Holocene Advisors LP Buys 2,954,675 Shares of Coterra Energy Inc. (NYSE:CTRA)

Holocene Advisors LP lifted its stake in Coterra Energy Inc. (NYSE:CTRA) by 187.2% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 4,533,269 shares of the company’s stock after acquiring an additional 2,954,675 shares during the period. Holocene Advisors LP owned 0.62% of Coterra Energy worth $108,572,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. B. Riley Wealth Advisors Inc. raised its stake in Coterra Energy by 8.4% in the 1st quarter. B. Riley Wealth Advisors Inc. now owns 15,621 shares of the company’s stock worth $431,000 after acquiring an additional 1,215 shares during the last quarter. Cetera Investment Advisers lifted its holdings in Coterra Energy by 283.4% in the 1st quarter. Cetera Investment Advisers now owns 209,095 shares of the company’s stock valued at $5,830,000 after purchasing an additional 154,551 shares in the last quarter. Cetera Advisors LLC boosted its position in Coterra Energy by 88.0% during the first quarter. Cetera Advisors LLC now owns 58,676 shares of the company’s stock worth $1,636,000 after acquiring an additional 27,463 shares during the last quarter. EverSource Wealth Advisors LLC grew its position 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 valued at $64,000 after purchasing an additional 557 shares in the last quarter. Finally, GAMMA Investing LLC grew its holdings in Coterra Energy by 61.3% in the 2nd quarter. GAMMA Investing LLC now owns 11,041 shares of the company’s stock valued at $294,000 after buying an additional 4,195 shares in the last quarter. 87.92% of the stock is currently owned by institutional investors.

Coterra Energy Stock Up 1.0 %

CTRA opened at $26.98 on Monday. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.56 and a current ratio of 1.61. Coterra Energy Inc. has a 1 year low of $22.30 and a 1 year high of $28.90. The firm has a 50 day moving average price of $24.71 and a 200 day moving average price of $25.37. The company has a market cap of $19.87 billion, a PE ratio of 16.10, a price-to-earnings-growth ratio of 1.74 and a beta of 0.22.

Coterra Energy (NYSE:CTRA) last announced its earnings results 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). 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 analysts’ expectations of $1.28 billion. During the same period in the previous year, the firm posted $0.47 earnings per share. The firm’s revenue was up .2% compared to the same quarter last year. Sell-side analysts expect that Coterra Energy Inc. will post 1.53 earnings per share for the current year.

Coterra Energy Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, November 27th. Stockholders of record on Thursday, November 14th were given a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 3.11%. The ex-dividend date of this dividend was Thursday, November 14th. Coterra Energy’s payout ratio is currently 50.60%.

Insider Buying and Selling

In related news, SVP Adam M. Vela sold 16,435 shares of Coterra Energy stock in a transaction dated 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 in the company, valued at approximately $1,937,664.84. This trade represents a 18.50 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 1.70% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on CTRA shares. Wells Fargo & Company lifted their price target on shares of Coterra Energy from $32.00 to $35.00 and gave the company an “overweight” rating in a research report on Friday, November 15th. 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 note on Thursday, November 14th. Truist Financial lifted their price objective on shares of Coterra Energy from $31.00 to $33.00 and gave the company a “buy” rating in a report on Thursday, November 14th. Roth Capital upgraded Coterra Energy from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, August 27th. Finally, Citigroup lifted their price objective on shares of Coterra Energy from $28.00 to $32.00 and gave the stock a “buy” rating in a research report on Tuesday, November 26th. Two equities 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 stock. According to data from MarketBeat.com, Coterra Energy has an average rating of “Moderate Buy” and an average price target of $32.47.

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.