Mediolanum International Funds Ltd Lowers Position in Coterra Energy Inc. (NYSE:CTRA)

Mediolanum International Funds Ltd decreased its position in Coterra Energy Inc. (NYSE:CTRA) by 67.7% during the 3rd quarter, Holdings Channel reports. The fund owned 8,206 shares of the company’s stock after selling 17,175 shares during the quarter. Mediolanum International Funds Ltd’s holdings in Coterra Energy were worth $194,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Values First Advisors Inc. purchased a new stake in shares of Coterra Energy in the third quarter valued at about $57,000. apricus wealth LLC boosted its holdings in shares of Coterra Energy by 2.8% in the third quarter. apricus wealth LLC now owns 110,155 shares of the company’s stock valued at $2,638,000 after acquiring an additional 3,025 shares in the last quarter. Impact Partnership Wealth LLC boosted its holdings in shares of Coterra Energy by 23.4% in the third quarter. Impact Partnership Wealth LLC now owns 25,689 shares of the company’s stock valued at $615,000 after acquiring an additional 4,868 shares in the last quarter. Hennion & Walsh Asset Management Inc. lifted its stake in shares of Coterra Energy by 3.1% in the third quarter. Hennion & Walsh Asset Management Inc. now owns 55,968 shares of the company’s stock valued at $1,340,000 after purchasing an additional 1,703 shares during the period. Finally, International Assets Investment Management LLC acquired a new stake in shares of Coterra Energy in the third quarter valued at about $1,986,000. Hedge funds and other institutional investors own 87.92% of the company’s stock.

Coterra Energy Stock Down 0.6 %

CTRA stock opened at $23.85 on Monday. Coterra Energy Inc. has a one year low of $22.30 and a one year high of $28.90. The stock has a market capitalization of $17.75 billion, a P/E ratio of 13.79, a PEG ratio of 1.41 and a beta of 0.22. The company has a 50 day moving average price of $23.84 and a two-hundred day moving average price of $25.81. 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 announced its quarterly earnings data on Thursday, August 1st. The company reported $0.37 EPS for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.02). Coterra Energy had a net margin of 23.18% and a return on equity of 10.48%. The business had revenue of $1.27 billion during the quarter, compared to analysts’ expectations of $1.32 billion. During the same period in the prior year, the firm earned $0.38 EPS. Coterra Energy’s revenue for the quarter was up 7.3% on a year-over-year basis. As a group, sell-side analysts expect that Coterra Energy Inc. will post 1.72 EPS for the current year.

Coterra Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 29th. Stockholders 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 of this dividend was Thursday, August 15th. Coterra Energy’s dividend payout ratio is currently 48.55%.

Analysts Set New Price Targets

CTRA has been the subject of several recent analyst reports. Wells Fargo & Company reduced their price objective on shares of Coterra Energy from $34.00 to $32.00 and set an “overweight” rating for the company in a research note on Tuesday, October 1st. 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 objective on shares of Coterra Energy from $35.00 to $32.00 and set a “sector outperform” rating for the company in a research note on Thursday, October 10th. JPMorgan Chase & Co. reduced their price objective on shares of Coterra Energy from $31.00 to $26.00 and set an “overweight” rating for the company in a research note on Thursday, September 12th. Finally, Truist Financial reduced their price objective on shares of Coterra Energy from $34.00 to $31.00 and set a “buy” rating for the company in a research note on Monday, September 30th. Two analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $32.06.

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.