Partnership Wealth Management LLC Takes Position in Coterra Energy Inc. (NYSE:CTRA)

Partnership Wealth Management LLC purchased a new position in Coterra Energy Inc. (NYSE:CTRA - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 43,867 shares of the company's stock, valued at approximately $1,120,000. Coterra Energy comprises about 0.9% of Partnership Wealth Management LLC's investment portfolio, making the stock its 29th largest position.

Several other institutional investors have also added to or reduced their stakes in CTRA. Larson Financial Group LLC increased its stake in shares of Coterra Energy by 98.0% in the second quarter. Larson Financial Group LLC now owns 1,081 shares of the company's stock worth $29,000 after buying an additional 535 shares during the period. Private Advisor Group LLC increased its position in shares of Coterra Energy by 24.9% in the second quarter. Private Advisor Group LLC now owns 177,668 shares of the company's stock valued at $4,738,000 after acquiring an additional 35,379 shares during the period. Candriam S.C.A. raised its stake in shares of Coterra Energy by 27.0% during the second quarter. Candriam S.C.A. now owns 38,761 shares of the company's stock valued at $1,034,000 after acquiring an additional 8,244 shares during the last quarter. Cullen Frost Bankers Inc. boosted its holdings in shares of Coterra Energy by 9.5% during the second quarter. Cullen Frost Bankers Inc. now owns 14,416 shares of the company's stock worth $384,000 after purchasing an additional 1,249 shares during the period. Finally, Acadian Asset Management LLC bought a new stake in shares of Coterra Energy in the second quarter worth about $1,807,000. 87.92% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Coterra Energy

In other news, SVP Kevin William Smith sold 29,643 shares of Coterra Energy stock in a transaction that occurred 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 completion of the sale, 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 ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP Adam M. Vela sold 16,435 shares of the stock in a transaction that occurred on 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 in the company, valued at approximately $1,937,664.84. This trade represents a 18.50 % decrease in their position. The disclosure for this sale can be found here. 1.70% of the stock is currently owned by insiders.

Coterra Energy Stock Up 2.9 %

Shares of NYSE CTRA traded up $0.76 during trading on Wednesday, reaching $27.12. The company had a trading volume of 9,084,019 shares, compared to its average volume of 5,634,920. Coterra Energy Inc. has a 12-month low of $22.30 and a 12-month high of $28.90. The company has a quick ratio of 1.56, a current ratio of 1.61 and a debt-to-equity ratio of 0.16. The business's 50-day moving average is $25.30 and its 200 day moving average is $24.92. The stock has a market cap of $19.98 billion, a PE ratio of 16.34, a P/E/G ratio of 1.64 and a beta of 0.27.

Coterra Energy (NYSE:CTRA - Get Free Report) last announced its quarterly earnings data on Thursday, October 31st. The company reported $0.32 EPS for the quarter, missing the consensus estimate of $0.35 by ($0.03). The firm had revenue of $1.36 billion for the quarter, compared to analysts' expectations 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 for the quarter was up .2% compared to the same quarter last year. During the same period last year, the company posted $0.47 earnings per share. As a group, equities analysts forecast that Coterra Energy Inc. will post 1.53 earnings per share for the current fiscal year.

Coterra Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, November 27th. Investors of record on Thursday, November 14th were issued a $0.21 dividend. The ex-dividend date was Thursday, November 14th. This represents a $0.84 dividend on an annualized basis and a yield of 3.10%. Coterra Energy's payout ratio is currently 50.60%.

Wall Street Analysts Forecast Growth

CTRA has been the subject of a number of recent analyst reports. Susquehanna upped their price target on Coterra Energy from $30.00 to $33.00 and gave the company a "positive" rating in a research report on Thursday, November 14th. Barclays upped their target price on Coterra Energy from $31.00 to $33.00 and gave the company an "overweight" rating in a report on Thursday, November 14th. Citigroup lifted their price target on shares of Coterra Energy from $28.00 to $32.00 and gave the company a "buy" rating in a 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 research report on Friday, November 15th. Finally, Morgan Stanley boosted their price target on shares of Coterra Energy from $27.00 to $29.00 and gave the company an "equal weight" rating in a research report on Thursday, November 14th. 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. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $32.53.

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.