Coterra Energy Inc. (NYSE:CTRA) Shares Sold by State Street Corp

State Street Corp lowered its stake in shares of Coterra Energy Inc. (NYSE:CTRA) by 3.5% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 49,408,046 shares of the company’s stock after selling 1,780,544 shares during the period. State Street Corp owned about 0.07% of Coterra Energy worth $1,183,323,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Charles Schwab Investment Management Inc. lifted its position in shares of Coterra Energy by 1.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 22,156,361 shares of the company’s stock valued at $530,645,000 after acquiring an additional 305,626 shares during the period. Victory Capital Management Inc. raised its holdings in Coterra Energy by 1.2% during the third quarter. Victory Capital Management Inc. now owns 16,963,084 shares of the company’s stock worth $406,266,000 after purchasing an additional 195,966 shares during the last quarter. King Luther Capital Management Corp grew its holdings in Coterra Energy by 4.4% in the second quarter. King Luther Capital Management Corp now owns 6,783,690 shares of the company’s stock valued at $180,921,000 after purchasing an additional 285,774 shares during the last quarter. Disciplined Growth Investors Inc. MN increased its position in shares of Coterra Energy by 1.0% in the second quarter. Disciplined Growth Investors Inc. MN now owns 5,063,920 shares of the company’s stock valued at $135,055,000 after buying an additional 51,249 shares in the last quarter. Finally, Holocene Advisors LP raised its stake in shares of Coterra Energy by 187.2% during the 3rd quarter. Holocene Advisors LP now owns 4,533,269 shares of the company’s stock worth $108,572,000 after buying an additional 2,954,675 shares during the last quarter. 87.92% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

CTRA has been the topic of a number of research reports. Scotiabank lowered their price objective on shares of Coterra Energy from $35.00 to $32.00 and set a “sector outperform” rating on the stock in a research note on Thursday, October 10th. Wells Fargo & Company 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 Friday, November 15th. Morgan Stanley lifted their price objective on Coterra Energy from $27.00 to $29.00 and gave the stock an “equal weight” rating in a research report on Thursday, November 14th. Barclays increased their target price on Coterra Energy from $31.00 to $33.00 and gave the company an “overweight” rating in a report on Thursday, November 14th. Finally, Roth Capital raised Coterra Energy from a “hold” rating to a “strong-buy” rating in a report on Tuesday, August 27th. Two research 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 stock. According to data from MarketBeat.com, Coterra Energy presently has an average rating of “Moderate Buy” and an average price target of $32.47.

Insider Transactions at Coterra Energy

In other Coterra Energy news, SVP Adam M. Vela sold 16,435 shares of the stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of $26.76, for a total value of $439,800.60. Following the completion of the sale, the senior vice president now owns 72,409 shares of the company’s stock, valued at $1,937,664.84. This trade represents a 18.50 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Kevin William Smith sold 29,643 shares of Coterra Energy stock in a transaction that occurred on Tuesday, December 3rd. The shares were sold at an average price of $26.16, for a total transaction of $775,460.88. Following the sale, 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 disclosure for this sale can be found here. Company insiders own 1.70% of the company’s stock.

Coterra Energy Trading Down 2.8 %

CTRA stock opened at $24.93 on Friday. Coterra Energy Inc. has a 52 week low of $22.30 and a 52 week high of $28.90. The company has a market cap of $18.36 billion, a price-to-earnings ratio of 15.02, a PEG ratio of 1.67 and a beta of 0.27. The company has a quick ratio of 1.56, a current ratio of 1.61 and a debt-to-equity ratio of 0.16. The business has a fifty day simple moving average of $24.92 and a 200-day simple moving average of $25.30.

Coterra Energy (NYSE:CTRA) last released its quarterly earnings data on Thursday, October 31st. The company reported $0.32 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 analysts’ expectations of $1.28 billion. During the same quarter last year, the business earned $0.47 earnings per share. The business’s revenue for the quarter was up .2% compared to the same quarter last year. On average, equities research analysts expect that Coterra Energy Inc. will post 1.53 EPS for the current year.

Coterra Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, November 27th. Shareholders of record on Thursday, November 14th were paid a dividend of $0.21 per share. The ex-dividend date was Thursday, November 14th. This represents a $0.84 annualized dividend and a yield of 3.37%. Coterra Energy’s dividend payout ratio is currently 50.60%.

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.