Coterra Energy Inc. (NYSE:CTRA) Shares Sold by Salem Investment Counselors Inc.

Salem Investment Counselors Inc. cut its holdings in shares of Coterra Energy Inc. (NYSE:CTRA) by 19.0% in the 1st quarter, Holdings Channel reports. The fund owned 2,624 shares of the company’s stock after selling 616 shares during the period. Salem Investment Counselors Inc.’s holdings in Coterra Energy were worth $73,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Stone House Investment Management LLC grew its stake in Coterra Energy by 32.4% in the fourth quarter. Stone House Investment Management LLC now owns 1,791 shares of the company’s stock worth $46,000 after purchasing an additional 438 shares in the last quarter. Financial Advisors Network Inc. lifted its holdings in Coterra Energy by 3.6% in the fourth quarter. Financial Advisors Network Inc. now owns 14,575 shares of the company’s stock worth $372,000 after acquiring an additional 501 shares during the last quarter. Trust Co. of Vermont lifted its holdings in Coterra Energy by 1.9% in the third quarter. Trust Co. of Vermont now owns 26,314 shares of the company’s stock worth $712,000 after acquiring an additional 503 shares during the last quarter. Cascade Investment Advisors Inc. lifted its holdings in Coterra Energy by 1.1% in the fourth quarter. Cascade Investment Advisors Inc. now owns 51,140 shares of the company’s stock worth $1,305,000 after acquiring an additional 535 shares during the last quarter. Finally, SevenBridge Financial Group LLC lifted its holdings in Coterra Energy by 5.0% in the fourth quarter. SevenBridge Financial Group LLC now owns 11,353 shares of the company’s stock worth $290,000 after acquiring an additional 543 shares during the last quarter. 87.92% of the stock is currently owned by institutional investors and hedge funds.

Coterra Energy Price Performance

NYSE CTRA opened at $26.62 on Monday. Coterra Energy Inc. has a 12 month low of $23.60 and a 12 month high of $29.89. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.49 and a quick ratio of 1.46. The firm has a market capitalization of $19.81 billion, a PE ratio of 15.39, a P/E/G ratio of 1.25 and a beta of 0.21. The company’s 50 day simple moving average is $27.66 and its 200 day simple moving average is $26.50.

Coterra Energy (NYSE:CTRA) last posted its quarterly earnings results on Thursday, May 2nd. The company reported $0.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.41 by $0.09. The firm had revenue of $1.43 billion for the quarter, compared to analyst estimates of $1.38 billion. Coterra Energy had a net margin of 23.34% and a return on equity of 10.75%. As a group, equities research analysts forecast that Coterra Energy Inc. will post 2 EPS for the current fiscal year.

Coterra Energy Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 30th. Shareholders of record on Thursday, May 16th were given a $0.21 dividend. The ex-dividend date of this dividend was Wednesday, May 15th. This represents a $0.84 annualized dividend and a yield of 3.16%. Coterra Energy’s dividend payout ratio (DPR) is 48.55%.

Analyst Ratings Changes

A number of equities analysts have issued reports on the stock. Mizuho raised their target price on shares of Coterra Energy from $37.00 to $41.00 and gave the stock a “buy” rating in a report on Monday, May 13th. Stifel Nicolaus cut their target price on shares of Coterra Energy from $33.00 to $31.00 and set a “buy” rating on the stock in a report on Friday, March 22nd. UBS Group lifted their price target on Coterra Energy from $31.00 to $32.00 and gave the company a “buy” rating in a report on Friday, March 1st. Barclays began coverage on Coterra Energy in a report on Wednesday, April 10th. They set an “overweight” rating and a $36.00 price target on the stock. Finally, Truist Financial raised Coterra Energy from a “hold” rating to a “buy” rating and lifted their price target for the company from $27.00 to $35.00 in a report on Thursday, May 16th. One analyst has rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat, Coterra Energy currently has an average rating of “Moderate Buy” and an average target price of $33.93.

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.