Coterra Energy Inc. (NYSE:CTRA) Shares Sold by Mutual of America Capital Management LLC

Mutual of America Capital Management LLC reduced its stake in shares of Coterra Energy Inc. (NYSE:CTRA) by 26.5% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 93,854 shares of the company’s stock after selling 33,763 shares during the period. Mutual of America Capital Management LLC’s holdings in Coterra Energy were worth $2,503,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in CTRA. Cambridge Investment Research Advisors Inc. boosted its holdings in shares of Coterra Energy by 3.9% during the 4th quarter. Cambridge Investment Research Advisors Inc. now owns 151,805 shares of the company’s stock worth $3,874,000 after purchasing an additional 5,702 shares during the last quarter. United Services Automobile Association lifted its holdings in Coterra Energy by 19.4% in the fourth quarter. United Services Automobile Association now owns 21,717 shares of the company’s stock valued at $554,000 after acquiring an additional 3,534 shares during the last quarter. Steward Partners Investment Advisory LLC lifted its holdings in Coterra Energy by 2.2% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 60,184 shares of the company’s stock valued at $1,536,000 after acquiring an additional 1,316 shares during the last quarter. TD Asset Management Inc lifted its holdings in Coterra Energy by 2.0% in the fourth quarter. TD Asset Management Inc now owns 1,103,524 shares of the company’s stock valued at $28,162,000 after acquiring an additional 21,789 shares during the last quarter. Finally, Stifel Financial Corp lifted its holdings in Coterra Energy by 20.8% in the fourth quarter. Stifel Financial Corp now owns 860,113 shares of the company’s stock valued at $21,950,000 after acquiring an additional 147,961 shares during the last quarter. 87.92% of the stock is currently owned by institutional investors and hedge funds.

Coterra Energy Stock Down 0.9 %

Coterra Energy stock opened at $23.76 on Wednesday. Coterra Energy Inc. has a twelve month low of $22.30 and a twelve month high of $29.89. The stock’s fifty day simple moving average is $24.29 and its 200-day simple moving average is $26.36. 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 firm has a market capitalization of $17.68 billion, a P/E ratio of 13.73, a P/E/G ratio of 1.16 and a beta of 0.22.

Coterra Energy (NYSE:CTRA) last posted its quarterly earnings data 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). Coterra Energy had a return on equity of 10.48% and a net margin of 23.18%. The company had revenue of $1.27 billion for the quarter, compared to analysts’ expectations of $1.32 billion. During the same period in the prior year, the company posted $0.38 EPS. The firm’s revenue was up 7.3% compared to the same quarter last year. As a group, equities analysts expect that Coterra Energy Inc. will post 1.95 earnings per share for the current fiscal year.

Coterra Energy Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 29th. Investors of record on Thursday, August 15th were issued a $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 3.54%. The ex-dividend date of this dividend was Thursday, August 15th. Coterra Energy’s dividend payout ratio (DPR) is presently 48.55%.

Analyst Ratings Changes

A number of research analysts recently commented on the company. Roth Mkm upgraded Coterra Energy from a “neutral” rating to a “buy” rating and upped their price objective for the company from $25.00 to $29.00 in a report on Tuesday, August 27th. BMO Capital Markets upgraded Coterra Energy to a “hold” rating in a report on Wednesday, July 3rd. Susquehanna decreased their price objective on Coterra Energy from $33.00 to $30.00 and set a “positive” rating on the stock in a report on Wednesday, September 4th. Morgan Stanley decreased their price objective on Coterra Energy from $29.00 to $27.00 and set an “equal weight” rating on the stock in a report on Monday, September 16th. Finally, Piper Sandler decreased their price target on Coterra Energy from $39.00 to $31.00 and set an “overweight” rating on the stock 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 issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $32.59.

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.