Greenleaf Trust Sells 5,990 Shares of Coterra Energy Inc. (NYSE:CTRA)

Greenleaf Trust cut its stake in Coterra Energy Inc. (NYSE:CTRA) by 28.7% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 14,914 shares of the company’s stock after selling 5,990 shares during the period. Greenleaf Trust’s holdings in Coterra Energy were worth $357,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently modified their holdings of CTRA. Wealth Enhancement Advisory Services LLC raised its position in Coterra Energy by 7.2% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 35,751 shares of the company’s stock worth $997,000 after purchasing an additional 2,403 shares during the last quarter. SeaCrest Wealth Management LLC raised its position in shares of Coterra Energy by 6.9% during the first quarter. SeaCrest Wealth Management LLC now owns 8,506 shares of the company’s stock worth $237,000 after acquiring an additional 549 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. lifted its stake in shares of Coterra Energy by 0.5% during the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 2,011,692 shares of the company’s stock valued at $56,086,000 after acquiring an additional 10,001 shares during the period. Norden Group LLC bought a new position in Coterra Energy in the first quarter valued at about $2,827,000. Finally, Kovack Advisors Inc. acquired a new stake in Coterra Energy in the first quarter worth about $237,000. 87.92% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts have issued reports on the stock. BMO Capital Markets upgraded shares of Coterra Energy to a “hold” rating in a research report on Wednesday, July 3rd. Wolfe Research initiated coverage on shares of Coterra Energy in a research note on Thursday, July 18th. They issued an “outperform” rating and a $35.00 price objective on the stock. Piper Sandler dropped their target price on shares of Coterra Energy from $39.00 to $31.00 and set an “overweight” rating for the company in a research report on Thursday, August 15th. Scotiabank reduced their price target on Coterra Energy from $35.00 to $32.00 and set a “sector outperform” rating on the stock in a research report on Thursday, October 10th. Finally, JPMorgan Chase & Co. dropped their price objective on Coterra Energy from $31.00 to $26.00 and set an “overweight” rating for the company in a report on Thursday, September 12th. Two equities research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Coterra Energy presently has a consensus rating of “Moderate Buy” and a consensus target price of $32.06.

Coterra Energy Trading Down 0.5 %

Coterra Energy stock opened at $23.87 on Friday. The stock has a 50-day simple moving average of $23.84 and a 200 day simple moving average of $25.84. The stock has a market capitalization of $17.76 billion, a P/E ratio of 13.80, a PEG ratio of 1.41 and a beta of 0.22. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.38 and a current ratio of 1.40. Coterra Energy Inc. has a 52 week low of $22.30 and a 52 week high of $28.90.

Coterra Energy (NYSE:CTRA) last issued 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 return on equity of 10.48% and a net margin of 23.18%. The business had revenue of $1.27 billion for the quarter, compared to the consensus estimate of $1.32 billion. During the same quarter in the prior year, the firm posted $0.38 earnings per share. The business’s revenue was up 7.3% compared to the same quarter last year. Analysts expect that Coterra Energy Inc. will post 1.72 earnings per share for the current year.

Coterra Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 29th. Stockholders of record on Thursday, August 15th were given a $0.21 dividend. This represents a $0.84 annualized dividend and a dividend yield of 3.52%. The ex-dividend date was Thursday, August 15th. Coterra Energy’s 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.