Verdence Capital Advisors LLC Cuts Stock Position in Coterra Energy Inc. (NYSE:CTRA)

Verdence Capital Advisors LLC decreased its holdings in shares of Coterra Energy Inc. (NYSE:CTRA) by 70.2% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 28,868 shares of the company’s stock after selling 68,025 shares during the quarter. Verdence Capital Advisors LLC’s holdings in Coterra Energy were worth $691,000 as of its most recent SEC filing.

Other institutional investors have also bought and sold shares of the company. King Luther Capital Management Corp increased its position in shares of Coterra Energy by 4.4% during the 2nd quarter. King Luther Capital Management Corp now owns 6,783,690 shares of the company’s stock valued at $180,921,000 after purchasing an additional 285,774 shares during the last quarter. Disciplined Growth Investors Inc. MN increased its position in Coterra Energy by 1.0% during the second quarter. Disciplined Growth Investors Inc. MN now owns 5,063,920 shares of the company’s stock valued at $135,055,000 after acquiring an additional 51,249 shares during the last quarter. American Century Companies Inc. raised its stake in shares of Coterra Energy by 29.1% in the second quarter. American Century Companies Inc. now owns 4,498,227 shares of the company’s stock valued at $119,968,000 after acquiring an additional 1,013,107 shares during the period. Equity Investment Corp lifted its holdings in shares of Coterra Energy by 0.7% in the 2nd quarter. Equity Investment Corp now owns 3,227,678 shares of the company’s stock worth $86,082,000 after acquiring an additional 22,017 shares during the last quarter. Finally, Captrust Financial Advisors boosted its stake in shares of Coterra Energy by 4.6% during the 1st quarter. Captrust Financial Advisors now owns 2,952,024 shares of the company’s stock worth $78,422,000 after purchasing an additional 128,720 shares during the period. Institutional investors own 87.92% of the company’s stock.

Analysts Set New Price Targets

Several analysts have issued reports on the stock. Wells Fargo & Company decreased their price objective on shares of Coterra Energy from $34.00 to $32.00 and set an “overweight” rating for the company in a research note on Tuesday, October 1st. Wolfe Research began coverage on Coterra Energy in a research note on Thursday, July 18th. They set an “outperform” rating and a $35.00 price target for the company. Truist Financial cut their price objective on Coterra Energy from $34.00 to $31.00 and set a “buy” rating on the stock in a research report on Monday, September 30th. Barclays decreased their target price on Coterra Energy from $33.00 to $31.00 and set an “overweight” rating for the company in a research report on Thursday, October 3rd. Finally, Susquehanna cut their price target on shares of Coterra Energy from $33.00 to $30.00 and set a “positive” rating on the stock in a report on Wednesday, September 4th. Two investment 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 company currently has a consensus rating of “Moderate Buy” and a consensus target price of $31.29.

Coterra Energy Stock Up 0.7 %

Coterra Energy stock opened at $24.58 on Monday. The company has a quick ratio of 1.38, a current ratio of 1.61 and a debt-to-equity ratio of 0.16. The firm has a market cap of $18.11 billion, a P/E ratio of 14.81, a P/E/G ratio of 1.54 and a beta of 0.22. The business has a fifty day moving average of $23.77 and a two-hundred day moving average of $25.54. Coterra Energy Inc. has a twelve month low of $22.30 and a twelve month high of $28.90.

Coterra Energy (NYSE:CTRA) last issued its quarterly earnings data on Thursday, October 31st. The company reported $0.32 earnings per share for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.03). Coterra Energy had a return on equity of 9.38% and a net margin of 21.91%. The company had revenue of $1.36 billion for the quarter, compared to analysts’ expectations of $1.28 billion. During the same quarter last year, the company earned $0.47 earnings per share. The company’s revenue for the quarter was up .2% compared to the same quarter last year. On average, analysts forecast that Coterra Energy Inc. will post 1.59 earnings per share for the current fiscal year.

Coterra Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 27th. Stockholders of record on Thursday, November 14th will be given a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a dividend yield of 3.42%. The ex-dividend date of this dividend is Thursday, November 14th. Coterra Energy’s payout ratio is currently 50.60%.

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.