Hennion & Walsh Asset Management Inc. Sells 17,321 Shares of Coterra Energy Inc. (NYSE:CTRA)

Hennion & Walsh Asset Management Inc. decreased its position in Coterra Energy Inc. (NYSE:CTRA) by 22.1% during the first quarter, HoldingsChannel.com reports. The fund owned 60,924 shares of the company’s stock after selling 17,321 shares during the quarter. Hennion & Walsh Asset Management Inc.’s holdings in Coterra Energy were worth $1,699,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Wetzel Investment Advisors Inc. bought a new stake in Coterra Energy in the fourth quarter worth $33,000. Tennessee Valley Asset Management Partners bought a new stake in shares of Coterra Energy in the 4th quarter worth about $33,000. VisionPoint Advisory Group LLC raised its position in shares of Coterra Energy by 133.3% during the 3rd quarter. VisionPoint Advisory Group LLC now owns 1,295 shares of the company’s stock valued at $35,000 after buying an additional 740 shares in the last quarter. Headlands Technologies LLC raised its position in shares of Coterra Energy by 397.7% during the 4th quarter. Headlands Technologies LLC now owns 1,742 shares of the company’s stock valued at $44,000 after buying an additional 1,392 shares in the last quarter. Finally, Harbor Investment Advisory LLC lifted its holdings in shares of Coterra Energy by 869.3% in the 1st quarter. Harbor Investment Advisory LLC now owns 1,609 shares of the company’s stock valued at $45,000 after acquiring an additional 1,443 shares during the last quarter. 87.92% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

CTRA has been the topic of a number of recent research reports. Scotiabank upped their price objective on Coterra Energy from $31.00 to $35.00 and gave the company a “sector outperform” rating in a research report on Thursday, April 11th. Bank of America restated a “buy” rating and set a $34.00 price target on shares of Coterra Energy in a report on Friday, June 14th. JPMorgan Chase & Co. lifted their price objective on shares of Coterra Energy from $29.00 to $30.00 and gave the stock an “overweight” rating in a research note on Thursday, April 4th. Morgan Stanley increased their target price on shares of Coterra Energy from $26.00 to $29.00 and gave the company an “equal weight” rating in a research note on Wednesday, April 17th. Finally, Piper Sandler lifted their price target on shares of Coterra Energy from $37.00 to $39.00 and gave the stock an “overweight” rating in a research note on Tuesday, May 14th. One research analyst has rated the stock with a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $33.93.

Coterra Energy Stock Performance

Shares of NYSE:CTRA opened at $26.67 on Friday. The firm’s 50 day simple moving average is $27.65 and its 200-day simple moving average is $26.57. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.46 and a current ratio of 1.49. Coterra Energy Inc. has a one year low of $23.73 and a one year high of $29.89. The firm has a market cap of $19.85 billion, a PE ratio of 15.42, a price-to-earnings-growth ratio of 1.24 and a beta of 0.21.

Coterra Energy (NYSE:CTRA) last announced its quarterly earnings data 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 company had revenue of $1.43 billion for the quarter, compared to analysts’ expectations of $1.38 billion. Coterra Energy had a return on equity of 10.75% and a net margin of 23.34%. As a group, equities analysts predict that Coterra Energy Inc. will post 2 EPS for the current year.

Coterra Energy Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, May 30th. Stockholders of record on Thursday, May 16th were paid a dividend of $0.21 per share. The ex-dividend date was Wednesday, May 15th. This represents a $0.84 annualized dividend and a dividend yield of 3.15%. Coterra Energy’s dividend payout ratio is currently 48.55%.

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.