Private Advisor Group LLC Sells 42,872 Shares of Coterra Energy Inc. (NYSE:CTRA)

Private Advisor Group LLC trimmed its holdings in Coterra Energy Inc. (NYSE:CTRA) by 24.1% during the third quarter, Holdings Channel reports. The institutional investor owned 134,796 shares of the company’s stock after selling 42,872 shares during the quarter. Private Advisor Group LLC’s holdings in Coterra Energy were worth $3,228,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Fortitude Family Office LLC lifted its position in Coterra Energy by 154.9% in the 2nd quarter. Fortitude Family Office LLC now owns 933 shares of the company’s stock valued at $25,000 after acquiring an additional 567 shares in the last quarter. Larson Financial Group LLC lifted its holdings in shares of Coterra Energy by 98.0% in the second quarter. Larson Financial Group LLC now owns 1,081 shares of the company’s stock valued at $29,000 after purchasing an additional 535 shares in the last quarter. Central Pacific Bank Trust Division purchased a new position in shares of Coterra Energy during the first quarter valued at approximately $44,000. EverSource Wealth Advisors LLC grew its holdings in Coterra Energy by 31.0% during the first quarter. EverSource Wealth Advisors LLC now owns 2,351 shares of the company’s stock worth $64,000 after buying an additional 557 shares in the last quarter. Finally, Family Firm Inc. purchased a new stake in Coterra Energy in the 2nd quarter valued at $68,000. 87.92% of the stock is currently owned by institutional investors and hedge funds.

Coterra Energy Price Performance

CTRA opened at $23.85 on Monday. The firm has a 50-day moving average price of $23.84 and a 200-day moving average price of $25.81. Coterra Energy Inc. has a twelve month low of $22.30 and a twelve month high of $28.90. The company has a quick ratio of 1.38, a current ratio of 1.40 and a debt-to-equity ratio of 0.16. The company has a market capitalization of $17.75 billion, a price-to-earnings ratio of 13.79, a PEG ratio of 1.41 and a beta of 0.22.

Coterra Energy (NYSE:CTRA) last released its quarterly earnings data on Thursday, August 1st. The company reported $0.37 earnings per share for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.02). The business had revenue of $1.27 billion during the quarter, compared to analysts’ expectations of $1.32 billion. Coterra Energy had a net margin of 23.18% and a return on equity of 10.48%. The firm’s quarterly revenue was up 7.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.38 earnings per share. Equities analysts expect that Coterra Energy Inc. will post 1.72 EPS for the current year.

Coterra Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 29th. Investors of record on Thursday, August 15th were issued a dividend of $0.21 per share. The ex-dividend date of this dividend was Thursday, August 15th. This represents a $0.84 dividend on an annualized basis and a yield of 3.52%. Coterra Energy’s dividend payout ratio (DPR) is 48.55%.

Analyst Ratings Changes

Several analysts have recently issued reports on CTRA shares. Truist Financial reduced their target price on shares of Coterra Energy from $34.00 to $31.00 and set a “buy” rating for the company in a research note on Monday, September 30th. Piper Sandler dropped their target price on shares of Coterra Energy from $39.00 to $31.00 and set an “overweight” rating on the stock in a research report on Thursday, August 15th. Barclays cut their target price on Coterra Energy from $33.00 to $31.00 and set an “overweight” rating on the stock in a research note on Thursday, October 3rd. Wells Fargo & Company decreased their price target on Coterra Energy from $34.00 to $32.00 and set an “overweight” rating for the company in a research report on Tuesday, October 1st. Finally, Scotiabank cut their price objective on Coterra Energy from $35.00 to $32.00 and set a “sector outperform” rating on the stock in a research report on Thursday, October 10th. Two analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $32.06.

Coterra Energy 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.