Merit Financial Group LLC Purchases New Position in Coterra Energy Inc. (NYSE:CTRA)

Merit Financial Group LLC acquired a new position in shares of Coterra Energy Inc. (NYSE:CTRA) during the 4th quarter, according to its most recent 13F filing with the SEC. The firm acquired 10,055 shares of the company’s stock, valued at approximately $257,000.

A number of other institutional investors and hedge funds have also bought and sold shares of CTRA. Charles Schwab Investment Management Inc. raised its holdings in shares of Coterra Energy by 1.4% in the third quarter. Charles Schwab Investment Management Inc. now owns 22,156,361 shares of the company’s stock valued at $530,645,000 after acquiring an additional 305,626 shares in the last quarter. Czech National Bank increased its position in Coterra Energy by 6.1% during the 4th quarter. Czech National Bank now owns 159,713 shares of the company’s stock valued at $4,079,000 after purchasing an additional 9,115 shares during the period. Hartford Funds Management Co LLC bought a new stake in shares of Coterra Energy in the 3rd quarter valued at about $575,000. Barclays PLC lifted its position in shares of Coterra Energy by 3.1% in the 3rd quarter. Barclays PLC now owns 2,147,263 shares of the company’s stock worth $51,425,000 after purchasing an additional 64,753 shares during the period. Finally, Range Financial Group LLC bought a new position in shares of Coterra Energy during the fourth quarter valued at approximately $1,267,000. 87.92% of the stock is owned by institutional investors.

Coterra Energy Stock Down 0.6 %

Shares of CTRA stock opened at $29.05 on Friday. Coterra Energy Inc. has a fifty-two week low of $22.30 and a fifty-two week high of $29.95. The firm has a market capitalization of $21.40 billion, a PE ratio of 17.50, a P/E/G ratio of 0.65 and a beta of 0.27. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.56 and a current ratio of 1.61. The stock’s 50-day simple moving average is $26.43 and its 200-day simple moving average is $25.11.

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 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 business had revenue of $1.36 billion during the quarter, compared to analyst estimates of $1.28 billion. During the same quarter last year, the company posted $0.47 EPS. Coterra Energy’s quarterly revenue was up .2% compared to the same quarter last year. Equities analysts expect that Coterra Energy Inc. will post 1.54 earnings per share for the current year.

Coterra Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, November 27th. Investors of record on Thursday, November 14th were given a dividend of $0.21 per share. The ex-dividend date was Thursday, November 14th. This represents a $0.84 dividend on an annualized basis and a yield of 2.89%. Coterra Energy’s dividend payout ratio is presently 50.60%.

Insider Buying and Selling at Coterra Energy

In related news, SVP Adam M. Vela sold 16,435 shares of the business’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 completion of the transaction, the senior vice president now directly owns 72,409 shares in the company, valued at $1,937,664.84. The trade was a 18.50 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP Kevin William Smith sold 29,643 shares of the stock in a transaction on Tuesday, December 3rd. The stock was sold at an average price of $26.16, for a total transaction of $775,460.88. Following the sale, the senior vice president now directly owns 77,075 shares in the company, valued at $2,016,282. This trade represents 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 corporate insiders.

Wall Street Analysts Forecast Growth

CTRA has been the subject of a number of analyst reports. UBS Group upped their target price on Coterra Energy from $31.00 to $35.00 and gave the stock a “buy” rating in a report on Friday, November 15th. Barclays upped their price objective on Coterra Energy from $31.00 to $33.00 and gave the stock an “overweight” rating in a research note on Thursday, November 14th. Raymond James lifted their target price on Coterra Energy from $35.00 to $41.00 and gave the company an “outperform” rating in a research note on Thursday. Wells Fargo & Company increased their price target on shares of Coterra Energy from $32.00 to $35.00 and gave the company an “overweight” rating in a research report on Friday, November 15th. Finally, Piper Sandler cut their price objective on shares of Coterra Energy from $35.00 to $33.00 and set an “overweight” rating on the stock in a research report on Tuesday, December 17th. Two research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $33.18.

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.