Range Financial Group LLC Acquires New Stake in Coterra Energy Inc. (NYSE:CTRA)

Range Financial Group LLC bought a new position in Coterra Energy Inc. (NYSE:CTRA) during the 4th quarter, Holdings Channel reports. The institutional investor bought 49,612 shares of the company’s stock, valued at approximately $1,267,000.

A number of other institutional investors have also recently modified their holdings of the stock. Larson Financial Group LLC raised its position in Coterra Energy by 98.0% in the 2nd quarter. Larson Financial Group LLC now owns 1,081 shares of the company’s stock worth $29,000 after buying an additional 535 shares during the last quarter. Values First Advisors Inc. bought a new stake in shares of Coterra Energy in the third quarter worth approximately $57,000. Tobam purchased a new position in shares of Coterra Energy during the third quarter valued at approximately $63,000. Capital Performance Advisors LLP bought a new position in Coterra Energy during the third quarter valued at approximately $67,000. Finally, Bruce G. Allen Investments LLC boosted its holdings in Coterra Energy by 17.4% in the third quarter. Bruce G. Allen Investments LLC now owns 3,033 shares of the company’s stock worth $73,000 after purchasing an additional 450 shares during the last quarter. 87.92% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Coterra Energy

In other Coterra Energy news, SVP Adam M. Vela sold 16,435 shares of the company’s stock in a transaction 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 completion of the sale, the senior vice president now directly owns 72,409 shares in the company, valued at approximately $1,937,664.84. This represents a 18.50 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Kevin William Smith sold 29,643 shares of Coterra Energy stock in a transaction dated Tuesday, December 3rd. The shares were sold at an average price of $26.16, for a total value of $775,460.88. Following the completion of the sale, the senior vice president now 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 disclosure for this sale can be found here. 1.70% of the stock is owned by company insiders.

Analyst Ratings Changes

CTRA has been the subject of a number of research reports. Piper Sandler decreased their target price on shares of Coterra Energy from $35.00 to $33.00 and set an “overweight” rating for the company in a research note on Tuesday, December 17th. Morgan Stanley upped their price objective 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. Wells Fargo & Company boosted their price target on Coterra Energy from $32.00 to $35.00 and gave the company an “overweight” rating in a report on Friday, November 15th. Barclays lifted their price target on shares of Coterra Energy from $31.00 to $33.00 and gave the company an “overweight” rating in a report on Thursday, November 14th. Finally, UBS Group raised their price target on Coterra Energy from $31.00 to $35.00 and gave the company a “buy” rating in a report on Friday, November 15th. Two investment analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $32.53.

Coterra Energy Trading Up 0.3 %

NYSE:CTRA traded up $0.09 during midday trading on Tuesday, hitting $26.33. 3,791,034 shares of the company traded hands, compared to its average volume of 4,771,888. The company has a current ratio of 1.61, a quick ratio of 1.56 and a debt-to-equity ratio of 0.16. The firm’s fifty day moving average is $25.25 and its 200-day moving average is $24.92. The firm has a market capitalization of $19.40 billion, a P/E ratio of 15.86, a P/E/G ratio of 1.64 and a beta of 0.27. Coterra Energy Inc. has a 12-month low of $22.30 and a 12-month high of $28.90.

Coterra Energy (NYSE:CTRA) last issued its quarterly earnings results on Thursday, October 31st. The company reported $0.32 earnings per share (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 business had revenue of $1.36 billion for the quarter, compared to the consensus estimate of $1.28 billion. During the same period in the prior year, the business posted $0.47 earnings per share. Coterra Energy’s revenue was up .2% on a year-over-year basis. On average, sell-side analysts predict that Coterra Energy Inc. will post 1.53 EPS for the current year.

Coterra Energy Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, November 27th. Stockholders of record on Thursday, November 14th were paid a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a dividend yield of 3.19%. The ex-dividend date of this dividend was Thursday, November 14th. Coterra Energy’s dividend payout ratio is presently 50.60%.

Coterra Energy Company 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.