Empirical Financial Services LLC d.b.a. Empirical Wealth Management Has $1.25 Million Stock Holdings in Coterra Energy Inc. (NYSE:CTRA)

Empirical Financial Services LLC d.b.a. Empirical Wealth Management lifted its holdings in Coterra Energy Inc. (NYSE:CTRA) by 9.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 49,131 shares of the company’s stock after acquiring an additional 4,293 shares during the quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management’s holdings in Coterra Energy were worth $1,254,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of CTRA. Charles Schwab Investment Management Inc. increased its position in Coterra Energy by 1.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 16,080,590 shares of the company’s stock worth $434,980,000 after buying an additional 235,636 shares during the period. Victory Capital Management Inc. increased its stake in shares of Coterra Energy by 3.5% in the 3rd quarter. Victory Capital Management Inc. now owns 15,945,601 shares of the company’s stock valued at $431,329,000 after acquiring an additional 544,768 shares in the last quarter. Invesco Ltd. grew its position in Coterra Energy by 1.5% in the 3rd quarter. Invesco Ltd. now owns 10,723,660 shares of the company’s stock valued at $290,075,000 after purchasing an additional 161,776 shares during the period. Northern Trust Corp boosted its holdings in Coterra Energy by 2.3% during the 3rd quarter. Northern Trust Corp now owns 9,084,114 shares of the company’s stock worth $245,725,000 after acquiring an additional 201,520 shares during the last quarter. Finally, Morgan Stanley boosted its holdings in shares of Coterra Energy by 5.9% in the 3rd quarter. Morgan Stanley now owns 8,421,481 shares of the company’s stock worth $227,801,000 after buying an additional 466,511 shares during the last quarter. Institutional investors own 87.92% of the company’s stock.

Coterra Energy Stock Performance

CTRA traded up $0.28 during midday trading on Wednesday, reaching $28.36. The company had a trading volume of 1,431,970 shares, compared to its average volume of 6,724,047. The company has a market cap of $21.32 billion, a P/E ratio of 16.23 and a beta of 0.22. The company has a quick ratio of 1.18, a current ratio of 0.89 and a debt-to-equity ratio of 0.20. Coterra Energy Inc. has a 1 year low of $22.91 and a 1 year high of $29.89. The business has a 50-day moving average of $27.39 and a two-hundred day moving average of $26.34.

Coterra Energy (NYSE:CTRA) last announced its earnings results on Thursday, February 22nd. The company reported $0.49 EPS for the quarter, missing analysts’ consensus estimates of $0.55 by ($0.06). The firm had revenue of $1.60 billion during the quarter, compared to the consensus estimate of $1.54 billion. Coterra Energy had a return on equity of 10.75% and a net margin of 23.34%. As a group, equities research analysts predict that Coterra Energy Inc. will post 1.82 earnings per share for the current fiscal year.

Coterra Energy Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, May 30th. Investors of record on Thursday, May 16th will be paid a dividend of $0.21 per share. The ex-dividend date of this dividend is Wednesday, May 15th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 2.96%. Coterra Energy’s payout ratio is currently 48.55%.

Insiders Place Their Bets

In other news, CAO Todd M. Roemer sold 55,000 shares of Coterra Energy stock in a transaction dated Wednesday, March 20th. The shares were sold at an average price of $27.06, for a total transaction of $1,488,300.00. Following the completion of the sale, the chief accounting officer now directly owns 176,758 shares in the company, valued at $4,783,071.48. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, VP Michael D. Deshazer sold 14,000 shares of the company’s stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $26.06, for a total value of $364,840.00. Following the transaction, the vice president now owns 93,988 shares in the company, valued at approximately $2,449,327.28. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Todd M. Roemer sold 55,000 shares of Coterra Energy stock in a transaction that occurred on Wednesday, March 20th. The shares were sold at an average price of $27.06, for a total transaction of $1,488,300.00. Following the completion of the sale, the chief accounting officer now owns 176,758 shares of the company’s stock, valued at $4,783,071.48. The disclosure for this sale can be found here. Corporate insiders own 1.70% of the company’s stock.

Wall Street Analyst Weigh In

CTRA has been the subject of a number of recent analyst reports. Stifel Nicolaus decreased their target price on Coterra Energy from $33.00 to $31.00 and set a “buy” rating for the company in a report on Friday, March 22nd. JPMorgan Chase & Co. increased their target price on shares of Coterra Energy from $29.00 to $30.00 and gave the company an “overweight” rating in a research note on Thursday, April 4th. Truist Financial dropped their target price on shares of Coterra Energy from $30.00 to $27.00 and set a “hold” rating on the stock in a report on Friday, April 5th. Morgan Stanley increased their price objective on shares of Coterra Energy from $26.00 to $29.00 and gave the company an “equal weight” rating in a research report on Wednesday, April 17th. Finally, Scotiabank raised their price objective on shares of Coterra Energy from $31.00 to $35.00 and gave the stock a “sector outperform” rating in a research note on Thursday, April 11th. Two equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to data from MarketBeat, Coterra Energy has an average rating of “Moderate Buy” and a consensus target price of $32.73.

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.