Bleakley Financial Group LLC Has $390,000 Position in Coterra Energy Inc. (NYSE:CTRA)

Bleakley Financial Group LLC decreased its holdings in shares of Coterra Energy Inc. (NYSE:CTRA) by 14.8% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 16,281 shares of the company’s stock after selling 2,830 shares during the period. Bleakley Financial Group LLC’s holdings in Coterra Energy were worth $390,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of CTRA. Fortitude Family Office LLC raised its holdings in Coterra Energy by 154.9% during the second quarter. Fortitude Family Office LLC now owns 933 shares of the company’s stock worth $25,000 after buying an additional 567 shares during the last quarter. Larson Financial Group LLC raised its holdings in shares of 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 purchasing an additional 535 shares during the last quarter. Central Pacific Bank Trust Division purchased a new stake in shares of Coterra Energy in the first quarter valued at about $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 purchasing an additional 1,443 shares during the last quarter. Finally, Tobam purchased a new stake in shares of Coterra Energy in the third quarter valued at about $63,000. Institutional investors and hedge funds own 87.92% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on CTRA. Roth Capital upgraded shares of Coterra Energy from a “hold” rating to a “strong-buy” rating in a report on Tuesday, August 27th. Scotiabank lowered their target price on shares of Coterra Energy from $35.00 to $32.00 and set a “sector outperform” rating for the company in a report on Thursday, October 10th. UBS Group lowered their target price on shares of Coterra Energy from $34.00 to $31.00 and set a “buy” rating for the company in a report on Wednesday, September 18th. Barclays lowered their target price on shares of Coterra Energy from $33.00 to $31.00 and set an “overweight” rating for the company in a report on Thursday, October 3rd. Finally, JPMorgan Chase & Co. reduced their price target on shares of Coterra Energy from $31.00 to $26.00 and set an “overweight” rating for the company in a research report on Thursday, September 12th. Two equities research 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 data from MarketBeat, Coterra Energy currently has an average rating of “Moderate Buy” and an average price target of $32.06.

Coterra Energy Price Performance

Shares of NYSE:CTRA opened at $23.52 on Wednesday. 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 capitalization of $17.50 billion, a PE ratio of 13.60, a P/E/G ratio of 1.41 and a beta of 0.22. Coterra Energy Inc. has a twelve month low of $22.30 and a twelve month high of $28.90. The company has a 50-day moving average price of $23.85 and a two-hundred day moving average price of $25.90.

Coterra Energy (NYSE:CTRA) last announced its earnings results 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). The company had revenue of $1.27 billion during the quarter, compared to analysts’ expectations of $1.32 billion. Coterra Energy had a net margin of 23.18% and a return on equity of 10.48%. The company’s revenue for the quarter was up 7.3% compared to the same quarter last year. During the same period in the prior year, the business earned $0.38 earnings per share. Equities analysts forecast that Coterra Energy Inc. will post 1.72 EPS for the current year.

Coterra Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 29th. Shareholders of record on Thursday, August 15th were paid a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a dividend yield of 3.57%. The ex-dividend date was Thursday, August 15th. Coterra Energy’s dividend payout ratio (DPR) is presently 48.55%.

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.