Coterra Energy Inc. (NYSE:CTRA) Position Trimmed by Creative Planning

Creative Planning lowered its position in Coterra Energy Inc. (NYSE:CTRA) by 6.6% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 58,247 shares of the company’s stock after selling 4,109 shares during the quarter. Creative Planning’s holdings in Coterra Energy were worth $1,395,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in CTRA. Fortitude Family Office LLC lifted its position 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 acquiring 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 buying an additional 535 shares during the last quarter. Central Pacific Bank Trust Division bought a new position in Coterra Energy in the 1st quarter worth approximately $44,000. EverSource Wealth Advisors LLC raised its position 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 acquiring an additional 557 shares during the last quarter. Finally, Family Firm Inc. acquired a new position in Coterra Energy during the 2nd quarter valued at about $68,000. 87.92% of the stock is owned by institutional investors.

Coterra Energy Stock Up 1.3 %

Coterra Energy stock opened at $24.13 on Thursday. 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 company’s 50-day moving average is $23.82 and its 200-day moving average is $25.75. The firm has a market capitalization of $17.84 billion, a PE ratio of 13.95, a P/E/G ratio of 1.41 and a beta of 0.22. Coterra Energy Inc. has a fifty-two week low of $22.30 and a fifty-two week high of $28.90.

Coterra Energy (NYSE:CTRA) last announced its quarterly 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). Coterra Energy had a return on equity of 10.48% and a net margin of 23.18%. The business had revenue of $1.27 billion for the quarter, compared to analyst estimates of $1.32 billion. During the same period last year, the firm earned $0.38 EPS. Coterra Energy’s quarterly revenue was up 7.3% compared to the same quarter last year. Sell-side analysts anticipate that Coterra Energy Inc. will post 1.72 earnings per share for the current year.

Analyst Ratings Changes

CTRA has been the subject of a number of analyst reports. Roth Mkm upgraded shares of Coterra Energy from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $25.00 to $29.00 in a report on Tuesday, August 27th. Barclays dropped their price objective on shares of Coterra Energy from $33.00 to $31.00 and set an “overweight” rating on the stock in a report on Thursday, October 3rd. Morgan Stanley reduced their target price on shares of Coterra Energy from $29.00 to $27.00 and set an “equal weight” rating for the company in a research note on Monday, September 16th. Roth Capital raised Coterra Energy from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, August 27th. Finally, Truist Financial reduced their price objective on Coterra Energy from $34.00 to $31.00 and set a “buy” rating for the company in a research report on Monday, September 30th. Two investment 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’s stock. According to data from MarketBeat, Coterra Energy has an average rating of “Moderate Buy” and a consensus target price of $32.06.

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.