Royal London Asset Management Ltd. Boosts Holdings in Coterra Energy Inc. (NYSE:CTRA)

Royal London Asset Management Ltd. raised its holdings in Coterra Energy Inc. (NYSE:CTRA) by 17.2% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,077,405 shares of the company’s stock after purchasing an additional 304,240 shares during the period. Royal London Asset Management Ltd. owned 0.28% of Coterra Energy worth $49,754,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Pingora Partners LLC lifted its stake in Coterra Energy by 1.0% in the 3rd quarter. Pingora Partners LLC now owns 137,717 shares of the company’s stock valued at $3,298,000 after buying an additional 1,300 shares in the last quarter. Point72 DIFC Ltd lifted its position in shares of Coterra Energy by 102.5% in the third quarter. Point72 DIFC Ltd now owns 189,117 shares of the company’s stock valued at $4,529,000 after acquiring an additional 95,718 shares in the last quarter. Investment Management Corp of Ontario boosted its stake in shares of Coterra Energy by 47.1% during the third quarter. Investment Management Corp of Ontario now owns 24,659 shares of the company’s stock valued at $591,000 after acquiring an additional 7,900 shares during the last quarter. HITE Hedge Asset Management LLC increased its position in Coterra Energy by 406.3% during the 3rd quarter. HITE Hedge Asset Management LLC now owns 707,729 shares of the company’s stock worth $16,950,000 after purchasing an additional 567,934 shares in the last quarter. Finally, Holocene Advisors LP increased its position in 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 purchasing an additional 2,954,675 shares in the last quarter. 87.92% of the stock is currently owned by institutional investors and hedge funds.

Coterra Energy Trading Up 0.1 %

NYSE:CTRA opened at $25.67 on Friday. Coterra Energy Inc. has a 12 month low of $22.30 and a 12 month high of $28.90. The business’s 50-day moving average is $24.90 and its two-hundred day moving average is $25.34. 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 firm has a market capitalization of $18.91 billion, a PE ratio of 15.46, a price-to-earnings-growth ratio of 1.70 and a beta of 0.27.

Coterra Energy (NYSE:CTRA) last released its quarterly earnings results on Thursday, October 31st. The company reported $0.32 EPS for the quarter, missing the consensus estimate 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 period last year, the firm posted $0.47 earnings per share. The business’s revenue was up .2% on a year-over-year basis. Research analysts predict that Coterra Energy Inc. will post 1.53 earnings per share for the current fiscal year.

Coterra Energy Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, November 27th. Investors of record on Thursday, November 14th were paid a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a yield of 3.27%. The ex-dividend date was Thursday, November 14th. Coterra Energy’s dividend payout ratio (DPR) is 50.60%.

Analysts Set New Price Targets

CTRA has been the topic of several analyst reports. Mizuho raised their price target on shares of Coterra Energy from $36.00 to $37.00 and gave the stock an “outperform” rating in a research note on Friday, November 1st. Scotiabank cut their price target on Coterra Energy from $35.00 to $32.00 and set a “sector outperform” rating for the company in a report on Thursday, October 10th. Barclays raised their price objective on Coterra Energy from $31.00 to $33.00 and gave the stock an “overweight” rating in a report on Thursday, November 14th. Citigroup upped their target price on Coterra Energy from $28.00 to $32.00 and gave the company a “buy” rating in a research note on Tuesday, November 26th. Finally, Morgan Stanley raised their price target on Coterra Energy from $27.00 to $29.00 and gave the stock an “equal weight” rating in a research note 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 issued a strong buy rating to the stock. According to data from MarketBeat.com, Coterra Energy presently has an average rating of “Moderate Buy” and a consensus price target of $32.47.

Insiders Place Their Bets

In related news, SVP Adam M. Vela sold 16,435 shares of the company’s stock in a transaction 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 sale, the senior vice president now directly owns 72,409 shares of the company’s stock, valued at $1,937,664.84. This represents a 18.50 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Kevin William Smith sold 29,643 shares of the business’s stock in a transaction dated Tuesday, December 3rd. The stock was 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 position. The disclosure for this sale can be found here. 1.70% of the stock is currently owned by company 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.