Creative Planning decreased its position in shares of Coterra Energy Inc. (NYSE:CTRA – Free Report) by 4.2% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 53,211 shares of the company’s stock after selling 2,347 shares during the period. Creative Planning’s holdings in Coterra Energy were worth $1,346,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds also recently added to or reduced their stakes in CTRA. ICA Group Wealth Management LLC bought a new stake in shares of Coterra Energy during the fourth quarter valued at approximately $25,000. Bogart Wealth LLC bought a new stake in shares of Coterra Energy during the first quarter valued at approximately $26,000. Stone House Investment Management LLC bought a new stake in shares of Coterra Energy during the first quarter valued at approximately $27,000. Ameritas Advisory Services LLC bought a new stake in shares of Coterra Energy during the first quarter valued at approximately $30,000. Finally, Gradient Investments LLC raised its position in shares of Coterra Energy by 1,976.2% during the second quarter. Gradient Investments LLC now owns 1,308 shares of the company’s stock valued at $33,000 after buying an additional 1,245 shares during the last quarter. Institutional investors own 90.54% of the company’s stock.
Insider Buying and Selling
In related news, Director Dan O. Dinges sold 400,000 shares of the company’s stock in a transaction dated 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 transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other Coterra Energy news, Director Dan O. Dinges sold 68,275 shares of the business’s stock in a transaction dated Wednesday, September 27th. The shares were sold at an average price of $27.22, for a total value of $1,858,445.50. Following the completion of the transaction, the director now directly owns 3,152,392 shares in the company, valued at $85,808,110.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Dan O. Dinges sold 400,000 shares of the business’s stock in a transaction dated Monday, September 25th. The stock was sold at an average price of $26.60, for a total transaction of $10,640,000.00. Following the completion of the transaction, the director now owns 3,302,392 shares of the company’s stock, valued at $87,843,627.20. The disclosure for this sale can be found here. 1.70% of the stock is owned by insiders.
Coterra Energy Stock Up 1.9 %
Coterra Energy (NYSE:CTRA – Get Free Report) last issued its earnings results on Monday, August 7th. The company reported $0.38 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.36 by $0.02. The firm had revenue of $1.19 billion during the quarter, compared to analyst estimates of $1.28 billion. Coterra Energy had a net margin of 40.12% and a return on equity of 23.06%. Equities research analysts expect that Coterra Energy Inc. will post 2.22 earnings per share for the current year.
Coterra Energy Dividend Announcement
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 31st. Investors of record on Thursday, August 17th were paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 2.75%. The ex-dividend date was Wednesday, August 16th. Coterra Energy’s dividend payout ratio (DPR) is presently 20.05%.
Wall Street Analysts Forecast Growth
Several research firms have recently issued reports on CTRA. Truist Financial reduced their price objective on shares of Coterra Energy from $29.00 to $26.00 and set a “hold” rating on the stock in a research report on Monday, July 24th. UBS Group boosted their price target on shares of Coterra Energy from $25.00 to $33.00 and gave the stock a “neutral” rating in a research report on Thursday, August 17th. Stifel Nicolaus boosted their price target on shares of Coterra Energy from $35.00 to $36.00 and gave the stock a “buy” rating in a research report on Friday, August 18th. Stephens restated an “overweight” rating and issued a $32.00 price target on shares of Coterra Energy in a research report on Tuesday, August 8th. Finally, Mizuho restated a “buy” rating and issued a $42.00 price target on shares of Coterra Energy in a research report on Tuesday, September 19th. Thirteen investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $31.47.
Read Our Latest Analysis on CTRA
About Coterra Energy
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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