First Trust Direct Indexing L.P. Has $571,000 Stake in Coterra Energy Inc. (NYSE:CTRA)

First Trust Direct Indexing L.P. trimmed its holdings in shares of Coterra Energy Inc. (NYSE:CTRA) by 22.1% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 23,857 shares of the company’s stock after selling 6,751 shares during the quarter. First Trust Direct Indexing L.P.’s holdings in Coterra Energy were worth $571,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the business. King Luther Capital Management Corp grew its position in shares of Coterra Energy by 4.4% in the second quarter. King Luther Capital Management Corp now owns 6,783,690 shares of the company’s stock valued at $180,921,000 after purchasing an additional 285,774 shares during the last quarter. Disciplined Growth Investors Inc. MN grew its position in shares of Coterra Energy by 1.0% in the second quarter. Disciplined Growth Investors Inc. MN now owns 5,063,920 shares of the company’s stock valued at $135,055,000 after purchasing an additional 51,249 shares during the last quarter. American Century Companies Inc. grew its position in shares of Coterra Energy by 29.1% in the second quarter. American Century Companies Inc. now owns 4,498,227 shares of the company’s stock valued at $119,968,000 after purchasing an additional 1,013,107 shares during the last quarter. Equity Investment Corp grew its position in shares of Coterra Energy by 0.7% in the second quarter. Equity Investment Corp now owns 3,227,678 shares of the company’s stock valued at $86,082,000 after purchasing an additional 22,017 shares during the last quarter. Finally, Captrust Financial Advisors grew its position in shares of Coterra Energy by 4.6% in the first quarter. Captrust Financial Advisors now owns 2,952,024 shares of the company’s stock valued at $78,422,000 after purchasing an additional 128,720 shares during the last quarter. 87.92% of the stock is owned by institutional investors and hedge funds.

Coterra Energy Stock Down 5.1 %

Shares of CTRA opened at $22.71 on Friday. The company has a market capitalization of $16.79 billion, a P/E ratio of 13.68, a PEG ratio of 1.49 and a beta of 0.22. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.40 and a quick ratio of 1.38. Coterra Energy Inc. has a one year low of $22.30 and a one year high of $28.90. The business’s 50 day simple moving average is $23.79 and its 200-day simple moving average is $25.69.

Coterra Energy (NYSE:CTRA) last announced 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). The business had revenue of $1.27 billion during the quarter, compared to analyst estimates of $1.32 billion. Coterra Energy had a return on equity of 10.48% and a net margin of 23.18%. The firm’s revenue was up 7.3% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.38 earnings per share. As a group, sell-side analysts predict that Coterra Energy Inc. will post 1.62 EPS for the current fiscal year.

Coterra Energy Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 27th. Stockholders of record on Thursday, November 14th will be issued a $0.21 dividend. This represents a $0.84 annualized dividend and a dividend yield of 3.70%. The ex-dividend date of this dividend is Thursday, November 14th. Coterra Energy’s payout ratio is currently 50.60%.

Analysts Set New Price Targets

Several research firms recently weighed in on CTRA. Roth Capital upgraded shares of Coterra Energy from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, August 27th. Roth Mkm upgraded shares of Coterra Energy from a “neutral” rating to a “buy” rating and increased their target price for the company from $25.00 to $29.00 in a research note on Tuesday, August 27th. Morgan Stanley reduced their target price 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. Susquehanna reduced their target price on shares of Coterra Energy from $33.00 to $30.00 and set a “positive” rating for the company in a research note on Wednesday, September 4th. Finally, Piper Sandler reduced 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 note on Thursday, August 15th. Two investment analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $31.24.

Coterra Energy 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.