Viking Fund Management LLC Sells 40,000 Shares of Coterra Energy Inc. $CTRA

Viking Fund Management LLC trimmed its stake in shares of Coterra Energy Inc. (NYSE:CTRA) by 36.4% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 70,000 shares of the company’s stock after selling 40,000 shares during the period. Viking Fund Management LLC’s holdings in Coterra Energy were worth $1,656,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in CTRA. Vanguard Group Inc. raised its stake in shares of Coterra Energy by 3.1% in the 2nd quarter. Vanguard Group Inc. now owns 95,209,961 shares of the company’s stock valued at $2,416,429,000 after purchasing an additional 2,872,288 shares during the period. State Street Corp grew its holdings in shares of Coterra Energy by 0.9% during the second quarter. State Street Corp now owns 45,588,319 shares of the company’s stock worth $1,157,032,000 after buying an additional 386,526 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of Coterra Energy by 5.9% during the second quarter. Charles Schwab Investment Management Inc. now owns 26,800,493 shares of the company’s stock worth $680,197,000 after buying an additional 1,495,553 shares in the last quarter. Geode Capital Management LLC raised its position in Coterra Energy by 4.8% in the 2nd quarter. Geode Capital Management LLC now owns 20,685,670 shares of the company’s stock valued at $522,936,000 after buying an additional 953,824 shares during the last quarter. Finally, Schroder Investment Management Group lifted its stake in Coterra Energy by 1.1% in the 2nd quarter. Schroder Investment Management Group now owns 13,575,101 shares of the company’s stock valued at $344,536,000 after acquiring an additional 141,830 shares in the last quarter. 87.92% of the stock is owned by institutional investors and hedge funds.

Coterra Energy Stock Down 0.1%

Shares of CTRA stock opened at $25.40 on Friday. Coterra Energy Inc. has a 52-week low of $22.33 and a 52-week high of $29.95. The stock has a market cap of $19.34 billion, a price-to-earnings ratio of 11.71, a PEG ratio of 0.43 and a beta of 0.33. The firm’s 50-day moving average is $25.36 and its 200-day moving average is $24.80. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.98 and a current ratio of 1.02.

Coterra Energy (NYSE:CTRA) last announced its quarterly earnings results on Monday, November 3rd. The company reported $0.41 earnings per share for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.02). The business had revenue of $1.82 billion for the quarter, compared to analyst estimates of $1.83 billion. Coterra Energy had a return on equity of 11.23% and a net margin of 23.25%.Coterra Energy’s quarterly revenue was up 33.7% compared to the same quarter last year. During the same period last year, the firm earned $0.32 EPS. Sell-side analysts predict that Coterra Energy Inc. will post 1.54 EPS for the current year.

Coterra Energy Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, November 26th. Investors of record on Thursday, November 13th were issued a dividend of $0.22 per share. The ex-dividend date of this dividend was Thursday, November 13th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 3.5%. Coterra Energy’s payout ratio is presently 40.55%.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on CTRA shares. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Coterra Energy in a research note on Monday, December 15th. Morgan Stanley decreased their target price on shares of Coterra Energy from $29.00 to $28.00 and set an “equal weight” rating for the company in a research report on Tuesday, October 14th. The Goldman Sachs Group lowered their price target on shares of Coterra Energy from $30.00 to $29.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 15th. Barclays reduced their price objective on shares of Coterra Energy from $37.00 to $35.00 and set an “overweight” rating for the company in a research note on Tuesday, October 7th. Finally, UBS Group raised their price objective on Coterra Energy from $32.00 to $33.00 and gave the company a “buy” rating in a report on Friday, December 12th. Seventeen research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. According to data from MarketBeat, Coterra Energy currently has a consensus rating of “Moderate Buy” and an average price target of $32.86.

Coterra Energy Company Profile

Coterra Energy (NYSE: CTRA) is an independent oil and natural gas exploration and production company focused on the development, production and optimization of onshore hydrocarbon resources in the United States. The company’s operations center on the exploration, drilling, completion and production of crude oil, natural gas and natural gas liquids (NGLs), with an emphasis on maximizing operational efficiency and capital discipline across its asset base.

Its business activities include identifying and developing resource-rich acreage, operating producing wells, managing reservoir performance and marketing produced hydrocarbons to a range of midstream and energy customers.