Legacy Wealth Managment LLC ID Trims Stock Position in Coterra Energy Inc. $CTRA

Legacy Wealth Managment LLC ID cut its stake in shares of Coterra Energy Inc. (NYSE:CTRA) by 25.8% in the 1st quarter, Holdings Channel reports. The fund owned 2,697 shares of the company’s stock after selling 939 shares during the quarter. Legacy Wealth Managment LLC ID’s holdings in Coterra Energy were worth $78,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Coordinated Financial Services Inc. CO purchased a new stake in Coterra Energy during the 1st quarter valued at approximately $217,000. Scientech Research LLC purchased a new position in Coterra Energy during the 1st quarter worth $660,000. Pingora Partners LLC raised its position in Coterra Energy by 0.8% during the 1st quarter. Pingora Partners LLC now owns 139,041 shares of the company’s stock worth $4,018,000 after buying an additional 1,124 shares during the last quarter. NFJ Investment Group LLC purchased a new position in Coterra Energy during the 1st quarter worth $14,614,000. Finally, Nissay Asset Management Corp Japan ADV raised its position in Coterra Energy by 0.7% during the 1st quarter. Nissay Asset Management Corp Japan ADV now owns 89,765 shares of the company’s stock worth $2,594,000 after buying an additional 591 shares during the last quarter. 87.92% of the stock is owned by hedge funds and other institutional investors.

Coterra Energy Stock Performance

NYSE CTRA opened at $23.95 on Friday. Coterra Energy Inc. has a 1-year low of $22.30 and a 1-year high of $29.95. The company has a market capitalization of $18.27 billion, a P/E ratio of 11.46, a PEG ratio of 0.32 and a beta of 0.34. The business has a 50 day moving average price of $24.24 and a 200 day moving average price of $25.43. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.13 and a quick ratio of 1.08.

Coterra Energy (NYSE:CTRA) last released 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 net margin of 23.80% and a return on equity of 10.99%. The firm had revenue of $1.97 billion during the quarter, compared to analysts’ expectations of $1.78 billion. During the same period in the previous year, the business earned $0.37 earnings per share. The business’s revenue for the quarter was up 54.6% on a year-over-year basis. Sell-side analysts expect that Coterra Energy Inc. will post 1.54 EPS for the current fiscal year.

Coterra Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 28th. Shareholders of record on Thursday, August 14th were issued a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a yield of 3.7%. The ex-dividend date was Thursday, August 14th. Coterra Energy’s dividend payout ratio (DPR) is 42.11%.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. Scotiabank restated an “outperform” rating on shares of Coterra Energy in a research report on Friday, July 11th. Piper Sandler upped their price objective on Coterra Energy from $37.00 to $39.00 and gave the stock an “overweight” rating in a report on Thursday, August 14th. Wells Fargo & Company upped their price objective on Coterra Energy from $32.00 to $33.00 and gave the stock an “overweight” rating in a report on Thursday, August 14th. Raymond James Financial set a $38.00 price objective on Coterra Energy and gave the stock an “outperform” rating in a report on Friday, June 13th. Finally, Pickering Energy Partners lowered Coterra Energy from an “outperform” rating to a “neutral” rating in a report on Tuesday, May 20th. Fourteen investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $33.61.

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.