Coterra Energy Inc. (NYSE:CTRA) Shares Sold by Park Avenue Securities LLC

Park Avenue Securities LLC decreased its holdings in Coterra Energy Inc. (NYSE:CTRA) by 29.8% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 26,153 shares of the company’s stock after selling 11,077 shares during the quarter. Park Avenue Securities LLC’s holdings in Coterra Energy were worth $626,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in the business. Cohen & Steers Inc. grew its holdings in Coterra Energy by 37.1% during the 4th quarter. Cohen & Steers Inc. now owns 110,814 shares of the company’s stock valued at $2,828,000 after purchasing an additional 30,002 shares in the last quarter. Bridgefront Capital LLC bought a new position in Coterra Energy during the fourth quarter worth $399,000. DRW Securities LLC boosted its holdings in Coterra Energy by 53.1% in the fourth quarter. DRW Securities LLC now owns 77,200 shares of the company’s stock worth $1,970,000 after purchasing an additional 26,780 shares during the period. Creekmur Asset Management LLC bought a new stake in shares of Coterra Energy during the 4th quarter valued at about $126,000. Finally, Greenwood Capital Associates LLC lifted its holdings in shares of Coterra Energy by 17.5% in the 4th quarter. Greenwood Capital Associates LLC now owns 68,287 shares of the company’s stock worth $1,743,000 after purchasing an additional 10,159 shares during the last quarter. Hedge funds and other institutional investors own 87.92% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have commented on CTRA. Piper Sandler dropped their price target on shares of Coterra Energy from $39.00 to $31.00 and set an “overweight” rating on the stock in a research note on Thursday, August 15th. Wolfe Research assumed coverage on Coterra Energy in a research note on Thursday, July 18th. They set an “outperform” rating and a $35.00 target price for the company. Scotiabank dropped their price target on Coterra Energy from $35.00 to $32.00 and set a “sector outperform” rating on the stock in a report on Thursday. Wells Fargo & Company reduced their target price on Coterra Energy from $34.00 to $32.00 and set an “overweight” rating for the company in a report on Tuesday, October 1st. Finally, Barclays lowered their price target on shares of Coterra Energy from $33.00 to $31.00 and set an “overweight” rating on the stock in a report on Thursday, October 3rd. Two investment analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Coterra Energy presently has a consensus rating of “Moderate Buy” and an average price target of $32.06.

Coterra Energy Stock Up 0.6 %

CTRA stock opened at $24.51 on Friday. The stock has a market capitalization of $18.24 billion, a price-to-earnings ratio of 14.16, a price-to-earnings-growth ratio of 1.37 and a beta of 0.22. The company has a 50-day moving average of $23.82 and a two-hundred day moving average of $26.15. Coterra Energy Inc. has a 52-week low of $22.30 and a 52-week 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.

Coterra Energy (NYSE:CTRA) last released its earnings results on Thursday, August 1st. The company reported $0.37 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 in the previous year, the company earned $0.38 earnings per share. Coterra Energy’s revenue for the quarter was up 7.3% compared to the same quarter last year. As a group, equities research analysts anticipate that Coterra Energy Inc. will post 1.74 EPS for the current year.

Coterra Energy Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, August 29th. Investors of record on Thursday, August 15th were given a $0.21 dividend. The ex-dividend date of this dividend was Thursday, August 15th. This represents a $0.84 annualized dividend and a yield of 3.43%. Coterra Energy’s dividend payout ratio (DPR) is currently 48.55%.

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.