Coterra Energy Inc. (NYSE:CTRA) Shares Sold by Eventide Asset Management LLC

Eventide Asset Management LLC cut its position in Coterra Energy Inc. (NYSE:CTRA) by 27.4% in the third quarter, HoldingsChannel reports. The institutional investor owned 303,823 shares of the company’s stock after selling 114,862 shares during the period. Eventide Asset Management LLC’s holdings in Coterra Energy were worth $7,277,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of CTRA. Fortitude Family Office LLC increased its stake in Coterra Energy by 154.9% during the 2nd quarter. Fortitude Family Office LLC now owns 933 shares of the company’s stock worth $25,000 after buying an additional 567 shares during the period. Larson Financial Group LLC grew its stake in shares of Coterra Energy by 98.0% in the second quarter. Larson Financial Group LLC now owns 1,081 shares of the company’s stock worth $29,000 after acquiring an additional 535 shares in the last quarter. Values First Advisors Inc. purchased a new stake in shares of Coterra Energy during the third quarter worth $57,000. Tobam acquired a new stake in shares of Coterra Energy in the third quarter valued at $63,000. Finally, EverSource Wealth Advisors LLC boosted its holdings 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 purchasing an additional 557 shares during the period. Hedge funds and other institutional investors own 87.92% of the company’s stock.

Coterra Energy Stock Up 0.1 %

Shares of NYSE CTRA opened at $26.72 on Friday. The business has a 50-day moving average price of $24.71 and a 200 day moving average price of $25.40. The stock has a market cap of $19.68 billion, a PE ratio of 16.10, a price-to-earnings-growth ratio of 1.73 and a beta of 0.22. The company has a quick ratio of 1.56, a current ratio of 1.61 and a debt-to-equity ratio of 0.16. Coterra Energy Inc. has a 52-week low of $22.30 and a 52-week high of $28.90.

Coterra Energy (NYSE:CTRA) last posted its quarterly earnings data on Thursday, October 31st. The company reported $0.32 earnings per share for the quarter, missing the consensus estimate of $0.35 by ($0.03). The firm 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%. Coterra Energy’s revenue was up .2% compared to the same quarter last year. During the same period in the previous year, the company posted $0.47 earnings per share. Equities research analysts forecast that Coterra Energy Inc. will post 1.53 earnings per share for the current year.

Coterra Energy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, November 27th. Shareholders of record on Thursday, November 14th were given 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 payout ratio is currently 50.60%.

Insider Buying and Selling at Coterra Energy

In other Coterra Energy news, SVP Adam M. Vela sold 16,435 shares of Coterra Energy 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 transaction, the senior vice president now directly owns 72,409 shares in the company, 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 this hyperlink. 1.70% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several equities research analysts have weighed in on the company. Stephens upped their price target on Coterra Energy from $28.00 to $29.00 and gave the stock an “overweight” rating in a report on Friday, November 1st. UBS Group upped 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. 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 research note on Thursday, September 12th. Roth Capital raised shares of Coterra Energy from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, August 27th. Finally, Morgan Stanley raised their price objective on shares of Coterra Energy from $27.00 to $29.00 and gave the company an “equal weight” rating in a report on Thursday, November 14th. Two research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Coterra Energy 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.