Fisher Asset Management LLC Has $307,000 Position in Coterra Energy Inc. (NYSE:CTRA)

Fisher Asset Management LLC cut its position in shares of Coterra Energy Inc. (NYSE:CTRA) by 19.3% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 12,806 shares of the company’s stock after selling 3,054 shares during the period. Fisher Asset Management LLC’s holdings in Coterra Energy were worth $307,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the company. Daiwa Securities Group Inc. raised its stake in Coterra Energy by 10.9% in the 3rd quarter. Daiwa Securities Group Inc. now owns 90,377 shares of the company’s stock valued at $2,165,000 after acquiring an additional 8,875 shares during the period. Hartford Funds Management Co LLC bought a new position in shares of Coterra Energy in the third quarter valued at about $575,000. SevenBridge Financial Group LLC lifted its stake in shares of Coterra Energy by 19.0% during the 3rd quarter. SevenBridge Financial Group LLC now owns 14,853 shares of the company’s stock worth $377,000 after buying an additional 2,375 shares during the last quarter. WESPAC Advisors LLC boosted its holdings in shares of Coterra Energy by 5.7% during the 3rd quarter. WESPAC Advisors LLC now owns 17,292 shares of the company’s stock worth $414,000 after buying an additional 928 shares during the period. Finally, Cerity Partners LLC grew its stake in Coterra Energy by 32.6% in the 3rd quarter. Cerity Partners LLC now owns 341,634 shares of the company’s stock valued at $8,182,000 after buying an additional 83,998 shares during the last quarter. 87.92% of the stock is owned by institutional investors.

Coterra Energy Stock Performance

NYSE:CTRA opened at $26.72 on Monday. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.56 and a current ratio of 1.61. Coterra Energy Inc. has a fifty-two week low of $22.30 and a fifty-two week high of $28.90. The company has a 50 day simple moving average of $24.71 and a two-hundred day simple moving average of $25.37. The company has a market capitalization of $19.68 billion, a PE ratio of 16.10, a P/E/G ratio of 1.74 and a beta of 0.22.

Coterra Energy (NYSE:CTRA) last issued its quarterly earnings results on Thursday, October 31st. The company reported $0.32 earnings per share 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 analyst estimates of $1.28 billion. During the same quarter in the previous year, the business posted $0.47 earnings per share. The business’s revenue was up .2% on a year-over-year basis. Research analysts anticipate that Coterra Energy Inc. will post 1.53 earnings per share for the current year.

Coterra Energy Dividend Announcement

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 dividend on an annualized basis and a yield of 3.14%. The ex-dividend date was Thursday, November 14th. Coterra Energy’s dividend payout ratio (DPR) is currently 50.60%.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the company. Morgan Stanley boosted 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. Roth Mkm upgraded shares of Coterra Energy from a “neutral” rating to a “buy” rating and upped their price target for the company from $25.00 to $29.00 in a research note on Tuesday, August 27th. Stephens lifted their price objective on shares of Coterra Energy from $28.00 to $29.00 and gave the stock an “overweight” rating in a research note on Friday, November 1st. Citigroup increased their target price on shares of Coterra Energy from $28.00 to $32.00 and gave the stock a “buy” rating in a research report on Tuesday, November 26th. Finally, Roth Capital upgraded shares of Coterra Energy from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, August 27th. Two 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. Based on data from MarketBeat.com, Coterra Energy presently has an average rating of “Moderate Buy” and an average target price of $32.47.

Insiders Place Their Bets

In related news, SVP Adam M. Vela sold 16,435 shares of the firm’s stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $26.76, for a total value of $439,800.60. Following the transaction, the senior vice president now owns 72,409 shares of the company’s stock, valued at approximately $1,937,664.84. This trade represents a 18.50 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 1.70% of the company’s stock.

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.