Alta Wealth Advisors LLC Reduces Stock Position in Coterra Energy Inc. $CTRA

Alta Wealth Advisors LLC lowered its stake in shares of Coterra Energy Inc. (NYSE:CTRA) by 26.8% during the 2nd quarter, HoldingsChannel reports. The fund owned 24,343 shares of the company’s stock after selling 8,893 shares during the period. Alta Wealth Advisors LLC’s holdings in Coterra Energy were worth $618,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. Cornerstone Planning Group LLC lifted its position in shares of Coterra Energy by 175.6% during the first quarter. Cornerstone Planning Group LLC now owns 871 shares of the company’s stock worth $25,000 after acquiring an additional 555 shares in the last quarter. Raleigh Capital Management Inc. lifted its position in shares of Coterra Energy by 463.5% during the first quarter. Raleigh Capital Management Inc. now owns 896 shares of the company’s stock worth $26,000 after acquiring an additional 737 shares in the last quarter. Banque Cantonale Vaudoise purchased a new stake in shares of Coterra Energy during the first quarter worth $29,000. Wayfinding Financial LLC purchased a new stake in shares of Coterra Energy during the first quarter worth $34,000. Finally, Catalyst Capital Advisors LLC purchased a new stake in shares of Coterra Energy during the first quarter worth $46,000. Hedge funds and other institutional investors own 87.92% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the stock. Mizuho decreased their price target on shares of Coterra Energy from $36.00 to $33.00 and set an “outperform” rating on the stock in a report on Monday, September 15th. Piper Sandler upped their price target on shares of Coterra Energy from $37.00 to $39.00 and gave the stock an “overweight” rating in a report on Thursday, August 14th. The Goldman Sachs Group reaffirmed a “neutral” rating and issued a $31.00 price target on shares of Coterra Energy in a report on Tuesday, July 1st. Wells Fargo & Company upped their price target on shares of Coterra Energy from $32.00 to $33.00 and gave the stock an “overweight” rating in a report on Thursday, August 14th. Finally, Scotiabank reaffirmed an “outperform” rating on shares of Coterra Energy in a report on Friday, July 11th. Fourteen investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $33.22.

Coterra Energy Stock Up 0.6%

CTRA opened at $23.30 on Friday. The stock has a market cap of $17.78 billion, a PE ratio of 11.15, a P/E/G ratio of 0.33 and a beta of 0.29. The company has a quick ratio of 1.08, a current ratio of 1.13 and a debt-to-equity ratio of 0.29. Coterra Energy Inc. has a 52 week low of $22.46 and a 52 week high of $29.95. The business’s fifty day simple moving average is $23.93 and its 200 day simple moving average is $24.96.

Coterra Energy (NYSE:CTRA) last released its earnings results on Monday, August 4th. The company reported $0.48 EPS for the quarter, missing analysts’ consensus estimates of $0.50 by ($0.02). The firm had revenue of $1.97 billion during the quarter, compared to the consensus estimate of $1.78 billion. Coterra Energy had a net margin of 23.80% and a return on equity of 10.99%. The firm’s revenue was up 54.6% compared to the same quarter last year. During the same period in the prior year, the company earned $0.37 EPS. As a group, research analysts expect that Coterra Energy Inc. will post 1.54 earnings per share for the current fiscal year.

Coterra Energy Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, August 28th. Investors of record on Thursday, August 14th were paid a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a yield of 3.8%. The ex-dividend date of this dividend was Thursday, August 14th. Coterra Energy’s dividend payout ratio is currently 42.11%.

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.