Pacer Advisors Inc. Lowers Position in Coterra Energy Inc. (NYSE:CTRA)

Pacer Advisors Inc. reduced its stake in Coterra Energy Inc. (NYSE:CTRA) by 99.4% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 53,699 shares of the company’s stock after selling 8,584,263 shares during the period. Pacer Advisors Inc.’s holdings in Coterra Energy were worth $1,432,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of the stock. AE Wealth Management LLC raised its stake in shares of Coterra Energy by 36.1% in the 2nd quarter. AE Wealth Management LLC now owns 11,481 shares of the company’s stock valued at $306,000 after acquiring an additional 3,046 shares during the period. King Luther Capital Management Corp increased its holdings in Coterra Energy by 4.4% in the 2nd quarter. King Luther Capital Management Corp now owns 6,783,690 shares of the company’s stock valued at $180,921,000 after purchasing an additional 285,774 shares during the last quarter. Benjamin F. Edwards & Company Inc. raised its position in Coterra Energy by 12.7% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 88,734 shares of the company’s stock valued at $2,366,000 after purchasing an additional 10,000 shares during the period. Ieq Capital LLC lifted its stake in Coterra Energy by 1.2% during the second quarter. Ieq Capital LLC now owns 213,213 shares of the company’s stock worth $5,686,000 after purchasing an additional 2,451 shares in the last quarter. Finally, Intech Investment Management LLC boosted its position in shares of Coterra Energy by 189.7% during the second quarter. Intech Investment Management LLC now owns 160,497 shares of the company’s stock worth $4,280,000 after buying an additional 105,095 shares during the period. Institutional investors and hedge funds own 87.92% of the company’s stock.

Coterra Energy Price Performance

Shares of NYSE CTRA opened at $23.06 on Friday. The stock’s 50-day simple moving average is $24.13 and its 200-day simple moving average is $26.32. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.38 and a current ratio of 1.40. The firm has a market capitalization of $17.04 billion, a PE ratio of 13.33, a price-to-earnings-growth ratio of 1.37 and a beta of 0.22. Coterra Energy Inc. has a fifty-two week low of $22.30 and a fifty-two week high of $29.89.

Coterra Energy (NYSE:CTRA) last issued its quarterly earnings data on Thursday, August 1st. The company reported $0.37 earnings per share for the quarter, missing the consensus estimate 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 quarter in the prior year, the firm posted $0.38 EPS. The firm’s quarterly revenue was up 7.3% compared to the same quarter last year. As a group, equities research analysts forecast that Coterra Energy Inc. will post 1.74 EPS for the current fiscal year.

Coterra Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 29th. Shareholders of record on Thursday, August 15th were paid a $0.21 dividend. The ex-dividend date was Thursday, August 15th. This represents a $0.84 annualized dividend and a yield of 3.64%. Coterra Energy’s dividend payout ratio is presently 48.55%.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on CTRA. Morgan Stanley cut their price objective on Coterra Energy from $29.00 to $27.00 and set an “equal weight” rating on the stock in a report on Monday, September 16th. Wolfe Research initiated coverage on shares of Coterra Energy in a research note on Thursday, July 18th. They set an “outperform” rating and a $35.00 price target on the stock. Roth Mkm raised shares of Coterra Energy from a “neutral” rating to a “buy” rating and raised their price objective for the company from $25.00 to $29.00 in a research note on Tuesday, August 27th. BMO Capital Markets raised shares of Coterra Energy to a “hold” rating in a research note on Wednesday, July 3rd. Finally, UBS Group decreased their price target on shares of Coterra Energy from $34.00 to $31.00 and set a “buy” rating for the company in a research report on Wednesday, September 18th. Two research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $32.59.

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.