Coterra Energy Inc. (NYSE:CTRA) Stock Position Cut by Brookstone Capital Management

Brookstone Capital Management lessened its stake in Coterra Energy Inc. (NYSE:CTRA) by 79.4% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 9,108 shares of the company’s stock after selling 35,194 shares during the period. Brookstone Capital Management’s holdings in Coterra Energy were worth $254,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of CTRA. LPL Financial LLC grew its position in Coterra Energy by 0.9% in the 3rd quarter. LPL Financial LLC now owns 313,844 shares of the company’s stock valued at $8,489,000 after buying an additional 2,948 shares in the last quarter. Bank of Nova Scotia grew its position in Coterra Energy by 7.9% in the 3rd quarter. Bank of Nova Scotia now owns 74,923 shares of the company’s stock valued at $2,027,000 after buying an additional 5,492 shares in the last quarter. Lazard Asset Management LLC grew its position in Coterra Energy by 28.1% in the 3rd quarter. Lazard Asset Management LLC now owns 335,292 shares of the company’s stock valued at $9,068,000 after buying an additional 73,597 shares in the last quarter. Axxcess Wealth Management LLC grew its position in Coterra Energy by 64.7% in the 3rd quarter. Axxcess Wealth Management LLC now owns 22,025 shares of the company’s stock valued at $596,000 after buying an additional 8,656 shares in the last quarter. Finally, Alps Advisors Inc. bought a new position in Coterra Energy in the 3rd quarter valued at about $900,000. Institutional investors own 87.92% of the company’s stock.

Wall Street Analysts Forecast Growth

CTRA has been the subject of several research reports. Susquehanna raised their price objective on shares of Coterra Energy from $32.00 to $33.00 and gave the company a “positive” rating in a research report on Tuesday, May 7th. Scotiabank raised their price objective on shares of Coterra Energy from $31.00 to $35.00 and gave the company a “sector outperform” rating in a research report on Thursday, April 11th. Morgan Stanley raised their price objective on shares of Coterra Energy from $26.00 to $29.00 and gave the company an “equal weight” rating in a research report on Wednesday, April 17th. Citigroup raised their price objective on shares of Coterra Energy from $30.00 to $31.00 and gave the company a “buy” rating in a research report on Friday, May 24th. Finally, JPMorgan Chase & Co. raised their price objective on shares of Coterra Energy from $29.00 to $30.00 and gave the company an “overweight” rating in a research report on Thursday, April 4th. One analyst has rated the stock with a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $33.93.

Coterra Energy Price Performance

NYSE CTRA opened at $26.78 on Wednesday. The company has a 50 day simple moving average of $27.60 and a 200-day simple moving average of $26.61. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.49 and a quick ratio of 1.46. The firm has a market capitalization of $19.93 billion, a price-to-earnings ratio of 15.48, a price-to-earnings-growth ratio of 1.24 and a beta of 0.24. Coterra Energy Inc. has a 52-week low of $23.73 and a 52-week high of $29.89.

Coterra Energy (NYSE:CTRA) last posted its quarterly earnings results on Thursday, May 2nd. The company reported $0.50 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.41 by $0.09. The business had revenue of $1.43 billion during the quarter, compared to analyst estimates of $1.38 billion. Coterra Energy had a net margin of 23.34% and a return on equity of 10.75%. Equities research analysts predict that Coterra Energy Inc. will post 2 earnings per share for the current fiscal year.

Coterra Energy Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, May 30th. Stockholders of record on Thursday, May 16th were given a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a dividend yield of 3.14%. The ex-dividend date of this dividend was Wednesday, May 15th. Coterra Energy’s dividend payout ratio (DPR) is 48.55%.

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.