Creative Planning Decreases Holdings in Coterra Energy Inc. $CTRA

Creative Planning trimmed its holdings in Coterra Energy Inc. (NYSE:CTRA) by 16.4% in the second quarter, according to the company in its most recent filing with the SEC. The fund owned 65,266 shares of the company’s stock after selling 12,798 shares during the quarter. Creative Planning’s holdings in Coterra Energy were worth $1,656,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Horizon Investments LLC lifted its stake in Coterra Energy by 4.5% in the first quarter. Horizon Investments LLC now owns 10,935 shares of the company’s stock worth $316,000 after purchasing an additional 474 shares during the last quarter. Wellington Shields Capital Management LLC increased its holdings in shares of Coterra Energy by 5.4% in the second quarter. Wellington Shields Capital Management LLC now owns 9,725 shares of the company’s stock worth $247,000 after buying an additional 500 shares during the period. Fifth Third Wealth Advisors LLC lifted its stake in shares of Coterra Energy by 5.3% in the 2nd quarter. Fifth Third Wealth Advisors LLC now owns 10,534 shares of the company’s stock valued at $267,000 after acquiring an additional 533 shares during the last quarter. MassMutual Private Wealth & Trust FSB lifted its stake in shares of Coterra Energy by 26.1% in the 2nd quarter. MassMutual Private Wealth & Trust FSB now owns 2,685 shares of the company’s stock valued at $68,000 after acquiring an additional 555 shares during the last quarter. Finally, Old North State Wealth Management LLC boosted its holdings in Coterra Energy by 4.7% during the 2nd quarter. Old North State Wealth Management LLC now owns 12,666 shares of the company’s stock valued at $322,000 after acquiring an additional 565 shares during the period. Institutional investors own 87.92% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have weighed in on the company. UBS Group boosted their price objective on Coterra Energy from $29.00 to $32.00 and gave the company a “buy” rating in a research report on Monday. Roth Capital reiterated a “buy” rating and set a $27.00 price target on shares of Coterra Energy in a report on Tuesday, November 4th. The Goldman Sachs Group dropped their price target on shares of Coterra Energy from $30.00 to $29.00 and set a “neutral” rating for the company in a research report on Wednesday, October 15th. Zacks Research cut shares of Coterra Energy from a “hold” rating to a “strong sell” rating in a research report on Monday, October 13th. Finally, JPMorgan Chase & Co. lowered their price objective on shares of Coterra Energy from $35.00 to $34.00 and set an “overweight” rating for the company in a research note on Wednesday, November 5th. Seventeen investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, Coterra Energy currently has a consensus rating of “Moderate Buy” and a consensus price target of $32.86.

Coterra Energy Stock Performance

Coterra Energy stock opened at $26.42 on Friday. The stock’s 50 day simple moving average is $24.44 and its two-hundred day simple moving average is $24.60. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.08 and a current ratio of 1.13. The stock has a market cap of $20.11 billion, a price-to-earnings ratio of 12.64, a PEG ratio of 0.36 and a beta of 0.30. Coterra Energy Inc. has a fifty-two week low of $22.33 and a fifty-two week high of $29.95.

Coterra Energy (NYSE:CTRA) last announced its earnings results on Monday, November 3rd. The company reported $0.41 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.43 by ($0.02). Coterra Energy had a return on equity of 10.99% and a net margin of 23.80%.The firm had revenue of $1.82 billion during the quarter, compared to the consensus estimate of $1.83 billion. During the same period in the prior year, the company posted $0.32 EPS. The firm’s revenue was up 33.7% on a year-over-year basis. As a group, 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 disclosed a quarterly dividend, which was paid on Wednesday, November 26th. Shareholders of record on Thursday, November 13th were given a dividend of $0.22 per share. The ex-dividend date of this dividend was Thursday, November 13th. This represents a $0.88 annualized dividend and a yield of 3.3%. Coterra Energy’s dividend payout ratio (DPR) is currently 40.55%.

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.