WESPAC Advisors LLC Purchases 928 Shares of Coterra Energy Inc. (NYSE:CTRA)

WESPAC Advisors LLC lifted its position in shares of Coterra Energy Inc. (NYSE:CTRA) by 5.7% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 17,292 shares of the company’s stock after buying an additional 928 shares during the quarter. WESPAC Advisors LLC’s holdings in Coterra Energy were worth $414,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Fortitude Family Office LLC boosted its position in Coterra Energy by 154.9% during the 2nd quarter. Fortitude Family Office LLC now owns 933 shares of the company’s stock worth $25,000 after buying an additional 567 shares during the period. Larson Financial Group LLC raised its stake in shares of Coterra Energy by 98.0% during the second quarter. Larson Financial Group LLC now owns 1,081 shares of the company’s stock valued at $29,000 after acquiring an additional 535 shares during the last quarter. Values First Advisors Inc. bought a new position in shares of Coterra Energy during the third quarter valued at $57,000. Tobam acquired a new position in shares of Coterra Energy during the third quarter worth $63,000. Finally, EverSource Wealth Advisors LLC grew its stake in shares of Coterra Energy by 31.0% in the first quarter. EverSource Wealth Advisors LLC now owns 2,351 shares of the company’s stock worth $64,000 after purchasing an additional 557 shares during the last quarter. Institutional investors and hedge funds own 87.92% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on CTRA shares. Truist Financial raised their target price on Coterra Energy from $31.00 to $33.00 and gave the stock a “buy” rating in a research report on Thursday, November 14th. Roth Mkm upgraded Coterra Energy from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $25.00 to $29.00 in a research report on Tuesday, August 27th. Mizuho upped their target price on Coterra Energy from $36.00 to $37.00 and gave the company an “outperform” rating in a report on Friday, November 1st. UBS Group increased their target price on shares of Coterra Energy from $31.00 to $35.00 and gave the company a “buy” rating in a research report on Friday, November 15th. Finally, Morgan Stanley boosted their price target on shares of Coterra Energy from $27.00 to $29.00 and gave the stock an “equal weight” rating in a research report on Thursday, November 14th. 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 company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $32.41.

Insiders Place Their Bets

In other news, SVP Adam M. Vela sold 16,435 shares of the company’s stock in a transaction that occurred 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 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 legal filing with the SEC, which is available at this hyperlink. Insiders own 1.70% of the company’s stock.

Coterra Energy Price Performance

CTRA stock opened at $27.63 on Friday. 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 Inc. has a 1 year low of $22.30 and a 1 year high of $28.90. The company’s 50-day moving average is $24.36 and its 200-day moving average is $25.45. The stock has a market capitalization of $20.35 billion, a PE ratio of 16.64, a price-to-earnings-growth ratio of 1.78 and a beta of 0.22.

Coterra Energy (NYSE:CTRA) last issued its quarterly earnings data on Thursday, October 31st. The company reported $0.32 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.03). The business had revenue of $1.36 billion for the quarter, compared to analyst estimates of $1.28 billion. Coterra Energy had a net margin of 21.91% and a return on equity of 9.38%. The firm’s quarterly revenue was up .2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.47 earnings per share. Equities research analysts expect that Coterra Energy Inc. will post 1.53 EPS for the current fiscal year.

Coterra Energy Announces Dividend

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

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.