Sequoia Financial Advisors LLC Cuts Stock Holdings in Coterra Energy Inc. (NYSE:CTRA)

Sequoia Financial Advisors LLC lessened its holdings in Coterra Energy Inc. (NYSE:CTRA) by 4.0% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 28,914 shares of the company’s stock after selling 1,205 shares during the period. Sequoia Financial Advisors LLC’s holdings in Coterra Energy were worth $693,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Bank of Montreal Can lifted its holdings in Coterra Energy by 160.1% during the second quarter. Bank of Montreal Can now owns 2,898,876 shares of the company’s stock worth $80,154,000 after buying an additional 1,784,192 shares during the period. SG Americas Securities LLC lifted its stake in shares of Coterra Energy by 2,609.6% during the 1st quarter. SG Americas Securities LLC now owns 1,541,342 shares of the company’s stock worth $42,973,000 after purchasing an additional 1,484,458 shares during the last quarter. Marshall Wace LLP boosted its position in Coterra Energy by 5,325.5% during the second quarter. Marshall Wace LLP now owns 1,148,569 shares of the company’s stock valued at $30,632,000 after purchasing an additional 1,127,399 shares in the last quarter. Clearbridge Investments LLC purchased a new position in Coterra Energy in the first quarter valued at about $28,967,000. Finally, American Century Companies Inc. raised its holdings in Coterra Energy by 29.1% in the second quarter. American Century Companies Inc. now owns 4,498,227 shares of the company’s stock worth $119,968,000 after purchasing an additional 1,013,107 shares in the last quarter. 87.92% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on CTRA. Roth Mkm raised shares of Coterra Energy from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $25.00 to $29.00 in a research report on Tuesday, August 27th. BMO Capital Markets raised shares of Coterra Energy to a “hold” rating in a report on Wednesday, July 3rd. Piper Sandler reduced their price target on Coterra Energy from $39.00 to $31.00 and set an “overweight” rating on the stock in a research report on Thursday, August 15th. JPMorgan Chase & Co. lowered their price objective on Coterra Energy from $31.00 to $26.00 and set an “overweight” rating for the company in a research report on Thursday, September 12th. Finally, Susquehanna reduced their target price on Coterra Energy from $33.00 to $30.00 and set a “positive” rating on the stock in a research report on Wednesday, September 4th. Two equities research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $32.06.

Coterra Energy Price Performance

NYSE:CTRA opened at $23.85 on Friday. The firm’s fifty day moving average is $23.84 and its two-hundred day moving average is $25.82. The firm has a market cap of $17.75 billion, a price-to-earnings ratio of 13.79, a PEG ratio of 1.41 and a beta of 0.22. Coterra Energy Inc. has a one year low of $22.30 and a one year high of $28.90. 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 earnings results on Thursday, August 1st. The company reported $0.37 EPS 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 return on equity of 10.48% and a net margin of 23.18%. The firm’s quarterly revenue was up 7.3% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.38 EPS. Research analysts expect that Coterra Energy Inc. will post 1.72 EPS for the current year.

Coterra Energy Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, August 29th. Stockholders of record on Thursday, August 15th were issued a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a dividend yield of 3.52%. The ex-dividend date of this dividend was Thursday, August 15th. Coterra Energy’s dividend payout ratio (DPR) is 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.