Investment Management Corp of Ontario Buys 7,900 Shares of Coterra Energy Inc. (NYSE:CTRA)

Investment Management Corp of Ontario boosted its stake in Coterra Energy Inc. (NYSE:CTRA) by 47.1% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 24,659 shares of the company’s stock after buying an additional 7,900 shares during the quarter. Investment Management Corp of Ontario’s holdings in Coterra Energy were worth $591,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of the stock. Holocene Advisors LP boosted its stake in shares of Coterra Energy by 187.2% in the 3rd quarter. Holocene Advisors LP now owns 4,533,269 shares of the company’s stock valued at $108,572,000 after purchasing an additional 2,954,675 shares in the last quarter. Bank of Montreal Can boosted its position in Coterra Energy by 160.1% in the second quarter. Bank of Montreal Can now owns 2,898,876 shares of the company’s stock valued at $80,154,000 after buying an additional 1,784,192 shares in the last quarter. Marshall Wace LLP grew its stake in Coterra Energy by 5,325.5% during the second quarter. Marshall Wace LLP now owns 1,148,569 shares of the company’s stock worth $30,632,000 after buying an additional 1,127,399 shares during the last quarter. American Century Companies Inc. increased its holdings in shares of Coterra Energy by 29.1% during the second quarter. American Century Companies Inc. now owns 4,498,227 shares of the company’s stock worth $119,968,000 after buying an additional 1,013,107 shares in the last quarter. Finally, Erste Asset Management GmbH bought a new position in shares of Coterra Energy in the third quarter valued at approximately $21,555,000. 87.92% of the stock is currently owned by institutional investors.

Coterra Energy Stock Down 2.8 %

Shares of NYSE:CTRA opened at $24.93 on Friday. The company has a 50 day moving average price of $24.92 and a two-hundred day moving average price of $25.32. 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 company has a market capitalization of $18.36 billion, a PE ratio of 15.02, a PEG ratio of 1.70 and a beta of 0.27. Coterra Energy Inc. has a 52 week low of $22.30 and a 52 week high of $28.90.

Coterra Energy (NYSE:CTRA) last issued its quarterly earnings data on Thursday, October 31st. The company reported $0.32 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 business had revenue of $1.36 billion for the quarter, compared to analyst estimates of $1.28 billion. During the same period in the previous year, the business posted $0.47 EPS. The business’s quarterly revenue was up .2% compared to the same quarter last year. Analysts forecast 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. Stockholders of record on Thursday, November 14th were issued a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a dividend yield of 3.37%. The ex-dividend date of this dividend was Thursday, November 14th. Coterra Energy’s dividend payout ratio (DPR) is presently 50.60%.

Wall Street Analyst Weigh In

CTRA has been the topic of a number of research analyst reports. Wells Fargo & Company increased their price target on Coterra Energy from $32.00 to $35.00 and gave the stock an “overweight” rating in a research report on Friday, November 15th. Susquehanna raised their target price on Coterra Energy from $30.00 to $33.00 and gave the company a “positive” rating in a research note on Thursday, November 14th. Scotiabank cut their price target on Coterra Energy from $35.00 to $32.00 and set a “sector outperform” rating for the company in a report on Thursday, October 10th. Truist Financial increased their price objective on shares of Coterra Energy from $31.00 to $33.00 and gave the stock a “buy” rating in a report on Thursday, November 14th. Finally, Morgan Stanley boosted their target price on shares of Coterra Energy from $27.00 to $29.00 and gave the stock an “equal weight” rating in a research note on Thursday, November 14th. Two analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has assigned 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 $32.47.

Insider Activity at Coterra Energy

In related news, SVP Kevin William Smith sold 29,643 shares of the stock in a transaction dated Tuesday, December 3rd. The stock was sold at an average price of $26.16, for a total transaction of $775,460.88. Following the completion of the transaction, the senior vice president now directly owns 77,075 shares in the company, 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 Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Adam M. Vela sold 16,435 shares of the stock in a transaction that occurred 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 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 ownership of the stock. The disclosure for this sale can be found here. 1.70% of the stock is 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.