Bradley Foster & Sargent Inc. CT Reduces Position in Coterra Energy Inc. (NYSE:CTRA)

Bradley Foster & Sargent Inc. CT decreased its position in shares of Coterra Energy Inc. (NYSE:CTRA) by 12.9% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 29,057 shares of the company’s stock after selling 4,305 shares during the period. Bradley Foster & Sargent Inc. CT’s holdings in Coterra Energy were worth $775,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Fortitude Family Office LLC increased its holdings in shares of Coterra Energy by 154.9% in the 2nd quarter. Fortitude Family Office LLC now owns 933 shares of the company’s stock valued at $25,000 after acquiring an additional 567 shares during the period. Larson Financial Group LLC grew its position in Coterra Energy by 98.0% during the 2nd quarter. Larson Financial Group LLC now owns 1,081 shares of the company’s stock worth $29,000 after purchasing an additional 535 shares during the last quarter. Central Pacific Bank Trust Division purchased a new position in Coterra Energy during the 1st quarter worth $44,000. Harbor Investment Advisory LLC raised its holdings in shares of Coterra Energy by 869.3% in the first quarter. Harbor Investment Advisory LLC now owns 1,609 shares of the company’s stock valued at $45,000 after buying an additional 1,443 shares during the last quarter. Finally, Northwest Investment Counselors LLC purchased a new stake in shares of Coterra Energy in the first quarter valued at about $47,000. Hedge funds and other institutional investors own 87.92% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently issued reports on CTRA. Roth Mkm upgraded Coterra Energy from a “neutral” rating to a “buy” rating and boosted their price target for the company from $25.00 to $29.00 in a research report on Tuesday, August 27th. Wolfe Research initiated coverage on Coterra Energy in a research note on Thursday, July 18th. They set an “outperform” rating and a $35.00 price target for the company. Roth Capital upgraded shares of Coterra Energy from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, August 27th. Citigroup raised their target price on shares of Coterra Energy from $30.00 to $31.00 and gave the stock a “buy” rating in a research note on Friday, May 24th. Finally, JPMorgan Chase & Co. dropped their price target on shares of Coterra Energy from $31.00 to $26.00 and set an “overweight” rating on the stock in a research note on Thursday, September 12th. Two equities research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Coterra Energy currently has an average rating of “Moderate Buy” and a consensus target price of $32.59.

Coterra Energy Stock Up 1.5 %

CTRA opened at $23.57 on Friday. Coterra Energy Inc. has a one year low of $22.30 and a one year high of $29.89. The company has a market cap of $17.54 billion, a price-to-earnings ratio of 13.62, a PEG ratio of 1.16 and a beta of 0.22. The business’s fifty day moving average is $24.49 and its two-hundred day moving average is $26.42. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.38 and a current ratio of 1.40.

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). The business had revenue of $1.27 billion during the quarter, compared to analyst estimates of $1.32 billion. Coterra Energy had a net margin of 23.18% and a return on equity of 10.48%. Coterra Energy’s revenue was up 7.3% on a year-over-year basis. During the same period in the previous year, the company posted $0.38 earnings per share. Analysts anticipate that Coterra Energy Inc. will post 1.95 EPS for the current fiscal year.

Coterra Energy Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, August 29th. Investors of record on Thursday, August 15th were paid a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a yield of 3.56%. The ex-dividend date was Thursday, August 15th. Coterra Energy’s payout ratio is currently 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.