Whalen Wealth Management Inc. Makes New Investment in Coterra Energy Inc. (NYSE:CTRA)

Whalen Wealth Management Inc. purchased a new position in Coterra Energy Inc. (NYSE:CTRA) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 18,735 shares of the company’s stock, valued at approximately $478,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Bartlett & CO. Wealth Management LLC lifted its stake in Coterra Energy by 254.9% in the fourth quarter. Bartlett & CO. Wealth Management LLC now owns 3,620 shares of the company’s stock valued at $92,000 after acquiring an additional 2,600 shares during the last quarter. Daymark Wealth Partners LLC lifted its stake in shares of Coterra Energy by 6.0% in the 4th quarter. Daymark Wealth Partners LLC now owns 52,525 shares of the company’s stock valued at $1,341,000 after purchasing an additional 2,963 shares during the last quarter. Viking Fund Management LLC boosted its holdings in Coterra Energy by 222.2% in the fourth quarter. Viking Fund Management LLC now owns 290,000 shares of the company’s stock worth $7,407,000 after purchasing an additional 200,000 shares in the last quarter. Nisa Investment Advisors LLC increased its position in Coterra Energy by 3.2% during the fourth quarter. Nisa Investment Advisors LLC now owns 251,776 shares of the company’s stock worth $6,430,000 after buying an additional 7,846 shares during the last quarter. Finally, MCF Advisors LLC lifted its position in shares of Coterra Energy by 230.5% in the fourth quarter. MCF Advisors LLC now owns 1,246 shares of the company’s stock worth $32,000 after buying an additional 869 shares during the last quarter. 87.92% of the stock is currently owned by hedge funds and other institutional investors.

Coterra Energy Stock Up 0.1 %

CTRA opened at $29.18 on Thursday. The company has a market capitalization of $21.49 billion, a P/E ratio of 17.58, a P/E/G ratio of 0.70 and a beta of 0.27. 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’s fifty day moving average price is $26.28 and its two-hundred day moving average price is $25.07. Coterra Energy Inc. has a fifty-two week low of $22.30 and a fifty-two week high of $29.95.

Coterra Energy (NYSE:CTRA) last issued its earnings results 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 business had revenue of $1.36 billion for the quarter, compared to analyst estimates of $1.28 billion. During the same quarter last year, the firm posted $0.47 earnings per share. Coterra Energy’s revenue was up .2% on a year-over-year basis. On average, analysts anticipate that Coterra Energy Inc. will post 1.54 EPS for the current year.

Coterra Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, November 27th. Stockholders of record on Thursday, November 14th were paid a $0.21 dividend. The ex-dividend date was Thursday, November 14th. This represents a $0.84 annualized dividend and a dividend yield of 2.88%. Coterra Energy’s dividend payout ratio is currently 50.60%.

Wall Street Analyst Weigh In

CTRA has been the subject of several analyst reports. Morgan Stanley boosted their target price on Coterra Energy from $27.00 to $29.00 and gave the stock an “equal weight” rating in a report on Thursday, November 14th. Citigroup boosted their price objective on shares of Coterra Energy from $28.00 to $32.00 and gave the stock a “buy” rating in a research note on Tuesday, November 26th. Susquehanna lifted their target price on shares of Coterra Energy from $30.00 to $33.00 and gave the stock a “positive” rating in a report on Thursday, November 14th. Scotiabank cut their target price on shares of Coterra Energy from $35.00 to $32.00 and set a “sector outperform” rating for the company in a research report on Thursday, October 10th. Finally, UBS Group lifted their price objective on Coterra Energy from $31.00 to $35.00 and gave the stock a “buy” rating in a research note 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 company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $32.76.

Insider Transactions at Coterra Energy

In other news, SVP Kevin William Smith sold 29,643 shares of the firm’s 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 completion of the sale, the senior vice president now owns 77,075 shares of the company’s stock, valued at approximately $2,016,282. This trade represents a 27.78 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, SVP Adam M. Vela sold 16,435 shares of Coterra Energy stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of $26.76, for a total transaction of $439,800.60. Following the completion of the transaction, 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 position. The disclosure for this sale can be found here. 1.70% of the stock is currently owned by insiders.

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.