Tyche Wealth Partners LLC Decreases Stake in Coterra Energy Inc. $CTRA

Tyche Wealth Partners LLC cut its holdings in shares of Coterra Energy Inc. (NYSE:CTRA) by 16.0% during the second quarter, HoldingsChannel.com reports. The fund owned 9,444 shares of the company’s stock after selling 1,793 shares during the period. Tyche Wealth Partners LLC’s holdings in Coterra Energy were worth $240,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of CTRA. Merit Financial Group LLC boosted its position in Coterra Energy by 78.4% during the first quarter. Merit Financial Group LLC now owns 17,936 shares of the company’s stock worth $518,000 after acquiring an additional 7,881 shares during the last quarter. UMB Bank n.a. boosted its position in Coterra Energy by 22.0% during the first quarter. UMB Bank n.a. now owns 5,312 shares of the company’s stock worth $154,000 after acquiring an additional 958 shares during the last quarter. Wedmont Private Capital boosted its position in Coterra Energy by 15.3% during the first quarter. Wedmont Private Capital now owns 12,072 shares of the company’s stock worth $349,000 after acquiring an additional 1,601 shares during the last quarter. Capital Investment Advisors LLC boosted its position in Coterra Energy by 2.2% during the first quarter. Capital Investment Advisors LLC now owns 30,323 shares of the company’s stock worth $876,000 after acquiring an additional 650 shares during the last quarter. Finally, Toth Financial Advisory Corp boosted its position in Coterra Energy by 30,350.0% during the first quarter. Toth Financial Advisory Corp now owns 30,450 shares of the company’s stock worth $880,000 after acquiring an additional 30,350 shares during the last quarter. 87.92% of the stock is currently owned by institutional investors and hedge funds.

Coterra Energy Trading Up 2.8%

NYSE CTRA opened at $24.51 on Wednesday. The firm’s 50-day moving average is $23.94 and its two-hundred day moving average is $24.90. Coterra Energy Inc. has a 12 month low of $22.46 and a 12 month high of $29.95. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.13 and a quick ratio of 1.08. The stock has a market capitalization of $18.70 billion, a P/E ratio of 11.72, a PEG ratio of 0.34 and a beta of 0.29.

Coterra Energy (NYSE:CTRA) last posted 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). Coterra Energy had a net margin of 23.80% and a return on equity of 10.99%. The company had revenue of $1.97 billion during the quarter, compared to analyst estimates of $1.78 billion. During the same period in the previous year, the company earned $0.37 EPS. The company’s quarterly revenue was up 54.6% compared to the same quarter last year. On average, sell-side analysts anticipate that Coterra Energy Inc. will post 1.54 earnings per share for the current year.

Coterra Energy Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, August 28th. Shareholders of record on Thursday, August 14th were given a $0.22 dividend. The ex-dividend date of this dividend was Thursday, August 14th. This represents a $0.88 dividend on an annualized basis and a yield of 3.6%. Coterra Energy’s dividend payout ratio is presently 42.11%.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the stock. Piper Sandler boosted their price target on shares of Coterra Energy from $37.00 to $39.00 and gave the stock an “overweight” rating in a research report on Thursday, August 14th. Mizuho dropped their price objective on shares of Coterra Energy from $36.00 to $33.00 and set an “outperform” rating for the company in a report on Monday, September 15th. JPMorgan Chase & Co. upped their price objective on shares of Coterra Energy from $33.00 to $35.00 and gave the company an “overweight” rating in a report on Tuesday. The Goldman Sachs Group reissued a “neutral” rating and issued a $31.00 price objective on shares of Coterra Energy in a report on Tuesday, July 1st. Finally, Scotiabank reissued 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 assigned a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $33.22.

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.