MetLife Investment Management LLC Has $4.61 Million Stake in Coterra Energy Inc. (NYSE:CTRA)

MetLife Investment Management LLC reduced its stake in shares of Coterra Energy Inc. (NYSE:CTRA) by 3.1% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 192,271 shares of the company’s stock after selling 6,191 shares during the period. MetLife Investment Management LLC’s holdings in Coterra Energy were worth $4,605,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Fifth Third Bancorp raised its stake in shares of Coterra Energy by 0.6% in the 2nd quarter. Fifth Third Bancorp now owns 71,138 shares of the company’s stock valued at $1,897,000 after acquiring an additional 399 shares in the last quarter. TCW Group Inc. lifted its stake in shares of Coterra Energy by 4.0% in the second quarter. TCW Group Inc. now owns 10,447 shares of the company’s stock worth $279,000 after buying an additional 404 shares during the last quarter. Cornercap Investment Counsel Inc. boosted its holdings in shares of Coterra Energy by 0.7% during the 2nd quarter. Cornercap Investment Counsel Inc. now owns 66,280 shares of the company’s stock worth $1,768,000 after buying an additional 436 shares during the period. Bruce G. Allen Investments LLC grew its stake in Coterra Energy by 17.4% in the 3rd quarter. Bruce G. Allen Investments LLC now owns 3,033 shares of the company’s stock valued at $73,000 after buying an additional 450 shares during the last quarter. Finally, Venturi Wealth Management LLC raised its holdings in Coterra Energy by 1.4% in the 3rd quarter. Venturi Wealth Management LLC now owns 33,559 shares of the company’s stock worth $804,000 after acquiring an additional 474 shares during the period. Institutional investors and hedge funds own 87.92% of the company’s stock.

Coterra Energy Trading Up 0.1 %

Shares of NYSE CTRA opened at $26.72 on Monday. Coterra Energy Inc. has a 1-year low of $22.30 and a 1-year high of $28.90. The company has a current ratio of 1.61, a quick ratio of 1.56 and a debt-to-equity ratio of 0.16. The company has a 50-day moving average of $24.71 and a two-hundred day moving average of $25.37. The company has a market cap of $19.68 billion, a PE ratio of 16.10, a P/E/G ratio of 1.74 and a beta of 0.22.

Coterra Energy (NYSE:CTRA) last posted its quarterly earnings data 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). The firm had revenue of $1.36 billion for the quarter, compared to analyst estimates of $1.28 billion. Coterra Energy had a return on equity of 9.38% and a net margin of 21.91%. The firm’s quarterly revenue was up .2% compared to the same quarter last year. During the same period in the prior year, the company posted $0.47 EPS. As a group, equities analysts expect 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. Investors of record on Thursday, November 14th were given 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 50.60%.

Insiders Place Their Bets

In other Coterra Energy news, SVP Adam M. Vela sold 16,435 shares of Coterra Energy stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of $26.76, for a total transaction of $439,800.60. Following the completion of the sale, the senior vice president now owns 72,409 shares of the company’s stock, valued at approximately $1,937,664.84. The trade was a 18.50 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 1.70% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on CTRA shares. Piper Sandler upped their price target on shares of Coterra Energy from $32.00 to $35.00 and gave the company an “overweight” rating in a report on Thursday, November 14th. UBS Group increased their target price on Coterra Energy from $31.00 to $35.00 and gave the company a “buy” rating in a research note on Friday, November 15th. Citigroup upped their price target on Coterra Energy from $28.00 to $32.00 and gave the stock a “buy” rating in a report on Tuesday, November 26th. Morgan Stanley increased their price objective on Coterra Energy from $27.00 to $29.00 and gave the company an “equal weight” rating in a research report on Thursday, November 14th. Finally, Stephens boosted their target price on shares of Coterra Energy from $28.00 to $29.00 and gave the stock an “overweight” rating in a research report on Friday, November 1st. Two equities research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Coterra Energy has a consensus rating of “Moderate Buy” and a consensus 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.