Schechter Investment Advisors LLC Takes $205,000 Position in Coterra Energy Inc. (NYSE:CTRA)

Posted by Defense World Staff on Jun 11th, 2023

Schechter Investment Advisors LLC bought a new stake in Coterra Energy Inc. (NYSE:CTRA – Get Rating) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 8,358 shares of the company’s stock, valued at approximately $205,000.

Other large investors also recently made changes to their positions in the company. Adirondack Trust Co. acquired a new position in shares of Coterra Energy in the 4th quarter valued at about $25,000. Red Tortoise LLC acquired a new position in Coterra Energy in the fourth quarter worth approximately $25,000. Accurate Wealth Management LLC acquired a new position in Coterra Energy in the fourth quarter worth approximately $28,000. Guardian Wealth Advisors LLC acquired a new position in Coterra Energy in the third quarter worth approximately $30,000. Finally, Accel Wealth Management acquired a new position in Coterra Energy in the fourth quarter worth approximately $30,000. Institutional investors and hedge funds own 94.72% of the company’s stock.

Insiders Place Their Bets

In other Coterra Energy news, VP Michael D. Deshazer sold 20,824 shares of the stock in a transaction on Tuesday, March 21st. The stock was sold at an average price of $24.10, for a total transaction of $501,858.40. Following the completion of the transaction, the vice president now directly owns 77,406 shares in the company, valued at $1,865,484.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 1.70% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on CTRA shares. Stifel Nicolaus dropped their price objective on Coterra Energy from $38.00 to $35.00 and set a “buy” rating on the stock in a report on Wednesday, April 12th. The Goldman Sachs Group increased their price objective on Coterra Energy from $27.00 to $30.00 and gave the stock a “buy” rating in a report on Friday, March 10th. Roth Capital reaffirmed a “neutral” rating on shares of Coterra Energy in a research report on Wednesday, February 22nd. Morgan Stanley upped their target price on Coterra Energy from $26.00 to $27.00 in a research report on Monday, May 15th. Finally, UBS Group started coverage on Coterra Energy in a research report on Wednesday, April 19th. They set a “neutral” rating and a $27.00 target price for the company. Sixteen investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $30.25.

Coterra Energy Stock Up 0.1 %

Shares of CTRA stock opened at $24.57 on Friday. The stock has a market cap of $18.61 billion, a P/E ratio of 4.69, a price-to-earnings-growth ratio of 0.18 and a beta of 0.26. Coterra Energy Inc. has a one year low of $22.25 and a one year high of $35.13. The stock has a fifty day moving average price of $24.95 and a 200 day moving average price of $24.92. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.66 and a quick ratio of 1.61.

Coterra Energy (NYSE:CTRA – Get Rating) last issued its earnings results on Thursday, May 4th. The company reported $0.85 EPS for the quarter, topping the consensus estimate of $0.69 by $0.16. The firm had revenue of $1.78 billion during the quarter, compared to analysts’ expectations of $1.62 billion. Coterra Energy had a return on equity of 29.48% and a net margin of 45.19%. Analysts predict that Coterra Energy Inc. will post 2.53 earnings per share for the current year.

Coterra Energy Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 9th. Shareholders of record on Friday, May 26th were paid a dividend of $0.20 per share. The ex-dividend date of this dividend was Thursday, May 25th. This represents a $0.80 annualized dividend and a yield of 3.26%. Coterra Energy’s dividend payout ratio is currently 15.27%.

About Coterra Energy

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Coterra Energy Inc is a diversified energy company, which engages in the exploration, development, and production of oil and natural gas properties. Its portfolio includes projects in the Permian Basin, the Marcellus Shale, and the Anadarko Basin. The company was renamed to Coterra Energy Inc on October 1, 2021 in connection with the merger involving Cabot Oil & Gas Corp.