Verity Asset Management Inc. Buys 778 Shares of Coterra Energy Inc. (NYSE:CTRA)

Verity Asset Management Inc. increased its stake in Coterra Energy Inc. (NYSE:CTRA) by 1.5% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 53,273 shares of the company’s stock after purchasing an additional 778 shares during the period. Verity Asset Management Inc.’s holdings in Coterra Energy were worth $1,276,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Fortitude Family Office LLC raised its position in shares of Coterra Energy by 154.9% during the 2nd quarter. Fortitude Family Office LLC now owns 933 shares of the company’s stock valued at $25,000 after acquiring an additional 567 shares during the last quarter. Larson Financial Group LLC raised its position in shares of Coterra Energy by 98.0% during the 2nd quarter. Larson Financial Group LLC now owns 1,081 shares of the company’s stock valued at $29,000 after acquiring an additional 535 shares during the last quarter. Central Pacific Bank Trust Division bought a new stake in shares of Coterra Energy during the 1st quarter valued at $44,000. Values First Advisors Inc. bought a new stake in shares of Coterra Energy during the 3rd quarter valued at $57,000. Finally, Tobam bought a new stake in shares of Coterra Energy during the 3rd quarter valued at $63,000. Institutional investors own 87.92% of the company’s stock.

Coterra Energy Trading Down 0.6 %

Coterra Energy stock opened at $24.41 on Friday. Coterra Energy Inc. has a 52 week low of $22.30 and a 52 week high of $28.90. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.38 and a current ratio of 1.61. The stock has a market capitalization of $17.98 billion, a P/E ratio of 14.70, a PEG ratio of 1.42 and a beta of 0.22. The stock has a 50-day simple moving average of $23.76 and a 200 day simple moving average of $25.60.

Coterra Energy (NYSE:CTRA) last posted its quarterly earnings results on Thursday, October 31st. The company reported $0.32 EPS for the quarter, missing analysts’ consensus estimates 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 the consensus estimate of $1.28 billion. During the same quarter in the previous year, the business posted $0.47 EPS. The company’s revenue for the quarter was up .2% on a year-over-year basis. Analysts expect that Coterra Energy Inc. will post 1.62 earnings per share for the current year.

Coterra Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 27th. Investors of record on Thursday, November 14th will be issued a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a yield of 3.44%. The ex-dividend date of this dividend is Thursday, November 14th. Coterra Energy’s payout ratio is currently 50.60%.

Analyst Upgrades and Downgrades

CTRA has been the subject of several recent research reports. UBS Group dropped their target price on shares of Coterra Energy from $34.00 to $31.00 and set a “buy” rating for the company in a research report on Wednesday, September 18th. Truist Financial lowered their price objective on shares of Coterra Energy from $34.00 to $31.00 and set a “buy” rating for the company in a research report on Monday, September 30th. Roth Mkm upgraded shares of Coterra Energy from a “neutral” rating to a “buy” rating and upped their price objective for the company from $25.00 to $29.00 in a research report on Tuesday, August 27th. Scotiabank lowered their price objective on shares of Coterra Energy from $35.00 to $32.00 and set a “sector outperform” rating for the company in a research report on Thursday, October 10th. Finally, Roth Capital upgraded shares of Coterra Energy from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, August 27th. Two 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 company. According to data from MarketBeat.com, Coterra Energy presently has a consensus rating of “Moderate Buy” and a consensus price target of $31.29.

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.