Impact Partnership Wealth LLC Sells 21,026 Shares of Coterra Energy Inc. $CTRA

Impact Partnership Wealth LLC lessened its stake in shares of Coterra Energy Inc. (NYSE:CTRA) by 56.9% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 15,955 shares of the company’s stock after selling 21,026 shares during the period. Impact Partnership Wealth LLC’s holdings in Coterra Energy were worth $377,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of the stock. Janney Montgomery Scott LLC boosted its position in shares of Coterra Energy by 2.7% during the 2nd quarter. Janney Montgomery Scott LLC now owns 258,443 shares of the company’s stock worth $6,559,000 after purchasing an additional 6,717 shares in the last quarter. HB Wealth Management LLC boosted its holdings in Coterra Energy by 35.5% in the second quarter. HB Wealth Management LLC now owns 14,846 shares of the company’s stock worth $377,000 after acquiring an additional 3,887 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. grew its stake in Coterra Energy by 15.4% in the second quarter. Mirae Asset Global Investments Co. Ltd. now owns 785,835 shares of the company’s stock valued at $19,944,000 after acquiring an additional 104,999 shares during the period. QRG Capital Management Inc. increased its holdings in shares of Coterra Energy by 2.7% during the second quarter. QRG Capital Management Inc. now owns 85,727 shares of the company’s stock valued at $2,176,000 after acquiring an additional 2,227 shares in the last quarter. Finally, Checchi Capital Advisers LLC raised its position in shares of Coterra Energy by 7.7% during the second quarter. Checchi Capital Advisers LLC now owns 12,234 shares of the company’s stock worth $310,000 after purchasing an additional 876 shares during the period. 87.92% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on CTRA shares. William Blair initiated coverage on shares of Coterra Energy in a research report on Wednesday, November 26th. They issued an “outperform” rating and a $36.00 price target for the company. Barclays reduced their price objective on shares of Coterra Energy from $35.00 to $34.00 and set an “overweight” rating for the company in a report on Wednesday, January 21st. JPMorgan Chase & Co. decreased their target price on shares of Coterra Energy from $34.00 to $31.00 and set an “overweight” rating for the company in a research report on Monday, January 12th. UBS Group raised their price target on shares of Coterra Energy from $32.00 to $33.00 and gave the company a “buy” rating in a research report on Friday, December 12th. Finally, Scotiabank set a $31.00 price target on Coterra Energy in a research note on Friday, January 16th. Sixteen research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $32.81.

Coterra Energy Stock Performance

Shares of Coterra Energy stock opened at $28.84 on Friday. The business’s fifty day simple moving average is $26.31 and its 200 day simple moving average is $24.90. The company has a current ratio of 1.02, a quick ratio of 0.98 and a debt-to-equity ratio of 0.25. Coterra Energy Inc. has a 12 month low of $22.33 and a 12 month high of $29.82. The firm has a market capitalization of $21.96 billion, a P/E ratio of 13.29, a price-to-earnings-growth ratio of 0.66 and a beta of 0.36.

Coterra Energy (NYSE:CTRA) last released its earnings results on Monday, November 3rd. The company reported $0.41 EPS 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 the consensus estimate of $1.83 billion. Coterra Energy had a return on equity of 11.23% and a net margin of 23.25%.The company’s revenue for the quarter was up 33.7% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.32 earnings per share. As a group, analysts anticipate that Coterra Energy Inc. will post 1.54 EPS for the current year.

Coterra Energy Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, November 26th. Stockholders of record on Thursday, November 13th were paid a dividend of $0.22 per share. The ex-dividend date was Thursday, November 13th. This represents a $0.88 annualized dividend and a dividend yield of 3.1%. Coterra Energy’s dividend payout ratio (DPR) is presently 40.55%.

Coterra Energy 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.