Thrivent Financial for Lutherans Reduces Stake in Coterra Energy Inc. (NYSE:CTRA)

Thrivent Financial for Lutherans lowered its holdings in Coterra Energy Inc. (NYSE:CTRA) by 10.6% in the 2nd quarter, according to the company in its most recent filing with the SEC. The firm owned 467,336 shares of the company’s stock after selling 55,377 shares during the quarter. Thrivent Financial for Lutherans owned approximately 0.06% of Coterra Energy worth $12,464,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Fortitude Family Office LLC lifted its stake in shares of Coterra Energy by 154.9% in the 2nd quarter. Fortitude Family Office LLC now owns 933 shares of the company’s stock valued at $25,000 after purchasing an additional 567 shares during the period. Larson Financial Group LLC increased its holdings in shares of Coterra Energy by 98.0% in the 2nd quarter. Larson Financial Group LLC now owns 1,081 shares of the company’s stock worth $29,000 after purchasing an additional 535 shares in the last quarter. Central Pacific Bank Trust Division bought a new stake in shares of Coterra Energy in the 1st quarter worth $44,000. Harbor Investment Advisory LLC increased 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 worth $45,000 after purchasing an additional 1,443 shares in the last quarter. Finally, Northwest Investment Counselors LLC bought a new stake in shares of Coterra Energy in the 1st quarter worth $47,000. Hedge funds and other institutional investors own 87.92% of the company’s stock.

Coterra Energy Stock Down 2.1 %

Shares of CTRA stock opened at $23.27 on Thursday. Coterra Energy Inc. has a 1-year low of $22.30 and a 1-year high of $29.89. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.40 and a quick ratio of 1.38. The company has a market cap of $17.20 billion, a price-to-earnings ratio of 13.45, a price-to-earnings-growth ratio of 1.37 and a beta of 0.22. The stock’s fifty day moving average price is $24.21 and its 200 day moving average price is $26.34.

Coterra Energy (NYSE:CTRA) last posted its quarterly earnings data on Thursday, August 1st. The company reported $0.37 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.39 by ($0.02). Coterra Energy had a net margin of 23.18% and a return on equity of 10.48%. The company had revenue of $1.27 billion for the quarter, compared to analyst estimates of $1.32 billion. During the same quarter last year, the company earned $0.38 EPS. The business’s revenue was up 7.3% compared to the same quarter last year. On average, research analysts expect that Coterra Energy Inc. will post 1.74 earnings per share for the current fiscal year.

Coterra Energy Announces Dividend

The company 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. The ex-dividend date of this dividend was Thursday, August 15th. This represents a $0.84 dividend on an annualized basis and a yield of 3.61%. Coterra Energy’s payout ratio is currently 48.55%.

Analysts Set New Price Targets

Several analysts recently commented on the company. Truist Financial cut their price objective on Coterra Energy from $35.00 to $34.00 and set a “buy” rating for the company in a report on Monday, July 22nd. BMO Capital Markets raised Coterra Energy to a “hold” rating in a report on Wednesday, July 3rd. JPMorgan Chase & Co. cut their price target on Coterra Energy from $31.00 to $26.00 and set an “overweight” rating for the company in a report on Thursday, September 12th. UBS Group cut their price target on Coterra Energy from $34.00 to $31.00 and set a “buy” rating for the company in a report on Wednesday, September 18th. Finally, Wolfe Research began coverage on Coterra Energy in a report on Thursday, July 18th. They set an “outperform” rating and a $35.00 price target for the company. Two investment analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $32.59.

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.