Eagle Asset Management Inc. Buys 194,986 Shares of Coterra Energy Inc. (NYSE:CTRA)

Eagle Asset Management Inc. grew its stake in Coterra Energy Inc. (NYSE:CTRA) by 101.2% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 387,665 shares of the company’s stock after buying an additional 194,986 shares during the period. Eagle Asset Management Inc. owned approximately 0.05% of Coterra Energy worth $9,529,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Bank of Montreal Can boosted its holdings in shares of Coterra Energy by 160.1% during the 2nd quarter. Bank of Montreal Can now owns 2,898,876 shares of the company’s stock worth $80,154,000 after buying an additional 1,784,192 shares during the period. Marshall Wace LLP boosted its holdings 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 valued at $30,632,000 after acquiring an additional 1,127,399 shares during the period. American Century Companies Inc. grew its position in shares of Coterra Energy by 29.1% in the second quarter. American Century Companies Inc. now owns 4,498,227 shares of the company’s stock valued at $119,968,000 after purchasing an additional 1,013,107 shares during the last quarter. Earnest Partners LLC increased its stake in shares of Coterra Energy by 37.5% in the first quarter. Earnest Partners LLC now owns 1,918,569 shares of the company’s stock worth $53,490,000 after purchasing an additional 523,480 shares during the period. Finally, Susquehanna Fundamental Investments LLC acquired a new position in shares of Coterra Energy during the 2nd quarter worth about $12,898,000. Institutional investors own 87.92% of the company’s stock.

Insider Buying and Selling

In other news, SVP Adam M. Vela sold 16,435 shares of the company’s stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of $26.76, for a total transaction of $439,800.60. Following the completion of the transaction, the senior vice president now directly owns 72,409 shares of the company’s stock, valued at $1,937,664.84. This represents a 18.50 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.70% of the stock is currently owned by company insiders.

Coterra Energy Stock Up 0.7 %

Shares of NYSE CTRA opened at $27.63 on Friday. Coterra Energy Inc. has a 52-week low of $22.30 and a 52-week high of $28.90. 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 has a market cap of $20.35 billion, a P/E ratio of 16.64, a P/E/G ratio of 1.78 and a beta of 0.22. The firm has a 50 day moving average price of $24.36 and a 200 day moving average price of $25.45.

Coterra Energy (NYSE:CTRA) last announced its quarterly earnings results on Thursday, October 31st. The company reported $0.32 earnings per share (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 during the quarter, compared to the consensus estimate of $1.28 billion. During the same quarter last year, the company earned $0.47 earnings per share. The firm’s revenue was up .2% compared to the same quarter last year. Analysts expect that Coterra Energy Inc. will post 1.53 EPS for the current year.

Coterra Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 27th. Stockholders of record on Thursday, November 14th will be given a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a dividend yield of 3.04%. The ex-dividend date of this dividend is Thursday, November 14th. Coterra Energy’s dividend payout ratio is 50.60%.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on CTRA. Piper Sandler lifted their target price on Coterra Energy from $32.00 to $35.00 and gave the stock an “overweight” rating in a research report on Thursday, November 14th. Susquehanna boosted their price target on shares of Coterra Energy from $30.00 to $33.00 and gave the company a “positive” rating in a research report on Thursday, November 14th. Stephens boosted their price objective on Coterra Energy from $28.00 to $29.00 and gave the stock an “overweight” rating in a research note on Friday, November 1st. JPMorgan Chase & Co. decreased 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, Roth Capital raised Coterra Energy from a “hold” rating to a “strong-buy” rating in a report on Tuesday, August 27th. Two research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Coterra Energy presently has an average rating of “Moderate Buy” and an average target price of $32.41.

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.