JPMorgan Chase & Co. lifted its position in Coterra Energy Inc. (NYSE:CTRA – Free Report) by 4.2% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 11,734,288 shares of the company’s stock after purchasing an additional 467,953 shares during the quarter. JPMorgan Chase & Co. owned about 1.55% of Coterra Energy worth $296,878,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. ICA Group Wealth Management LLC purchased a new stake in shares of Coterra Energy in the 4th quarter valued at approximately $25,000. Ameritas Advisory Services LLC acquired a new position in Coterra Energy in the first quarter valued at approximately $30,000. Gradient Investments LLC lifted its holdings in Coterra Energy by 1,976.2% in the second quarter. Gradient Investments LLC now owns 1,308 shares of the company’s stock valued at $33,000 after acquiring an additional 1,245 shares during the last quarter. Beacon Capital Management LLC grew its position in Coterra Energy by 302.5% in the second quarter. Beacon Capital Management LLC now owns 1,441 shares of the company’s stock worth $36,000 after acquiring an additional 1,083 shares during the period. Finally, Ceredex Value Advisors LLC acquired a new stake in Coterra Energy during the second quarter worth $38,000. 90.54% of the stock is currently owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
Several brokerages have recently commented on CTRA. Truist Financial upped their price target on Coterra Energy from $29.00 to $30.00 and gave the company a “hold” rating in a research note on Wednesday, November 8th. Stephens reiterated an “overweight” rating and set a $32.00 price target on shares of Coterra Energy in a research report on Tuesday, August 8th. Bank of America upped their price objective on shares of Coterra Energy from $32.00 to $34.00 in a report on Wednesday, September 27th. Citigroup lifted their target price on shares of Coterra Energy from $26.00 to $27.00 and gave the company a “neutral” rating in a report on Wednesday, September 20th. Finally, Morgan Stanley raised their price target on Coterra Energy from $26.00 to $27.00 and gave the stock an “equal weight” rating in a research report on Friday, August 18th. Eleven investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $31.93.
View Our Latest Analysis on CTRA
Insider Transactions at Coterra Energy
In other Coterra Energy news, Director Dan O. Dinges sold 400,000 shares of the stock in a transaction that occurred on Monday, September 25th. The shares were sold at an average price of $26.60, for a total value of $10,640,000.00. Following the transaction, the director now directly owns 3,302,392 shares in the company, valued at $87,843,627.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, Director Dan O. Dinges sold 400,000 shares of the business’s stock in a transaction on Monday, September 25th. The shares were sold at an average price of $26.60, for a total value of $10,640,000.00. Following the completion of the sale, the director now directly owns 3,302,392 shares of the company’s stock, valued at $87,843,627.20. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Dan O. Dinges sold 68,275 shares of the firm’s stock in a transaction dated Wednesday, September 27th. The stock was sold at an average price of $27.22, for a total value of $1,858,445.50. Following the transaction, the director now directly owns 3,152,392 shares in the company, valued at approximately $85,808,110.24. The disclosure for this sale can be found here. Corporate insiders own 1.70% of the company’s stock.
Coterra Energy Trading Up 0.4 %
Shares of NYSE:CTRA opened at $26.77 on Friday. Coterra Energy Inc. has a 52 week low of $22.25 and a 52 week high of $29.89. The company’s 50 day moving average is $27.44 and its two-hundred day moving average is $26.63. The company has a market cap of $20.14 billion, a PE ratio of 9.20, a P/E/G ratio of 0.22 and a beta of 0.34. The company has a current ratio of 1.04, a quick ratio of 1.01 and a debt-to-equity ratio of 0.12.
Coterra Energy Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, November 30th. Stockholders of record on Thursday, November 16th will be issued a $0.20 dividend. The ex-dividend date of this dividend is Wednesday, November 15th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.99%. Coterra Energy’s payout ratio is currently 27.49%.
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 primarily focuses on the Marcellus Shale with approximately 183,000 net acres in the dry gas window of the play located in Susquehanna County, Pennsylvania.
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