Johnson Investment Counsel Inc. Lowers Stock Holdings in Coterra Energy Inc. (NYSE:CTRA)

Johnson Investment Counsel Inc. reduced its position in shares of Coterra Energy Inc. (NYSE:CTRA) by 47.2% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 13,147 shares of the company’s stock after selling 11,742 shares during the period. Johnson Investment Counsel Inc.’s holdings in Coterra Energy were worth $351,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. Fifth Third Bancorp raised its stake in shares of Coterra Energy by 0.6% in the second quarter. Fifth Third Bancorp now owns 71,138 shares of the company’s stock valued at $1,897,000 after acquiring an additional 399 shares in the last quarter. TCW Group Inc. raised its stake in shares of Coterra Energy by 4.0% in the second quarter. TCW Group Inc. now owns 10,447 shares of the company’s stock valued at $279,000 after acquiring an additional 404 shares in the last quarter. Redwood Wealth Management Group LLC raised its stake in shares of Coterra Energy by 2.3% in the first quarter. Redwood Wealth Management Group LLC now owns 18,974 shares of the company’s stock valued at $529,000 after acquiring an additional 429 shares in the last quarter. Cornercap Investment Counsel Inc. raised its stake in shares of Coterra Energy by 0.7% in the second quarter. Cornercap Investment Counsel Inc. now owns 66,280 shares of the company’s stock valued at $1,768,000 after acquiring an additional 436 shares in the last quarter. Finally, Quent Capital LLC raised its stake in shares of Coterra Energy by 8.1% in the first quarter. Quent Capital LLC now owns 5,923 shares of the company’s stock valued at $165,000 after acquiring an additional 445 shares in the last quarter. 87.92% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages have recently issued reports on CTRA. Citigroup increased their price objective on Coterra Energy from $30.00 to $31.00 and gave the company a “buy” rating in a research note on Friday, May 24th. Wolfe Research started coverage on Coterra Energy in a research note on Thursday, July 18th. They issued an “outperform” rating and a $35.00 price target on the stock. Roth Capital upgraded Coterra Energy from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, August 27th. Truist Financial cut their price target on Coterra Energy from $35.00 to $34.00 and set a “buy” rating on the stock in a research note on Monday, July 22nd. Finally, UBS Group cut their price target on Coterra Energy from $36.00 to $34.00 and set a “buy” rating on the stock in a research note on Thursday, August 8th. Two investment analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $32.88.

Coterra Energy Stock Performance

NYSE CTRA opened at $22.78 on Friday. The company has a quick ratio of 1.38, a current ratio of 1.40 and a debt-to-equity ratio of 0.16. Coterra Energy Inc. has a 52-week low of $22.30 and a 52-week high of $29.89. The business’s 50-day moving average price is $24.77 and its 200 day moving average price is $26.49. The firm has a market cap of $16.95 billion, a P/E ratio of 13.17, a P/E/G ratio of 1.16 and a beta of 0.22.

Coterra Energy (NYSE:CTRA) last released its quarterly earnings results on Thursday, August 1st. The company reported $0.37 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.02). Coterra Energy had a return on equity of 10.48% and a net margin of 23.18%. The company had revenue of $1.27 billion for the quarter, compared to analysts’ expectations of $1.32 billion. During the same period in the prior year, the business earned $0.38 EPS. The business’s quarterly revenue was up 7.3% compared to the same quarter last year. On average, equities research analysts expect that Coterra Energy Inc. will post 1.95 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 29th. Shareholders of record on Thursday, August 15th were issued a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a yield of 3.69%. The ex-dividend date was Thursday, August 15th. Coterra Energy’s dividend payout ratio is presently 48.55%.

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'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.