Coterra Energy Inc. (NYSE:CTRA) Position Boosted by Franklin Resources Inc.

Franklin Resources Inc. boosted its stake in Coterra Energy Inc. (NYSE:CTRA) by 40.0% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,194,064 shares of the company’s stock after buying an additional 341,180 shares during the quarter. Franklin Resources Inc. owned approximately 0.16% of Coterra Energy worth $29,147,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Synovus Financial Corp lifted its stake in Coterra Energy by 16.0% in the third quarter. Synovus Financial Corp now owns 15,837 shares of the company’s stock valued at $379,000 after acquiring an additional 2,184 shares during the last quarter. Tidal Investments LLC grew its position in Coterra Energy by 19.9% in the 3rd quarter. Tidal Investments LLC now owns 143,947 shares of the company’s stock worth $3,448,000 after purchasing an additional 23,844 shares during the last quarter. Blankinship & Foster LLC bought a new position in Coterra Energy during the third quarter valued at about $1,420,000. Wilmington Savings Fund Society FSB bought a new stake in shares of Coterra Energy during the third quarter valued at approximately $621,000. Finally, World Investment Advisors LLC acquired a new position in shares of Coterra Energy in the 3rd quarter valued at $1,749,000. 87.92% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on CTRA shares. Wells Fargo & Company increased their target price on Coterra Energy from $32.00 to $35.00 and gave the stock an “overweight” rating in a report on Friday, November 15th. Morgan Stanley upped their price objective 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. 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. Susquehanna lifted their price objective on Coterra Energy from $30.00 to $33.00 and gave the company a “positive” rating in a research report on Thursday, November 14th. Finally, Mizuho increased their target price on Coterra Energy from $37.00 to $40.00 and gave the stock an “outperform” rating in a report on Monday. Two research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Coterra Energy presently has a consensus rating of “Moderate Buy” and a consensus price target of $32.53.

Insider Buying and Selling

In related news, 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 sale, the senior vice president now owns 77,075 shares of the company’s stock, valued at approximately $2,016,282. The trade was a 27.78 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Adam M. Vela sold 16,435 shares of the firm’s 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 completion of the transaction, the senior vice president now owns 72,409 shares of the company’s stock, valued at approximately $1,937,664.84. This 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 currently owned by company insiders.

Coterra Energy Trading Down 3.2 %

NYSE CTRA opened at $23.74 on Thursday. The company has a market capitalization of $17.49 billion, a PE ratio of 14.30, a P/E/G ratio of 1.64 and a beta of 0.27. The stock has a 50-day simple moving average of $25.00 and a 200 day simple moving average of $25.16. The company has a current ratio of 1.61, a quick ratio of 1.56 and a debt-to-equity ratio of 0.16. Coterra Energy Inc. has a 12 month low of $22.30 and a 12 month high of $28.90.

Coterra Energy (NYSE:CTRA) last posted its 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 for the quarter, compared to the consensus estimate of $1.28 billion. During the same quarter in the prior year, the firm posted $0.47 earnings per share. The business’s revenue was up .2% on a year-over-year basis. Research analysts forecast that Coterra Energy Inc. will post 1.53 EPS for the current year.

Coterra Energy Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, November 27th. Shareholders of record on Thursday, November 14th were paid a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a yield of 3.54%. The ex-dividend date was Thursday, November 14th. Coterra Energy’s payout ratio is currently 50.60%.

Coterra Energy Company 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.