Coterra Energy Inc. (NYSE:CTRA) Shares Sold by Allworth Financial LP

Allworth Financial LP trimmed its stake in Coterra Energy Inc. (NYSE:CTRA) by 14.6% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 17,720 shares of the company’s stock after selling 3,021 shares during the quarter. Allworth Financial LP’s holdings in Coterra Energy were worth $424,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of the stock. Heritage Oak Wealth Advisors LLC acquired a new position in shares of Coterra Energy during the third quarter worth $217,000. Values First Advisors Inc. acquired a new stake in shares of Coterra Energy during the third quarter worth $57,000. apricus wealth LLC raised its holdings in shares of Coterra Energy by 2.8% during the third quarter. apricus wealth LLC now owns 110,155 shares of the company’s stock worth $2,638,000 after purchasing an additional 3,025 shares during the period. Impact Partnership Wealth LLC raised its holdings in shares of Coterra Energy by 23.4% during the third quarter. Impact Partnership Wealth LLC now owns 25,689 shares of the company’s stock worth $615,000 after purchasing an additional 4,868 shares during the period. Finally, Hennion & Walsh Asset Management Inc. raised its holdings in shares of Coterra Energy by 3.1% during the third quarter. Hennion & Walsh Asset Management Inc. now owns 55,968 shares of the company’s stock worth $1,340,000 after purchasing an additional 1,703 shares during the period. 87.92% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on CTRA shares. Piper Sandler decreased 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. BMO Capital Markets raised shares of Coterra Energy to a “hold” rating in a research note on Wednesday, July 3rd. Morgan Stanley reduced their price objective on shares of Coterra Energy from $29.00 to $27.00 and set an “equal weight” rating for the company in a research note on Monday, September 16th. Scotiabank reduced their price target on shares of Coterra Energy from $35.00 to $32.00 and set a “sector outperform” rating for the company in a research report on Thursday, October 10th. Finally, Wells Fargo & Company reduced their price target on shares of Coterra Energy from $34.00 to $32.00 and set an “overweight” rating for the company in a research report on Tuesday, October 1st. 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’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $32.06.

Coterra Energy Stock Up 0.2 %

Shares of NYSE CTRA opened at $23.80 on Wednesday. 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. The stock has a market capitalization of $17.59 billion, a P/E ratio of 13.76, a PEG ratio of 1.41 and a beta of 0.22. The stock’s fifty day moving average is $23.82 and its 200 day moving average is $25.78.

Coterra Energy (NYSE:CTRA) last announced its quarterly earnings results on Thursday, August 1st. The company reported $0.37 EPS for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.02). The firm had revenue of $1.27 billion for the quarter, compared to analyst estimates of $1.32 billion. Coterra Energy had a net margin of 23.18% and a return on equity of 10.48%. The business’s revenue for the quarter was up 7.3% compared to the same quarter last year. During the same period in the previous year, the business posted $0.38 earnings per share. Sell-side analysts forecast that Coterra Energy Inc. will post 1.72 earnings per share for the current fiscal year.

Coterra Energy Dividend Announcement

The firm also recently announced 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 was Thursday, August 15th. This represents a $0.84 dividend on an annualized basis and a yield of 3.53%. Coterra Energy’s payout ratio is currently 48.55%.

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.