M.E. Allison & CO. Inc. Acquires New Stake in Coterra Energy Inc. (NYSE:CTRA)

M.E. Allison & CO. Inc. bought a new stake in Coterra Energy Inc. (NYSE:CTRA - Free Report) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 8,486 shares of the company's stock, valued at approximately $217,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of CTRA. City State Bank purchased a new stake in Coterra Energy during the 4th quarter worth about $26,000. AdvisorNet Financial Inc lifted its holdings in Coterra Energy by 192.2% during the 4th quarter. AdvisorNet Financial Inc now owns 1,131 shares of the company's stock worth $29,000 after buying an additional 744 shares during the last quarter. Values First Advisors Inc. purchased a new stake in Coterra Energy during the 3rd quarter worth about $57,000. Tobam purchased a new stake in Coterra Energy during the 3rd quarter worth about $63,000. Finally, Capital Performance Advisors LLP purchased a new stake in Coterra Energy during the 3rd quarter worth about $67,000. 87.92% of the stock is currently owned by hedge funds and other institutional investors.

Coterra Energy Stock Down 1.1 %

NYSE CTRA traded down $0.34 during trading hours on Tuesday, hitting $29.13. The company had a trading volume of 8,681,696 shares, compared to its average volume of 7,573,896. Coterra Energy Inc. has a fifty-two week low of $22.30 and a fifty-two week high of $29.95. The company has a market capitalization of $21.46 billion, a price-to-earnings ratio of 17.55, a P/E/G ratio of 0.71 and a beta of 0.27. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.61 and a quick ratio of 1.56. The firm's 50 day moving average is $26.13 and its 200 day moving average is $25.02.

Coterra Energy (NYSE:CTRA - Get Free Report) last announced its quarterly earnings results on Thursday, October 31st. The company reported $0.32 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.35 by ($0.03). Coterra Energy had a net margin of 21.91% and a return on equity of 9.38%. The company had revenue of $1.36 billion during the quarter, compared to analyst estimates of $1.28 billion. During the same quarter in the prior year, the company posted $0.47 earnings per share. The firm's revenue for the quarter was up .2% on a year-over-year basis. Sell-side analysts anticipate that Coterra Energy Inc. will post 1.54 earnings per share for the current fiscal year.

Coterra Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, November 27th. Stockholders of record on Thursday, November 14th were paid a dividend of $0.21 per share. The ex-dividend date was Thursday, November 14th. This represents a $0.84 annualized dividend and a dividend yield of 2.88%. Coterra Energy's dividend payout ratio is presently 50.60%.

Insider Activity

In other 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 transaction of $439,800.60. Following the transaction, the senior vice president now owns 72,409 shares of the company's stock, valued at approximately $1,937,664.84. This trade represents a 18.50 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Kevin William Smith sold 29,643 shares of the stock in a transaction dated Tuesday, December 3rd. The stock was sold at an average price of $26.16, for a total transaction of $775,460.88. Following the transaction, the senior vice president now directly owns 77,075 shares in the company, valued at $2,016,282. The trade was a 27.78 % decrease in their position. The disclosure for this sale can be found here. Insiders own 1.70% of the company's stock.

Wall Street Analysts Forecast Growth

CTRA has been the subject of several research reports. Piper Sandler reduced their target price on Coterra Energy from $35.00 to $33.00 and set an "overweight" rating for the company in a report on Tuesday, December 17th. Mizuho boosted their price target on Coterra Energy from $37.00 to $40.00 and gave the company an "outperform" rating in a research report on Monday, December 16th. Morgan Stanley boosted their price target on Coterra Energy from $27.00 to $29.00 and gave the company an "equal weight" rating in a research report on Thursday, November 14th. Citigroup boosted their price target on Coterra Energy from $28.00 to $32.00 and gave the company a "buy" rating in a research report on Tuesday, November 26th. Finally, Truist Financial boosted their price target on Coterra Energy from $33.00 to $37.00 and gave the company a "buy" rating in a research report on Monday, January 13th. Two analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $32.76.

Coterra Energy 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.