Armstrong Advisory Group Inc. Reduces Stake in Coterra Energy Inc. (NYSE:CTRA)

Armstrong Advisory Group Inc. lessened its position in shares of Coterra Energy Inc. (NYSE:CTRA) by 7.3% in the fourth quarter, Holdings Channel reports. The fund owned 5,060 shares of the company’s stock after selling 400 shares during the quarter. Armstrong Advisory Group Inc.’s holdings in Coterra Energy were worth $129,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently bought and sold shares of CTRA. Wellington Management Group LLP grew its position in shares of Coterra Energy by 28.4% during the 3rd quarter. Wellington Management Group LLP now owns 71,210,013 shares of the company’s stock valued at $1,705,480,000 after acquiring an additional 15,736,247 shares during the period. Holocene Advisors LP grew its holdings in Coterra Energy by 187.2% during the third quarter. Holocene Advisors LP now owns 4,533,269 shares of the company’s stock valued at $108,572,000 after purchasing an additional 2,954,675 shares during the period. Bank of Montreal Can increased its position in Coterra Energy by 160.1% in the second quarter. Bank of Montreal Can now owns 2,898,876 shares of the company’s stock worth $80,154,000 after buying an additional 1,784,192 shares in the last quarter. Weiss Asset Management LP bought a new position in shares of Coterra Energy in the third quarter worth about $28,380,000. Finally, Marshall Wace LLP lifted its position in shares of 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 buying an additional 1,127,399 shares in the last quarter. Institutional investors own 87.92% of the company’s stock.

Coterra Energy Trading Up 2.5 %

Shares of CTRA opened at $29.79 on Friday. Coterra Energy Inc. has a twelve month low of $22.30 and a twelve month high of $29.90. The company has a current ratio of 1.61, a quick ratio of 1.56 and a debt-to-equity ratio of 0.16. The company’s fifty day simple moving average is $25.95 and its 200-day simple moving average is $25.01. The company has a market cap of $21.94 billion, a P/E ratio of 17.95, a P/E/G ratio of 0.98 and a beta of 0.27.

Coterra Energy (NYSE:CTRA) last released its earnings results on Thursday, October 31st. The company reported $0.32 EPS for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.03). Coterra Energy had a net margin of 21.91% and a return on equity of 9.38%. The business had revenue of $1.36 billion for the quarter, compared to the consensus estimate of $1.28 billion. During the same period in the prior year, the company posted $0.47 EPS. The company’s quarterly revenue was up .2% compared to the same quarter last year. As a group, analysts expect that Coterra Energy Inc. will post 1.54 EPS for the current year.

Coterra Energy Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, November 27th. Stockholders of record on Thursday, November 14th were issued a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a dividend yield of 2.82%. The ex-dividend date was Thursday, November 14th. Coterra Energy’s payout ratio is presently 50.60%.

Insider Buying and Selling

In related news, SVP Kevin William Smith sold 29,643 shares of the business’s stock in a transaction that occurred on Tuesday, December 3rd. The stock was sold at an average price of $26.16, for a total value of $775,460.88. Following the completion of the sale, the senior vice president now owns 77,075 shares in the company, valued at approximately $2,016,282. The trade was a 27.78 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Adam M. Vela sold 16,435 shares of the firm’s stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $26.76, for a total value of $439,800.60. Following the transaction, the senior vice president now owns 72,409 shares in the company, valued at $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 insiders.

Analyst Ratings Changes

Several research firms recently issued reports on CTRA. Barclays increased their target price on shares of Coterra Energy from $31.00 to $33.00 and gave the stock an “overweight” rating in a report on Thursday, November 14th. Mizuho raised their price objective on shares of Coterra Energy from $37.00 to $40.00 and gave the company an “outperform” rating in a research report on Monday, December 16th. Piper Sandler lowered their target price on shares of Coterra Energy from $35.00 to $33.00 and set an “overweight” rating on the stock in a research note on Tuesday, December 17th. Truist Financial increased their price target on Coterra Energy from $33.00 to $37.00 and gave the stock a “buy” rating in a research note on Monday. Finally, Citigroup boosted their price objective on Coterra Energy from $28.00 to $32.00 and gave the company 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 issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Coterra Energy currently has an average rating of “Moderate Buy” and an average target price of $32.76.

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.