73,018 Shares in Coterra Energy Inc. (NYSE:CTRA) Acquired by World Investment Advisors LLC

World Investment Advisors LLC purchased a new stake in shares of Coterra Energy Inc. (NYSE:CTRA) in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 73,018 shares of the company’s stock, valued at approximately $1,749,000.

Several other hedge funds have also added to or reduced their stakes in CTRA. Charles Schwab Investment Management Inc. increased its stake in shares of Coterra Energy by 1.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 22,156,361 shares of the company’s stock worth $530,645,000 after purchasing an additional 305,626 shares during the period. Hartford Funds Management Co LLC bought a new position in Coterra Energy during the 3rd quarter worth $575,000. HITE Hedge Asset Management LLC lifted its holdings in shares of Coterra Energy by 406.3% during the third quarter. HITE Hedge Asset Management LLC now owns 707,729 shares of the company’s stock worth $16,950,000 after buying an additional 567,934 shares in the last quarter. Raymond James & Associates boosted its position in shares of Coterra Energy by 5.0% in the second quarter. Raymond James & Associates now owns 1,187,663 shares of the company’s stock valued at $31,675,000 after acquiring an additional 56,748 shares during the period. Finally, Barclays PLC grew its stake in shares of Coterra Energy by 3.1% in the third quarter. Barclays PLC now owns 2,147,263 shares of the company’s stock valued at $51,425,000 after acquiring an additional 64,753 shares in the last quarter. Institutional investors and hedge funds own 87.92% of the company’s stock.

Insider Activity at Coterra Energy

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

Coterra Energy Stock Performance

Shares of Coterra Energy stock opened at $25.33 on Friday. The company’s 50 day moving average price is $25.00 and its two-hundred day moving average price is $25.23. The firm has a market capitalization of $18.66 billion, a P/E ratio of 15.26, a P/E/G ratio of 1.64 and a beta of 0.27. 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 debt-to-equity ratio of 0.16, a current ratio of 1.61 and a quick ratio of 1.56.

Coterra Energy (NYSE:CTRA) last released its quarterly earnings data 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 net margin of 21.91% and a return on equity of 9.38%. The firm had revenue of $1.36 billion for the quarter, compared to analyst estimates of $1.28 billion. During the same period last year, the business earned $0.47 EPS. The company’s revenue was up .2% compared to the same quarter last year. On average, equities analysts forecast that Coterra Energy Inc. will post 1.53 earnings per share for the current fiscal year.

Coterra Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, November 27th. Stockholders of record on Thursday, November 14th were paid a $0.21 dividend. This represents a $0.84 annualized dividend and a dividend yield of 3.32%. The ex-dividend date was Thursday, November 14th. Coterra Energy’s dividend payout ratio is currently 50.60%.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on CTRA shares. UBS Group increased their target price on shares of Coterra Energy from $31.00 to $35.00 and gave the stock a “buy” rating in a research report on Friday, November 15th. Morgan Stanley raised their price objective on Coterra Energy from $27.00 to $29.00 and gave the stock an “equal weight” rating in a research note on Thursday, November 14th. Piper Sandler lifted their price objective on Coterra Energy from $32.00 to $35.00 and gave the company an “overweight” rating in a report on Thursday, November 14th. JPMorgan Chase & Co. reduced their target price on Coterra Energy from $31.00 to $26.00 and set an “overweight” rating on the stock in a report on Thursday, September 12th. Finally, Scotiabank dropped their price target on Coterra Energy from $35.00 to $32.00 and set a “sector outperform” rating for the company in a research note on Thursday, October 10th. 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 stock. According to MarketBeat.com, Coterra Energy presently has an average rating of “Moderate Buy” and a consensus target price 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.