Stansberry Asset Management LLC Sells 101,670 Shares of Coterra Energy Inc. (NYSE:CTRA)

Stansberry Asset Management LLC reduced its stake in Coterra Energy Inc. (NYSE:CTRA) by 43.0% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 134,511 shares of the company’s stock after selling 101,670 shares during the period. Stansberry Asset Management LLC’s holdings in Coterra Energy were worth $3,222,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently modified their holdings of CTRA. Larson Financial Group LLC grew its stake 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 valued at $29,000 after purchasing an additional 535 shares during the period. Values First Advisors Inc. acquired a new position in shares of Coterra Energy in the 3rd quarter worth approximately $57,000. Tobam acquired a new position in shares of Coterra Energy in the 3rd quarter worth approximately $63,000. EverSource Wealth Advisors LLC boosted its holdings in shares of Coterra Energy by 31.0% in the 1st quarter. EverSource Wealth Advisors LLC now owns 2,351 shares of the company’s stock worth $64,000 after acquiring an additional 557 shares in the last quarter. Finally, Capital Performance Advisors LLP acquired a new position in Coterra Energy during the 3rd quarter worth $67,000. 87.92% of the stock is currently owned by institutional investors.

Insider Activity

In other news, SVP Kevin William Smith sold 29,643 shares of the business’s stock in a transaction dated Tuesday, December 3rd. The shares were sold at an average price of $26.16, for a total transaction of $775,460.88. Following the completion of the sale, 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 ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP Adam M. Vela sold 16,435 shares of the business’s 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 of the company’s stock, valued at approximately $1,937,664.84. The trade was a 18.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 1.70% of the company’s stock.

Coterra Energy Stock Performance

Shares of NYSE:CTRA opened at $25.63 on Thursday. The company’s 50 day simple moving average is $24.85 and its 200 day simple moving average is $25.34. The stock has a market capitalization of $18.88 billion, a price-to-earnings ratio of 15.44, a price-to-earnings-growth ratio of 1.70 and a beta of 0.27. Coterra Energy Inc. has a 1 year low of $22.30 and a 1 year high of $28.90. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.61 and a quick ratio of 1.56.

Coterra Energy (NYSE:CTRA) last released its earnings results 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). Coterra Energy had a net margin of 21.91% and a return on equity of 9.38%. The firm had revenue of $1.36 billion during the quarter, compared to analyst estimates of $1.28 billion. During the same quarter in the previous year, the firm earned $0.47 EPS. Coterra Energy’s quarterly revenue was up .2% on a year-over-year basis. As a group, research analysts predict that Coterra Energy Inc. will post 1.53 EPS for the current fiscal year.

Coterra Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, November 27th. Stockholders of record on Thursday, November 14th were issued a dividend of $0.21 per share. The ex-dividend date was Thursday, November 14th. This represents a $0.84 annualized dividend and a dividend yield of 3.28%. Coterra Energy’s dividend payout ratio is currently 50.60%.

Analyst Upgrades and Downgrades

CTRA has been the topic of several research reports. Truist Financial upped their price objective on Coterra Energy from $31.00 to $33.00 and gave the stock a “buy” rating in a report on Thursday, November 14th. Morgan Stanley increased their price target on Coterra Energy from $27.00 to $29.00 and gave the company an “equal weight” rating in a research note on Thursday, November 14th. Barclays increased their price target on Coterra Energy from $31.00 to $33.00 and gave the company an “overweight” rating in a research note on Thursday, November 14th. Roth Mkm raised Coterra Energy from a “neutral” rating to a “buy” rating and increased their price target for the company from $25.00 to $29.00 in a research note on Tuesday, August 27th. Finally, Piper Sandler upped their price objective 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. Two equities research 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’s stock. Based on data from MarketBeat.com, the stock presently has a consensus 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.