Range Financial Group LLC Takes $1.27 Million Position in Coterra Energy Inc. (NYSE:CTRA)

Range Financial Group LLC purchased a new stake in Coterra Energy Inc. (NYSE:CTRA - Free Report) during the fourth quarter, according to the company in its most recent filing with the SEC. The firm purchased 49,612 shares of the company's stock, valued at approximately $1,267,000.

Several other institutional investors also recently made changes to their positions in CTRA. Larson Financial Group LLC increased its position 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 acquiring an additional 535 shares in the last quarter. Values First Advisors Inc. acquired a new stake in Coterra Energy in the 3rd quarter valued at $57,000. Tobam purchased a new position in Coterra Energy in the third quarter valued at about $63,000. Capital Performance Advisors LLP acquired a new position in shares of Coterra Energy during the third quarter worth about $67,000. Finally, Bruce G. Allen Investments LLC boosted its position in shares of Coterra Energy by 17.4% in the third quarter. Bruce G. Allen Investments LLC now owns 3,033 shares of the company's stock worth $73,000 after buying an additional 450 shares during the period. 87.92% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

CTRA has been the topic of several analyst reports. Morgan Stanley raised 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. Wells Fargo & Company lifted their price objective on shares of Coterra Energy from $32.00 to $35.00 and gave the company an "overweight" rating in a research note on Friday, November 15th. Piper Sandler decreased their target price on shares of Coterra Energy from $35.00 to $33.00 and set an "overweight" rating for the company in a research note on Tuesday, December 17th. Mizuho lifted their price target on shares of Coterra Energy from $37.00 to $40.00 and gave the stock an "outperform" rating in a research note on Monday, December 16th. Finally, Stephens upped their price objective on shares of Coterra Energy from $28.00 to $29.00 and gave the company an "overweight" rating in a research report on Friday, November 1st. Two analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $32.53.

Coterra Energy Stock Performance

Shares of NYSE:CTRA traded up $0.09 on Tuesday, reaching $26.33. 3,791,359 shares of the company's stock were exchanged, compared to its average volume of 4,772,404. The business's 50-day moving average is $25.30 and its two-hundred day moving average is $24.92. The company has a quick ratio of 1.56, a current ratio of 1.61 and a debt-to-equity ratio of 0.16. Coterra Energy Inc. has a fifty-two week low of $22.30 and a fifty-two week high of $28.90. The firm has a market capitalization of $19.40 billion, a price-to-earnings ratio of 15.86, a PEG ratio of 1.64 and a beta of 0.27.

Coterra Energy (NYSE:CTRA - Get Free Report) last released its quarterly earnings data on Thursday, October 31st. The company reported $0.32 earnings per share for the quarter, missing the consensus estimate of $0.35 by ($0.03). Coterra Energy had a return on equity of 9.38% and a net margin of 21.91%. The business had revenue of $1.36 billion for the quarter, compared to analyst estimates of $1.28 billion. During the same quarter last year, the company earned $0.47 EPS. Coterra Energy's revenue was up .2% compared to the same quarter last year. As a group, equities research analysts forecast that Coterra Energy Inc. will post 1.53 EPS for the current year.

Coterra Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, November 27th. Investors of record on Thursday, November 14th were paid a dividend of $0.21 per share. 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 3.19%. Coterra Energy's payout ratio is currently 50.60%.

Insiders Place Their Bets

In related news, SVP Adam M. Vela sold 16,435 shares of the stock in a transaction that occurred 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 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 position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP Kevin William Smith sold 29,643 shares of Coterra Energy stock in a transaction 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 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 position. The disclosure for this sale can be found here. 1.70% of the stock is owned by corporate insiders.

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.