Brookstone Capital Management Sells 35,194 Shares of Coterra Energy Inc. (NYSE:CTRA)

Brookstone Capital Management trimmed its holdings in Coterra Energy Inc. (NYSE:CTRA) by 79.4% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 9,108 shares of the company’s stock after selling 35,194 shares during the quarter. Brookstone Capital Management’s holdings in Coterra Energy were worth $254,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its holdings in Coterra Energy by 0.5% during the 4th quarter. Vanguard Group Inc. now owns 87,927,114 shares of the company’s stock worth $2,243,900,000 after purchasing an additional 407,244 shares during the last quarter. Dimensional Fund Advisors LP grew its position in shares of Coterra Energy by 8.8% during the 4th quarter. Dimensional Fund Advisors LP now owns 10,465,383 shares of the company’s stock worth $267,089,000 after buying an additional 848,519 shares during the period. Morgan Stanley grew its position in shares of Coterra Energy by 5.9% during the 3rd quarter. Morgan Stanley now owns 8,421,481 shares of the company’s stock worth $227,801,000 after buying an additional 466,511 shares during the period. Schroder Investment Management Group grew its position in shares of Coterra Energy by 8.7% during the 4th quarter. Schroder Investment Management Group now owns 7,815,648 shares of the company’s stock worth $199,455,000 after buying an additional 628,132 shares during the period. Finally, Royal Bank of Canada grew its position in shares of Coterra Energy by 9.8% during the 3rd quarter. Royal Bank of Canada now owns 3,336,830 shares of the company’s stock worth $90,261,000 after buying an additional 296,676 shares during the period. 87.92% of the stock is owned by institutional investors.

Coterra Energy Trading Up 0.9 %

NYSE:CTRA opened at $26.78 on Wednesday. Coterra Energy Inc. has a twelve month low of $23.73 and a twelve month high of $29.89. The company has a quick ratio of 1.46, a current ratio of 1.49 and a debt-to-equity ratio of 0.16. The business has a 50 day moving average price of $27.60 and a two-hundred day moving average price of $26.61. The company has a market cap of $19.93 billion, a P/E ratio of 15.48, a price-to-earnings-growth ratio of 1.24 and a beta of 0.24.

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 analysts’ consensus estimates of $0.41 by $0.09. Coterra Energy had a return on equity of 10.75% and a net margin of 23.34%. The company had revenue of $1.43 billion for the quarter, compared to analysts’ expectations of $1.38 billion. As a group, analysts expect that Coterra Energy Inc. will post 2 EPS for the current fiscal year.

Coterra Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 30th. Investors of record on Thursday, May 16th were paid a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a yield of 3.14%. The ex-dividend date was Wednesday, May 15th. Coterra Energy’s dividend payout ratio (DPR) is presently 48.55%.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on CTRA. Barclays began coverage on Coterra Energy in a research report on Wednesday, April 10th. They set an “overweight” rating and a $36.00 target price for the company. Truist Financial upgraded Coterra Energy from a “hold” rating to a “buy” rating and boosted their target price for the stock from $27.00 to $35.00 in a research report on Thursday, May 16th. Morgan Stanley boosted their target price on Coterra Energy from $26.00 to $29.00 and gave the stock an “equal weight” rating in a research report on Wednesday, April 17th. Bank of America reiterated a “buy” rating and issued a $34.00 price objective on shares of Coterra Energy in a research report on Friday, June 14th. Finally, JPMorgan Chase & Co. boosted their price objective on Coterra Energy from $29.00 to $30.00 and gave the company an “overweight” rating in a research report on Thursday, April 4th. One research analyst has rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat, Coterra Energy has a consensus rating of “Moderate Buy” and an average target price of $33.93.

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.