Coterra Energy Inc. (NYSE:CTRA) Position Lessened by Ballentine Partners LLC

Ballentine Partners LLC reduced its stake in shares of Coterra Energy Inc. (NYSE:CTRA) by 5.6% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 18,132 shares of the company’s stock after selling 1,079 shares during the quarter. Ballentine Partners LLC’s holdings in Coterra Energy were worth $434,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Fifth Third Bancorp grew its holdings in Coterra Energy by 0.6% in the 2nd quarter. Fifth Third Bancorp now owns 71,138 shares of the company’s stock worth $1,897,000 after buying an additional 399 shares in the last quarter. TCW Group Inc. boosted its position in Coterra Energy by 4.0% during the 2nd quarter. TCW Group Inc. now owns 10,447 shares of the company’s stock worth $279,000 after acquiring an additional 404 shares during the period. Redwood Wealth Management Group LLC grew its stake in shares of Coterra Energy by 2.3% in the first quarter. Redwood Wealth Management Group LLC now owns 18,974 shares of the company’s stock worth $529,000 after purchasing an additional 429 shares in the last quarter. Cornercap Investment Counsel Inc. increased its holdings in shares of Coterra Energy by 0.7% during the second quarter. Cornercap Investment Counsel Inc. now owns 66,280 shares of the company’s stock valued at $1,768,000 after purchasing an additional 436 shares during the period. Finally, Quent Capital LLC raised its stake in shares of Coterra Energy by 8.1% during the first quarter. Quent Capital LLC now owns 5,923 shares of the company’s stock valued at $165,000 after purchasing an additional 445 shares in the last quarter. 87.92% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms have commented on CTRA. Wells Fargo & Company lowered their target price on shares of Coterra Energy from $34.00 to $32.00 and set an “overweight” rating on the stock in a research note on Tuesday, October 1st. Scotiabank lowered their price objective on shares of Coterra Energy from $35.00 to $32.00 and set a “sector outperform” rating on the stock in a research note on Thursday, October 10th. Roth Capital upgraded Coterra Energy from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, August 27th. Roth Mkm upgraded Coterra Energy from a “neutral” rating to a “buy” rating and lifted their price target for the company from $25.00 to $29.00 in a research report on Tuesday, August 27th. Finally, Susquehanna cut their price objective on Coterra Energy from $33.00 to $30.00 and set a “positive” rating for the company in a report on Wednesday, September 4th. 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 stock. According to data from MarketBeat.com, Coterra Energy presently has an average rating of “Moderate Buy” and a consensus price target of $32.06.

Coterra Energy Stock Performance

Shares of CTRA stock opened at $23.85 on Monday. The company has a market capitalization of $17.75 billion, a price-to-earnings ratio of 13.79, a P/E/G ratio of 1.41 and a beta of 0.22. Coterra Energy Inc. has a 1-year low of $22.30 and a 1-year high of $28.90. The company has a current ratio of 1.40, a quick ratio of 1.38 and a debt-to-equity ratio of 0.16. The stock’s fifty day simple moving average is $23.84 and its 200-day simple moving average is $25.81.

Coterra Energy (NYSE:CTRA) last issued its earnings results on Thursday, August 1st. The company reported $0.37 earnings per share for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.02). The business had revenue of $1.27 billion during 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%. Coterra Energy’s revenue for the quarter was up 7.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.38 EPS. On average, sell-side analysts predict that Coterra Energy Inc. will post 1.72 earnings per share for the current fiscal year.

Coterra Energy Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, August 29th. Shareholders of record on Thursday, August 15th were paid a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 3.52%. The ex-dividend date was Thursday, August 15th. Coterra Energy’s dividend payout ratio (DPR) 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.