Coterra Energy Inc. (NYSE:CTRA) Shares Sold by Mutual of America Capital Management LLC

Mutual of America Capital Management LLC lowered its stake in Coterra Energy Inc. (NYSE:CTRA) by 3.0% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 91,022 shares of the company’s stock after selling 2,832 shares during the period. Mutual of America Capital Management LLC’s holdings in Coterra Energy were worth $2,180,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Fortitude Family Office LLC lifted its holdings in Coterra Energy by 154.9% in the second quarter. Fortitude Family Office LLC now owns 933 shares of the company’s stock valued at $25,000 after acquiring an additional 567 shares during the period. Larson Financial Group LLC grew its position in Coterra Energy by 98.0% in the second quarter. Larson Financial Group LLC now owns 1,081 shares of the company’s stock worth $29,000 after acquiring an additional 535 shares during the period. EverSource Wealth Advisors LLC grew its holdings in shares of Coterra Energy by 31.0% during the 1st quarter. EverSource Wealth Advisors LLC now owns 2,351 shares of the company’s stock worth $64,000 after purchasing an additional 557 shares during the period. Values First Advisors Inc. purchased a new position in Coterra Energy during the third quarter worth about $57,000. Finally, Family Firm Inc. acquired a new stake in Coterra Energy in the 2nd quarter valued at approximately $68,000. Institutional investors and hedge funds own 87.92% of the company’s stock.

Insider Buying and Selling at Coterra Energy

In related news, SVP Adam M. Vela sold 16,435 shares of the firm’s stock in a transaction that occurred 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 transaction, the senior vice president now directly 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 transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 1.70% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of brokerages recently commented on CTRA. Morgan Stanley raised their target price on Coterra Energy from $27.00 to $29.00 and gave the company an “equal weight” rating in a report on Thursday, November 14th. Truist Financial upped their target price on shares of Coterra Energy from $31.00 to $33.00 and gave the stock a “buy” rating in a research note on Thursday, November 14th. Barclays raised their price target on shares of Coterra Energy from $31.00 to $33.00 and gave the company an “overweight” rating in a research report on Thursday, November 14th. Stephens upped their price objective on Coterra Energy from $28.00 to $29.00 and gave the stock an “overweight” rating in a research report on Friday, November 1st. Finally, JPMorgan Chase & Co. reduced their target price on shares of Coterra Energy from $31.00 to $26.00 and set an “overweight” rating on the stock in a report on Thursday, September 12th. Two investment analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Coterra Energy currently has a consensus rating of “Moderate Buy” and an average target price of $32.41.

Coterra Energy Stock Performance

NYSE:CTRA opened at $27.63 on Monday. The firm has a market cap of $20.35 billion, a price-to-earnings ratio of 16.64, a price-to-earnings-growth ratio of 1.78 and a beta of 0.22. 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 Inc. has a 1-year low of $22.30 and a 1-year high of $28.90. The firm’s fifty day moving average price is $24.36 and its 200 day moving average price is $25.43.

Coterra Energy (NYSE:CTRA) last posted its quarterly 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 return on equity of 9.38% and a net margin of 21.91%. The firm had revenue of $1.36 billion for the quarter, compared to analysts’ expectations of $1.28 billion. During the same period in the prior year, the company earned $0.47 earnings per share. The company’s revenue for the quarter was up .2% on a year-over-year basis. On average, sell-side analysts expect that Coterra Energy Inc. will post 1.53 EPS for the current year.

Coterra Energy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 27th. Shareholders of record on Thursday, November 14th will be given a $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 3.04%. The ex-dividend date is Thursday, November 14th. Coterra Energy’s payout ratio is 50.60%.

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.