MML Investors Services LLC Purchases 4,428 Shares of Coterra Energy Inc. (NYSE:CTRA)

MML Investors Services LLC boosted its position in Coterra Energy Inc. (NYSE:CTRA) by 4.4% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 106,012 shares of the company’s stock after acquiring an additional 4,428 shares during the quarter. MML Investors Services LLC’s holdings in Coterra Energy were worth $2,539,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Larson Financial Group LLC boosted its stake in shares of Coterra Energy by 98.0% in the 2nd quarter. Larson Financial Group LLC now owns 1,081 shares of the company’s stock valued at $29,000 after purchasing an additional 535 shares in the last quarter. Values First Advisors Inc. bought a new stake in shares of Coterra Energy during the third quarter worth $57,000. Family Firm Inc. acquired a new stake in shares of Coterra Energy during the 2nd quarter valued at $68,000. Tobam bought a new stake in Coterra Energy during the 3rd quarter worth $63,000. Finally, Capital Performance Advisors LLP acquired a new position in Coterra Energy in the 3rd quarter worth about $67,000. 87.92% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

CTRA has been the topic of a number of recent research reports. Piper Sandler lifted their price target on Coterra Energy from $32.00 to $35.00 and gave the company an “overweight” rating in a research note on Thursday, November 14th. 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 report on Friday, November 1st. Roth Capital raised shares of Coterra Energy from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, August 27th. Morgan Stanley boosted their price objective 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. Finally, 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. Two investment analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Coterra Energy currently has an average rating of “Moderate Buy” and an average price target of $32.47.

Coterra Energy Trading Down 1.3 %

Shares of CTRA stock opened at $25.33 on Monday. The company has a market cap of $18.66 billion, a P/E ratio of 15.26, a PEG ratio of 1.64 and a beta of 0.27. Coterra Energy Inc. has a fifty-two week low of $22.30 and a fifty-two week high of $28.90. The stock has a 50 day simple moving average of $25.00 and a two-hundred day simple moving average of $25.21. 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 (NYSE:CTRA) last released its quarterly earnings data on Thursday, October 31st. The company reported $0.32 earnings per share for the quarter, missing the consensus estimate of $0.35 by ($0.03). The company had revenue of $1.36 billion during the quarter, compared to the consensus estimate of $1.28 billion. Coterra Energy had a net margin of 21.91% and a return on equity of 9.38%. The business’s revenue was up .2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.47 EPS. Research analysts forecast that Coterra Energy Inc. will post 1.53 earnings per share for the current year.

Coterra Energy Announces Dividend

The business also recently disclosed 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. The ex-dividend date was Thursday, November 14th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 3.32%. Coterra Energy’s dividend payout ratio (DPR) is presently 50.60%.

Insider Activity

In other Coterra Energy news, SVP Kevin William Smith sold 29,643 shares of the firm’s stock in a transaction on Tuesday, December 3rd. The shares were sold at an average price of $26.16, for a total value of $775,460.88. Following the transaction, the senior vice president now directly owns 77,075 shares of the company’s stock, valued at approximately $2,016,282. This trade represents a 27.78 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Adam M. Vela sold 16,435 shares of the business’s stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of $26.76, for a total transaction of $439,800.60. Following the sale, the senior vice president now directly 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 ownership of the stock. The disclosure for this sale can be found here. 1.70% of the stock is currently owned by company insiders.

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.