Coterra Energy Inc. $CTRA Shares Sold by Prime Capital Investment Advisors LLC

Prime Capital Investment Advisors LLC decreased its position in Coterra Energy Inc. (NYSE:CTRA) by 5.4% during the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 20,834 shares of the company’s stock after selling 1,178 shares during the period. Prime Capital Investment Advisors LLC’s holdings in Coterra Energy were worth $529,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Cornerstone Planning Group LLC grew its stake in Coterra Energy by 175.6% in the 1st quarter. Cornerstone Planning Group LLC now owns 871 shares of the company’s stock valued at $25,000 after acquiring an additional 555 shares during the last quarter. Raleigh Capital Management Inc. grew its position in shares of Coterra Energy by 463.5% in the first quarter. Raleigh Capital Management Inc. now owns 896 shares of the company’s stock valued at $26,000 after purchasing an additional 737 shares during the last quarter. Banque Cantonale Vaudoise acquired a new stake in shares of Coterra Energy in the first quarter valued at approximately $29,000. Wayfinding Financial LLC acquired a new stake in shares of Coterra Energy in the first quarter valued at approximately $34,000. Finally, Catalyst Capital Advisors LLC acquired a new stake in shares of Coterra Energy in the first quarter valued at approximately $46,000. 87.92% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on CTRA shares. Piper Sandler increased their target price on Coterra Energy from $37.00 to $39.00 and gave the company an “overweight” rating in a report on Thursday, August 14th. The Goldman Sachs Group reaffirmed a “neutral” rating and set a $31.00 price objective on shares of Coterra Energy in a research note on Tuesday, July 1st. Barclays decreased their price objective on Coterra Energy from $37.00 to $35.00 and set an “overweight” rating on the stock in a research note on Tuesday. Raymond James Financial reaffirmed an “outperform” rating and set a $34.00 price target (down from $38.00) on shares of Coterra Energy in a research note on Thursday, September 11th. Finally, JPMorgan Chase & Co. raised their price target on shares of Coterra Energy from $33.00 to $35.00 and gave the stock an “overweight” rating in a research note on Tuesday. Fourteen investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to MarketBeat, Coterra Energy presently has a consensus rating of “Moderate Buy” and an average price target of $33.06.

Coterra Energy Stock Down 3.6%

CTRA opened at $22.78 on Friday. Coterra Energy Inc. has a 12 month low of $22.46 and a 12 month high of $29.95. The business has a 50-day moving average of $23.90 and a two-hundred day moving average of $24.81. 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 $17.38 billion, a price-to-earnings ratio of 10.90, a price-to-earnings-growth ratio of 0.33 and a beta of 0.29.

Coterra Energy (NYSE:CTRA) last announced its quarterly earnings data on Monday, August 4th. The company reported $0.48 earnings per share for the quarter, missing the consensus estimate of $0.50 by ($0.02). Coterra Energy had a return on equity of 10.99% and a net margin of 23.80%.The company had revenue of $1.97 billion for the quarter, compared to analysts’ expectations of $1.78 billion. During the same quarter in the previous year, the company earned $0.37 earnings per share. The company’s revenue was up 54.6% on a year-over-year basis. On average, research analysts expect that Coterra Energy Inc. will post 1.54 earnings per share for the current year.

Coterra Energy Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, August 28th. Shareholders of record on Thursday, August 14th were issued a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a dividend yield of 3.9%. The ex-dividend date was Thursday, August 14th. Coterra Energy’s dividend payout ratio (DPR) is 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.