Socorro Asset Management LP Buys 59,204 Shares of Coterra Energy Inc. (NYSE:CTRA)

Socorro Asset Management LP boosted its stake in shares of Coterra Energy Inc. (NYSE:CTRA) by 17.2% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 403,106 shares of the company’s stock after purchasing an additional 59,204 shares during the quarter. Coterra Energy accounts for approximately 3.7% of Socorro Asset Management LP’s holdings, making the stock its 5th biggest position. Socorro Asset Management LP owned 0.05% of Coterra Energy worth $9,654,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of the stock. B. Riley Wealth Advisors Inc. lifted its position in shares of Coterra Energy by 8.4% in the 1st quarter. B. Riley Wealth Advisors Inc. now owns 15,621 shares of the company’s stock worth $431,000 after acquiring an additional 1,215 shares during the period. Atria Investments Inc lifted its position in Coterra Energy by 12.0% in the first quarter. Atria Investments Inc now owns 112,562 shares of the company’s stock worth $3,138,000 after purchasing an additional 12,049 shares during the period. Cetera Investment Advisers lifted its position in Coterra Energy by 283.4% in the first quarter. Cetera Investment Advisers now owns 209,095 shares of the company’s stock worth $5,830,000 after purchasing an additional 154,551 shares during the period. Cetera Advisors LLC boosted its stake in Coterra Energy by 88.0% during the first quarter. Cetera Advisors LLC now owns 58,676 shares of the company’s stock worth $1,636,000 after buying an additional 27,463 shares in the last quarter. Finally, EverSource Wealth Advisors LLC increased its holdings in Coterra Energy by 31.0% in the 1st quarter. EverSource Wealth Advisors LLC now owns 2,351 shares of the company’s stock valued at $64,000 after buying an additional 557 shares during the period. 87.92% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, SVP Adam M. Vela sold 16,435 shares of the firm’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 transaction, the senior vice president now directly owns 72,409 shares in the company, 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 Securities & Exchange Commission, which is available at this link. Company insiders own 1.70% of the company’s stock.

Coterra Energy Trading Up 0.1 %

Shares of CTRA opened at $26.72 on Friday. The stock’s fifty day simple moving average is $24.71 and its 200-day simple moving average is $25.38. The firm has a market capitalization of $19.68 billion, a PE ratio of 16.10, a price-to-earnings-growth ratio of 1.74 and a beta of 0.22. Coterra Energy Inc. has a 12-month low of $22.30 and a 12-month high of $28.90. The company has a quick ratio of 1.56, a current ratio of 1.61 and a debt-to-equity ratio of 0.16.

Coterra Energy (NYSE:CTRA) last released its 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 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 in the previous year, the company posted $0.47 earnings per share. The business’s revenue for the quarter was up .2% on a year-over-year basis. As a group, research analysts predict that Coterra Energy Inc. will post 1.53 earnings per share for the current year.

Coterra Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, November 27th. Shareholders 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 dividend on an annualized basis and a yield of 3.14%. Coterra Energy’s payout ratio is presently 50.60%.

Analysts Set New Price Targets

CTRA has been the topic of several recent research reports. Wells Fargo & Company lifted their target price 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. Piper Sandler upped their price objective on Coterra Energy from $32.00 to $35.00 and gave the company an “overweight” rating in a research note on Thursday, November 14th. Truist Financial raised their target price on Coterra Energy from $31.00 to $33.00 and gave the stock a “buy” rating in a research report on Thursday, November 14th. Mizuho upped their price target on Coterra Energy from $36.00 to $37.00 and gave the company an “outperform” rating in a research report on Friday, November 1st. Finally, Barclays lifted their price objective on Coterra Energy from $31.00 to $33.00 and gave the company an “overweight” rating in a report on Thursday, November 14th. Two 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. According to MarketBeat, Coterra Energy currently has a consensus rating of “Moderate Buy” and an average price target of $32.47.

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.