Verity Asset Management Inc. Has $1.28 Million Holdings in Coterra Energy Inc. (NYSE:CTRA)

Verity Asset Management Inc. increased its holdings in Coterra Energy Inc. (NYSE:CTRA) by 1.5% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 53,273 shares of the company’s stock after buying an additional 778 shares during the period. Verity Asset Management Inc.’s holdings in Coterra Energy were worth $1,276,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in CTRA. Central Pacific Bank Trust Division acquired a new stake in shares of Coterra Energy in the first quarter valued at approximately $44,000. Empirical Finance LLC increased its stake in Coterra Energy by 1.8% in the first quarter. Empirical Finance LLC now owns 60,368 shares of the company’s stock valued at $1,683,000 after acquiring an additional 1,043 shares during the last quarter. Envestnet Portfolio Solutions Inc. increased its stake in Coterra Energy by 20.9% in the first quarter. Envestnet Portfolio Solutions Inc. now owns 30,928 shares of the company’s stock valued at $862,000 after acquiring an additional 5,353 shares during the last quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management increased its stake in Coterra Energy by 20.0% in the first quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 58,974 shares of the company’s stock valued at $1,644,000 after acquiring an additional 9,843 shares during the last quarter. Finally, Oppenheimer & Co. Inc. bought a new position in Coterra Energy in the first quarter valued at approximately $1,390,000. 87.92% of the stock is currently owned by institutional investors and hedge funds.

Coterra Energy Price Performance

CTRA stock opened at $24.41 on Friday. The firm has a market cap of $17.98 billion, a price-to-earnings ratio of 14.70, a PEG ratio of 1.42 and a beta of 0.22. The company has a quick ratio of 1.38, a current ratio of 1.61 and a debt-to-equity ratio of 0.16. Coterra Energy Inc. has a 12-month low of $22.30 and a 12-month high of $28.90. The company’s fifty day simple moving average is $23.76 and its 200 day simple moving average is $25.60.

Coterra Energy (NYSE:CTRA) last announced 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). Coterra Energy had a net margin of 21.91% and a return on equity of 9.38%. 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 company posted $0.47 EPS. Coterra Energy’s revenue for the quarter was up .2% on a year-over-year basis. On average, analysts expect that Coterra Energy Inc. will post 1.62 earnings per share for the current year.

Coterra Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 27th. Stockholders of record on Thursday, November 14th will be issued a dividend of $0.21 per share. The ex-dividend date of this dividend is Thursday, November 14th. This represents a $0.84 annualized dividend and a dividend yield of 3.44%. Coterra Energy’s dividend payout ratio is currently 50.60%.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on CTRA. Susquehanna decreased their price objective on shares of Coterra Energy from $33.00 to $30.00 and set a “positive” rating on the stock in a research note on Wednesday, September 4th. Morgan Stanley decreased their target price on shares of Coterra Energy from $29.00 to $27.00 and set an “equal weight” rating on the stock in a research note on Monday, September 16th. Truist Financial decreased their target price on shares of Coterra Energy from $34.00 to $31.00 and set a “buy” rating on the stock in a research note on Monday, September 30th. Piper Sandler reaffirmed an “overweight” rating and set a $32.00 target price (up previously from $31.00) on shares of Coterra Energy in a research note on Monday. Finally, JPMorgan Chase & Co. decreased their target price on shares of Coterra Energy from $31.00 to $26.00 and set an “overweight” rating on the stock in a research note on Thursday, September 12th. Two investment analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Coterra Energy presently has an average rating of “Moderate Buy” and an average target price of $31.29.

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.