Private Advisor Group LLC Sells 42,872 Shares of Coterra Energy Inc. (NYSE:CTRA)

Private Advisor Group LLC cut its holdings in shares of Coterra Energy Inc. (NYSE:CTRA) by 24.1% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 134,796 shares of the company’s stock after selling 42,872 shares during the period. Private Advisor Group LLC’s holdings in Coterra Energy were worth $3,228,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Fortitude Family Office LLC boosted its stake in Coterra Energy by 154.9% in the second quarter. Fortitude Family Office LLC now owns 933 shares of the company’s stock valued at $25,000 after buying an additional 567 shares in the last quarter. Larson Financial Group LLC increased 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 in the last quarter. Central Pacific Bank Trust Division acquired a new stake in Coterra Energy in the first quarter valued at approximately $44,000. Tobam bought a new stake in shares of Coterra Energy during the third quarter worth $63,000. Finally, EverSource Wealth Advisors LLC increased its holdings in shares of Coterra Energy by 31.0% during the first quarter. EverSource Wealth Advisors LLC now owns 2,351 shares of the company’s stock worth $64,000 after buying an additional 557 shares in the last quarter. Institutional investors and hedge funds own 87.92% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently weighed in on CTRA. Piper Sandler reduced their price objective 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. Roth Mkm raised 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 research note on Tuesday, August 27th. Susquehanna cut their target price on shares of Coterra Energy from $33.00 to $30.00 and set a “positive” rating on the stock in a research report on Wednesday, September 4th. Morgan Stanley decreased their price target on shares of Coterra Energy from $29.00 to $27.00 and set an “equal weight” rating for the company in a research report on Monday, September 16th. Finally, UBS Group cut their price target on shares of Coterra Energy from $34.00 to $31.00 and set a “buy” rating on the stock in a report on Wednesday, September 18th. Two investment 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 company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $32.06.

Coterra Energy Price Performance

Shares of CTRA opened at $23.85 on Monday. The firm has a market cap of $17.75 billion, a PE ratio of 13.79, a price-to-earnings-growth ratio of 1.41 and a beta of 0.22. Coterra Energy Inc. has a 52-week low of $22.30 and a 52-week high of $28.90. The business’s 50 day moving average price is $23.84 and its two-hundred day moving average price is $25.81. 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 earnings per share (EPS) for the quarter, missing the consensus estimate 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 the consensus estimate of $1.32 billion. During the same period in the prior year, the company earned $0.38 earnings per share. The firm’s revenue was up 7.3% compared to the same quarter last year. On average, equities analysts anticipate that Coterra Energy Inc. will post 1.72 EPS for the current year.

Coterra Energy Announces Dividend

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