Truvestments Capital LLC Invests $115,000 in Coterra Energy Inc. (NYSE:CTRA)

Truvestments Capital LLC bought a new stake in Coterra Energy Inc. (NYSE:CTRA) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 4,797 shares of the company’s stock, valued at approximately $115,000.

A number of other institutional investors have also added to or reduced their stakes in CTRA. Bank of Montreal Can increased its holdings in shares of Coterra Energy by 160.1% during the second quarter. Bank of Montreal Can now owns 2,898,876 shares of the company’s stock valued at $80,154,000 after acquiring an additional 1,784,192 shares in the last quarter. Marshall Wace LLP increased its stake in Coterra Energy by 5,325.5% during the 2nd quarter. Marshall Wace LLP now owns 1,148,569 shares of the company’s stock valued at $30,632,000 after purchasing an additional 1,127,399 shares in the last quarter. American Century Companies Inc. raised its holdings in Coterra Energy by 29.1% during the second quarter. American Century Companies Inc. now owns 4,498,227 shares of the company’s stock worth $119,968,000 after buying an additional 1,013,107 shares during the last quarter. Susquehanna Fundamental Investments LLC bought a new position in shares of Coterra Energy in the second quarter valued at $12,898,000. Finally, US Bancorp DE grew its holdings in shares of Coterra Energy by 30.0% during the third quarter. US Bancorp DE now owns 1,632,233 shares of the company’s stock valued at $39,092,000 after buying an additional 376,607 shares during the last quarter. 87.92% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Coterra Energy news, SVP Adam M. Vela sold 16,435 shares of the firm’s stock in a transaction on Wednesday, November 20th. The shares were 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 trade represents a 18.50 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 1.70% of the stock is owned by corporate insiders.

Coterra Energy Price Performance

Shares of NYSE:CTRA opened at $26.79 on Wednesday. The firm has a market capitalization of $19.73 billion, a PE ratio of 16.14, a P/E/G ratio of 1.80 and a beta of 0.22. The company has a quick ratio of 1.56, a current ratio of 1.61 and a debt-to-equity ratio of 0.16. The company has a 50-day moving average price of $24.44 and a two-hundred day moving average price of $25.40. Coterra Energy Inc. has a twelve month low of $22.30 and a twelve month high of $28.90.

Coterra Energy (NYSE:CTRA) last released its quarterly earnings data on Thursday, October 31st. The company reported $0.32 EPS for the quarter, missing the consensus estimate of $0.35 by ($0.03). The business had revenue of $1.36 billion during the quarter, compared to the consensus estimate 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% on a year-over-year basis. During the same period last year, the business posted $0.47 earnings per share. Equities analysts forecast that Coterra Energy Inc. will post 1.53 EPS for the current year.

Coterra Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 27th. Investors of record on Thursday, November 14th will be issued a dividend of $0.21 per share. The ex-dividend date is Thursday, November 14th. This represents a $0.84 dividend on an annualized basis and a yield of 3.14%. Coterra Energy’s dividend payout ratio (DPR) is 50.60%.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on CTRA shares. Stephens raised their price target on shares of Coterra Energy from $28.00 to $29.00 and gave the company an “overweight” rating in a research report on Friday, November 1st. Wells Fargo & Company raised their target price on Coterra Energy from $32.00 to $35.00 and gave the company an “overweight” rating in a report on Friday, November 15th. Scotiabank lowered their price target on Coterra Energy from $35.00 to $32.00 and set a “sector outperform” rating for the company in a research report on Thursday, October 10th. Piper Sandler raised their price objective on Coterra Energy from $32.00 to $35.00 and gave the company an “overweight” rating in a research note on Thursday, November 14th. Finally, JPMorgan Chase & Co. reduced their target price on shares of Coterra Energy from $31.00 to $26.00 and set an “overweight” rating for the company in a research note on Thursday, September 12th. Two 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. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price 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.