Zurcher Kantonalbank Zurich Cantonalbank Grows Stake in Coterra Energy Inc. (NYSE:CTRA)

Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of Coterra Energy Inc. (NYSE:CTRA) by 395.4% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 899,838 shares of the company’s stock after purchasing an additional 718,182 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Coterra Energy were worth $21,551,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of the stock. Fortitude Family Office LLC grew its holdings in Coterra Energy by 154.9% during the second quarter. Fortitude Family Office LLC now owns 933 shares of the company’s stock valued at $25,000 after purchasing an additional 567 shares during the period. Larson Financial Group LLC lifted its position in shares of Coterra Energy by 98.0% during the 2nd quarter. Larson Financial Group LLC now owns 1,081 shares of the company’s stock valued at $29,000 after buying an additional 535 shares during the last quarter. Values First Advisors Inc. bought a new position in shares of Coterra Energy during the 3rd quarter worth $57,000. Tobam purchased a new stake in Coterra Energy in the 3rd quarter worth about $63,000. Finally, EverSource Wealth Advisors LLC increased its holdings in Coterra Energy by 31.0% in the 1st quarter. EverSource Wealth Advisors LLC now owns 2,351 shares of the company’s stock worth $64,000 after acquiring an additional 557 shares during the last quarter. Institutional investors own 87.92% of the company’s stock.

Insider Buying and Selling at Coterra Energy

In related news, SVP Adam M. Vela sold 16,435 shares of the stock in a transaction dated 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 represents a 18.50 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 1.70% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently commented on CTRA shares. Citigroup upped their price target on shares of Coterra Energy from $28.00 to $32.00 and gave the company a “buy” rating in a research note on Tuesday. JPMorgan Chase & Co. reduced their price target on Coterra Energy from $31.00 to $26.00 and set an “overweight” rating for the company in a research report on Thursday, September 12th. Roth Capital raised Coterra Energy from a “hold” rating to a “strong-buy” rating in a report on Tuesday, August 27th. Morgan Stanley lifted their target price on Coterra Energy from $27.00 to $29.00 and gave the company an “equal weight” rating in a report on Thursday, November 14th. Finally, Stephens upped their price target on Coterra Energy from $28.00 to $29.00 and gave the company an “overweight” rating in a research report on Friday, November 1st. Two investment analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $32.47.

Coterra Energy Price Performance

CTRA opened at $26.72 on Friday. The stock has a 50-day moving average price of $24.71 and a 200-day moving average price of $25.40. The stock has a market capitalization of $19.68 billion, a P/E ratio of 16.10, a PEG ratio of 1.73 and a beta of 0.22. Coterra Energy Inc. has a 12-month low of $22.30 and a 12-month high of $28.90. The company has a current ratio of 1.61, a quick ratio of 1.56 and a debt-to-equity ratio of 0.16.

Coterra Energy (NYSE:CTRA) last posted its quarterly earnings results 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 for the quarter, compared to analysts’ expectations of $1.28 billion. Coterra Energy had a return on equity of 9.38% and a net margin of 21.91%. The company’s revenue was up .2% compared to the same quarter last year. During the same period last year, the business posted $0.47 earnings per share. Equities analysts predict that Coterra Energy Inc. will post 1.53 earnings per share for the current fiscal year.

Coterra Energy Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, November 27th. Investors of record on Thursday, November 14th were paid a $0.21 dividend. This represents a $0.84 annualized dividend and a dividend yield of 3.14%. The ex-dividend date was Thursday, November 14th. Coterra Energy’s payout ratio is 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.