GAMMA Investing LLC Sells 2,924 Shares of Coterra Energy Inc. (NYSE:CTRA)

GAMMA Investing LLC cut its position in shares of Coterra Energy Inc. (NYSE:CTRA) by 26.5% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 8,117 shares of the company’s stock after selling 2,924 shares during the quarter. GAMMA Investing LLC’s holdings in Coterra Energy were worth $194,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the company. Czech National Bank grew its position in Coterra Energy by 6.2% during the third quarter. Czech National Bank now owns 150,598 shares of the company’s stock valued at $3,607,000 after acquiring an additional 8,777 shares during the last quarter. Alpha Omega Wealth Management LLC purchased a new stake in shares of Coterra Energy in the 3rd quarter valued at $2,918,000. Sanctuary Advisors LLC bought a new position in shares of Coterra Energy during the 2nd quarter valued at $3,420,000. New Wave Wealth Advisors LLC purchased a new position in Coterra Energy in the 2nd quarter worth $245,000. Finally, Cetera Investment Advisers lifted its stake in Coterra Energy by 2.2% in the second quarter. Cetera Investment Advisers now owns 213,650 shares of the company’s stock worth $5,698,000 after purchasing an additional 4,555 shares during the last quarter. 87.92% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts have recently commented on CTRA shares. Roth Capital upgraded Coterra Energy from a “hold” rating to a “strong-buy” rating in a report on Tuesday, August 27th. Morgan Stanley decreased their price target on Coterra Energy from $29.00 to $27.00 and set an “equal weight” rating on the stock in a research note on Monday, September 16th. Truist Financial dropped their price objective on Coterra Energy from $34.00 to $31.00 and set a “buy” rating for the company in a research note on Monday, September 30th. BMO Capital Markets raised shares of Coterra Energy to a “hold” rating in a research note on Wednesday, July 3rd. Finally, UBS Group dropped 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 issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $32.06.

Coterra Energy Stock Performance

Coterra Energy stock opened at $24.89 on Friday. Coterra Energy Inc. has a fifty-two week low of $22.30 and a fifty-two week high of $29.89. The stock has a market cap of $18.40 billion, a price-to-earnings ratio of 14.22, a PEG ratio of 1.41 and a beta of 0.22. The stock’s 50 day simple moving average is $23.83 and its two-hundred day simple moving average is $26.13. 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 (NYSE:CTRA) last issued its quarterly earnings results 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). The firm had revenue of $1.27 billion during the quarter, compared to analysts’ expectations of $1.32 billion. Coterra Energy had a return on equity of 10.48% and a net margin of 23.18%. Coterra Energy’s revenue for the quarter was up 7.3% on a year-over-year basis. During the same period in the previous year, the company earned $0.38 earnings per share. As a group, analysts expect that Coterra Energy Inc. will post 1.72 earnings per share for the current fiscal year.

Coterra Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 29th. Investors of record on Thursday, August 15th were given a dividend of $0.21 per share. 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 3.37%. Coterra Energy’s dividend payout ratio (DPR) is currently 48.00%.

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.