Merit Financial Group LLC Invests $257,000 in Coterra Energy Inc. (NYSE:CTRA)

Merit Financial Group LLC bought a new position in shares of Coterra Energy Inc. (NYSE:CTRA - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund bought 10,055 shares of the company's stock, valued at approximately $257,000.

A number of other large investors have also added to or reduced their stakes in CTRA. AE Wealth Management LLC boosted its holdings in shares of Coterra Energy by 36.1% during the second quarter. AE Wealth Management LLC now owns 11,481 shares of the company's stock worth $306,000 after acquiring an additional 3,046 shares during the period. EverSource Wealth Advisors LLC boosted its stake in Coterra Energy by 48.0% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 3,479 shares of the company's stock valued at $90,000 after purchasing an additional 1,128 shares during the period. Public Sector Pension Investment Board grew its holdings in Coterra Energy by 3.6% in the 2nd quarter. Public Sector Pension Investment Board now owns 129,480 shares of the company's stock valued at $3,453,000 after buying an additional 4,475 shares in the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its position in Coterra Energy by 60.7% during the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 143,887 shares of the company's stock worth $3,837,000 after buying an additional 54,356 shares during the period. Finally, AQR Capital Management LLC lifted its holdings in shares of Coterra Energy by 7.2% during the second quarter. AQR Capital Management LLC now owns 2,844,737 shares of the company's stock worth $75,869,000 after buying an additional 190,470 shares in the last quarter. Institutional investors own 87.92% of the company's stock.

Analysts Set New Price Targets

Several research firms recently commented on CTRA. Scotiabank decreased their price target on shares of Coterra Energy from $35.00 to $32.00 and set a "sector outperform" rating on the stock in a research note on Thursday, October 10th. Citigroup increased their target price on shares of Coterra Energy from $28.00 to $32.00 and gave the stock a "buy" rating in a research report on Tuesday, November 26th. UBS Group raised their target price on shares of Coterra Energy from $31.00 to $35.00 and gave the stock a "buy" rating in a report on Friday, November 15th. 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 note on Thursday, November 14th. Finally, Piper Sandler lowered their price objective on Coterra Energy from $35.00 to $33.00 and set an "overweight" rating on the stock in a research note on Tuesday, December 17th. Two investment analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Coterra Energy presently has an average rating of "Moderate Buy" and an average price target of $33.18.

Coterra Energy Price Performance

Shares of CTRA traded down $0.18 during mid-day trading on Friday, reaching $29.05. The company had a trading volume of 4,629,218 shares, compared to its average volume of 5,787,151. The company has a market capitalization of $21.40 billion, a price-to-earnings ratio of 17.50, a P/E/G ratio of 0.65 and a beta of 0.27. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.56 and a current ratio of 1.61. The company's 50 day simple moving average is $26.43 and its 200 day simple moving average is $25.10. Coterra Energy Inc. has a 1-year low of $22.30 and a 1-year high of $29.95.

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

Coterra Energy Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, November 27th. Shareholders of record on Thursday, November 14th were issued a $0.21 dividend. The ex-dividend date of this dividend was Thursday, November 14th. This represents a $0.84 dividend on an annualized basis and a yield of 2.89%. Coterra Energy's payout ratio is presently 50.60%.

Insider Buying and Selling at Coterra Energy

In other Coterra Energy news, SVP Kevin William Smith sold 29,643 shares of Coterra Energy 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 of the company's stock, valued at approximately $2,016,282. The trade was a 27.78 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, 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 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 position. The disclosure for this sale can be found here. Corporate insiders own 1.70% of the company's stock.

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.