Inspire Investing LLC Cuts Stake in Coterra Energy Inc. (NYSE:CTRA)

Inspire Investing LLC lessened its holdings in Coterra Energy Inc. (NYSE:CTRA) by 78.8% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 10,148 shares of the company’s stock after selling 37,640 shares during the period. Inspire Investing LLC’s holdings in Coterra Energy were worth $271,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the business. Fortitude Family Office LLC grew its stake in Coterra Energy by 154.9% during the 2nd quarter. Fortitude Family Office LLC now owns 933 shares of the company’s stock worth $25,000 after purchasing an additional 567 shares in the last quarter. Larson Financial Group LLC raised its holdings in Coterra Energy by 98.0% in the second quarter. Larson Financial Group LLC now owns 1,081 shares of the company’s stock valued at $29,000 after acquiring an additional 535 shares in the last quarter. Central Pacific Bank Trust Division purchased a new position in Coterra Energy in the first quarter worth approximately $44,000. Harbor Investment Advisory LLC increased 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 valued at $45,000 after purchasing an additional 1,443 shares during the last quarter. Finally, Northwest Investment Counselors LLC purchased a new stake in shares of Coterra Energy during the 1st quarter worth $47,000. Institutional investors and hedge funds own 87.92% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on CTRA. Susquehanna cut 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, September 4th. Piper Sandler dropped their price target on shares of Coterra Energy from $39.00 to $31.00 and set an “overweight” rating on the stock in a research note on Thursday, August 15th. Bank of America restated a “buy” rating and set a $34.00 price objective on shares of Coterra Energy in a research report on Friday, June 14th. BMO Capital Markets raised shares of Coterra Energy to a “hold” rating in a research report on Wednesday, July 3rd. Finally, UBS Group reduced their price target on shares of Coterra Energy from $34.00 to $31.00 and set a “buy” rating for the company in a research report on Wednesday, September 18th. Two research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Coterra Energy has a consensus rating of “Moderate Buy” and an average target price of $32.59.

Coterra Energy Stock Performance

NYSE:CTRA opened at $23.76 on Wednesday. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.40 and a quick ratio of 1.38. The firm has a market cap of $17.68 billion, a price-to-earnings ratio of 13.73, a price-to-earnings-growth ratio of 1.16 and a beta of 0.22. The firm’s fifty day moving average price is $24.29 and its 200 day moving average price is $26.36. Coterra Energy Inc. has a 1-year low of $22.30 and a 1-year high of $29.89.

Coterra Energy (NYSE:CTRA) last issued its quarterly earnings results on Thursday, August 1st. The company reported $0.37 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.02). The firm had revenue of $1.27 billion for 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 company’s revenue was up 7.3% compared to the same quarter last year. During the same quarter last year, the firm earned $0.38 earnings per share. On average, sell-side analysts expect that Coterra Energy Inc. will post 1.95 EPS for the current year.

Coterra Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 29th. Investors of record on Thursday, August 15th were paid 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 3.54%. Coterra Energy’s dividend payout ratio (DPR) is presently 48.55%.

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.