Inc. acquired a new stake in shares of Coterra Energy during the third quarter worth $57,000. Tobam bought a new stake in Coterra Energy in the third quarter valued at about $63,000. Finally, EverSource Wealth Advisors LLC lifted its stake in Coterra Energy by 31.0% in the first quarter. EverSource Wealth Advisors LLC now owns 2,351 shares of the company’s stock valued at $64,000 after buying an additional 557 shares during the period. 87.92% of the stock is currently owned by institutional investors and hedge funds.

Coterra Energy Trading Up 1.2 %

Shares of Coterra Energy stock opened at $27.96 on Monday. 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 business has a fifty day simple moving average of $24.36 and a two-hundred day simple moving average of $25.41. Coterra Energy Inc. has a 1 year low of $22.30 and a 1 year high of $28.90. The company has a market capitalization of $20.60 billion, a price-to-earnings ratio of 16.64, a P/E/G ratio of 1.80 and a beta of 0.22.

Coterra Energy (NYSE:CTRA) last posted its earnings results 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 company had revenue of $1.36 billion for the quarter, compared to analyst estimates of $1.28 billion. During the same quarter in the prior year, the business posted $0.47 EPS. The business’s quarterly revenue was up .2% compared to the same quarter last year. Research analysts forecast that Coterra Energy Inc. will post 1.53 EPS for the current year.

Coterra Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 27th. Shareholders of record on Thursday, November 14th will be issued a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a yield of 3.00%. The ex-dividend date of this dividend is Thursday, November 14th. Coterra Energy’s dividend payout ratio is 50.60%.

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. Piper Sandler increased their price target on shares of Coterra Energy from $32.00 to $35.00 and gave the company an “overweight” rating in a research report on Thursday, November 14th. Barclays lifted their target price on Coterra Energy from $31.00 to $33.00 and gave the stock an “overweight” rating in a report on Thursday, November 14th. Morgan Stanley increased their price objective 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. Susquehanna boosted their price objective on shares of Coterra Energy from $30.00 to $33.00 and gave the company a “positive” rating in a research report on Thursday, November 14th. Finally, UBS Group increased their target price on Coterra Energy from $31.00 to $35.00 and gave the stock a “buy” rating in a report on Friday, November 15th. Two investment 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, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $32.41.

Insider Activity at Coterra Energy

In other Coterra Energy 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 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 position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 1.70% of the stock is currently owned by corporate 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.