Ritholtz Wealth Management Sells 972 Shares of Coterra Energy Inc. (NYSE:CTRA)

Ritholtz Wealth Management lessened its stake in shares of Coterra Energy Inc. (NYSE:CTRA) by 5.7% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 16,153 shares of the company’s stock after selling 972 shares during the quarter. Ritholtz Wealth Management’s holdings in Coterra Energy were worth $431,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in CTRA. Fortitude Family Office LLC boosted its position in Coterra Energy by 154.9% during the second quarter. Fortitude Family Office LLC now owns 933 shares of the company’s stock valued at $25,000 after purchasing an additional 567 shares in the last quarter. Central Pacific Bank Trust Division bought a new stake in shares of Coterra Energy in the 1st quarter valued at about $44,000. Harbor Investment Advisory LLC grew its position in shares of Coterra Energy by 869.3% in the 1st quarter. Harbor Investment Advisory LLC now owns 1,609 shares of the company’s stock worth $45,000 after buying an additional 1,443 shares during the last quarter. Northwest Investment Counselors LLC bought a new position in shares of Coterra Energy during the 1st quarter worth approximately $47,000. Finally, Private Wealth Management Group LLC purchased a new stake in Coterra Energy during the fourth quarter valued at approximately $48,000. 87.92% of the stock is currently owned by hedge funds and other institutional investors.

Coterra Energy Stock Down 1.9 %

Coterra Energy stock opened at $23.48 on Thursday. The business’s 50-day moving average price is $25.30 and its 200 day moving average price is $26.63. The company has a quick ratio of 1.38, a current ratio of 1.40 and a debt-to-equity ratio of 0.16. The firm has a market cap of $17.47 billion, a price-to-earnings ratio of 13.57, a price-to-earnings-growth ratio of 1.24 and a beta of 0.22. Coterra Energy Inc. has a 52 week low of $23.18 and a 52 week high of $29.89.

Coterra Energy (NYSE:CTRA) last issued 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 return on equity of 10.48% and a net margin of 23.18%. The firm had revenue of $1.27 billion for the quarter, compared to analyst estimates of $1.32 billion. During the same period in the previous year, the business earned $0.38 EPS. Coterra Energy’s revenue for the quarter was up 7.3% compared to the same quarter last year. As a group, sell-side analysts anticipate that Coterra Energy Inc. will post 1.95 earnings per share for the current year.

Coterra Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 29th. Shareholders of record on Thursday, August 15th were given a $0.21 dividend. The ex-dividend date of this dividend was Thursday, August 15th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 3.58%. Coterra Energy’s dividend payout ratio (DPR) is currently 48.55%.

Analysts Set New Price Targets

Several equities analysts have issued reports on the stock. Piper Sandler cut their price target on shares of Coterra Energy from $39.00 to $31.00 and set an “overweight” rating on the stock in a report on Thursday, August 15th. Mizuho boosted their target price on Coterra Energy from $37.00 to $41.00 and gave the stock a “buy” rating in a research note on Monday, May 13th. Roth Mkm upgraded Coterra Energy from a “neutral” rating to a “buy” rating and increased their price target for the company from $25.00 to $29.00 in a research note on Tuesday, August 27th. Susquehanna dropped their price target on Coterra Energy from $33.00 to $30.00 and set a “positive” rating on the stock in a research note on Wednesday. Finally, UBS Group decreased their price objective on shares of Coterra Energy from $36.00 to $34.00 and set a “buy” rating for the company in a research report on Thursday, August 8th. 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 stock. According to MarketBeat, Coterra Energy currently has a consensus rating of “Moderate Buy” and a consensus price target of $33.12.

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.