Meridian Wealth Management LLC Acquires Shares of 18,572 Coterra Energy Inc. (NYSE:CTRA)

Meridian Wealth Management LLC acquired a new stake in Coterra Energy Inc. (NYSE:CTRA) during the 3rd quarter, HoldingsChannel.com reports. The institutional investor acquired 18,572 shares of the company’s stock, valued at approximately $445,000.

Several other institutional investors and hedge funds have also recently modified their holdings of CTRA. Charles Schwab Investment Management Inc. grew its stake in shares of Coterra Energy by 1.4% in the third quarter. Charles Schwab Investment Management Inc. now owns 22,156,361 shares of the company’s stock valued at $530,645,000 after acquiring an additional 305,626 shares in the last quarter. Raymond James & Associates grew its stake in shares of Coterra Energy by 5.0% in the second quarter. Raymond James & Associates now owns 1,187,663 shares of the company’s stock valued at $31,675,000 after acquiring an additional 56,748 shares in the last quarter. MQS Management LLC acquired a new position in shares of Coterra Energy in the third quarter valued at about $776,000. Disciplined Growth Investors Inc. MN grew its stake in shares of Coterra Energy by 1.0% in the second quarter. Disciplined Growth Investors Inc. MN now owns 5,063,920 shares of the company’s stock valued at $135,055,000 after acquiring an additional 51,249 shares in the last quarter. Finally, National Pension Service grew its stake in shares of Coterra Energy by 14.0% in the third quarter. National Pension Service now owns 1,335,880 shares of the company’s stock valued at $31,994,000 after acquiring an additional 164,048 shares in the last quarter. 87.92% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts recently commented on CTRA shares. Piper Sandler upped their price target on shares of Coterra Energy from $32.00 to $35.00 and gave the company an “overweight” rating in a research note on Thursday, November 14th. Truist Financial upped their price target on shares of Coterra Energy from $31.00 to $33.00 and gave the company a “buy” rating in a research note on Thursday, November 14th. Barclays upped their price objective on shares of Coterra Energy from $31.00 to $33.00 and gave the stock an “overweight” rating in a research report on Thursday, November 14th. Morgan Stanley upped their price objective on shares of Coterra Energy from $27.00 to $29.00 and gave the stock an “equal weight” rating in a research report on Thursday, November 14th. Finally, Susquehanna upped their price objective on shares of Coterra Energy from $30.00 to $33.00 and gave the stock a “positive” rating in a research report on Thursday, November 14th. Two research 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. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $32.41.

Coterra Energy Stock Up 0.7 %

CTRA stock opened at $27.63 on Monday. The firm has a 50-day moving average price of $24.36 and a 200-day moving average price of $25.43. The stock has a market capitalization of $20.35 billion, a P/E ratio of 16.64, a price-to-earnings-growth ratio of 1.78 and a beta of 0.22. Coterra Energy Inc. has a 12 month low of $22.30 and a 12 month high of $28.90. The company has a current ratio of 1.61, a quick ratio of 1.56 and a debt-to-equity ratio of 0.16.

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

Coterra Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 27th. Investors of record on Thursday, November 14th will be issued a $0.21 dividend. The ex-dividend date of this dividend is Thursday, November 14th. This represents a $0.84 dividend on an annualized basis and a yield of 3.04%. Coterra Energy’s dividend payout ratio (DPR) is presently 50.60%.

Insider Activity at Coterra Energy

In other Coterra Energy news, 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 completion of the sale, the senior vice president now owns 72,409 shares of the company’s stock, valued at approximately $1,937,664.84. This represents a 18.50 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 1.70% of the stock is owned by company 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.