Pekin Hardy Strauss Inc. Decreases Stake in Coterra Energy Inc. (NYSE:CTRA)

Pekin Hardy Strauss Inc. decreased its stake in shares of Coterra Energy Inc. (NYSE:CTRA) by 3.9% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 49,920 shares of the company’s stock after selling 2,000 shares during the period. Pekin Hardy Strauss Inc.’s holdings in Coterra Energy were worth $1,196,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Fortitude Family Office LLC grew its stake in shares of Coterra Energy by 154.9% during the 2nd quarter. Fortitude Family Office LLC now owns 933 shares of the company’s stock valued at $25,000 after acquiring an additional 567 shares during the period. Larson Financial Group LLC increased its position in 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 Coterra Energy during the 3rd quarter valued at about $57,000. Tobam purchased a new stake in shares of Coterra Energy in the third quarter worth approximately $63,000. Finally, EverSource Wealth Advisors LLC increased its stake in 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 period. 87.92% of the stock is currently owned by hedge funds and other institutional investors.

Coterra Energy Stock Up 0.7 %

CTRA stock opened at $27.63 on Monday. The stock has a market capitalization 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. Coterra Energy Inc. has a 52 week low of $22.30 and a 52 week high of $28.90. The firm has a 50-day simple moving average of $24.36 and a 200-day simple moving average of $25.43. The company has a quick ratio of 1.56, a current ratio of 1.61 and a debt-to-equity ratio of 0.16.

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

Coterra Energy Dividend Announcement

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 dividend on an annualized basis 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 currently 50.60%.

Insider Activity

In other news, SVP Adam M. Vela sold 16,435 shares of the stock in a transaction on 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 in the company, valued at approximately $1,937,664.84. This represents a 18.50 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 1.70% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the stock. Wells Fargo & Company raised their target price on shares of Coterra Energy from $32.00 to $35.00 and gave the stock an “overweight” rating in a research report on Friday, November 15th. Roth Mkm raised 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. Roth Capital upgraded shares of Coterra Energy from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, August 27th. Susquehanna increased their price objective on Coterra Energy from $30.00 to $33.00 and gave the company a “positive” rating in a report on Thursday, November 14th. Finally, Truist Financial raised their target price on shares of Coterra Energy from $31.00 to $33.00 and gave the stock a “buy” rating in a report on Thursday, November 14th. Two research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $32.41.

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.