Rafferty Asset Management LLC Sells 117,689 Shares of Coterra Energy Inc. (NYSE:CTRA)

Rafferty Asset Management LLC reduced its position in Coterra Energy Inc. (NYSE:CTRAGet Rating) by 15.7% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 632,631 shares of the company’s stock after selling 117,689 shares during the quarter. Rafferty Asset Management LLC owned approximately 0.08% of Coterra Energy worth $16,316,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Capital Analysts LLC acquired a new position in Coterra Energy during the first quarter worth $27,000. Larson Financial Group LLC acquired a new position in Coterra Energy during the first quarter worth $28,000. BerganKDV Wealth Management LLC acquired a new position in Coterra Energy during the first quarter worth $29,000. Eagle Bay Advisors LLC acquired a new position in Coterra Energy during the first quarter worth $29,000. Finally, Patriot Financial Group Insurance Agency LLC raised its stake in Coterra Energy by 239.3% during the second quarter. Patriot Financial Group Insurance Agency LLC now owns 1,106 shares of the company’s stock worth $29,000 after acquiring an additional 780 shares in the last quarter. 93.39% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on CTRA shares. Citigroup increased their price objective on Coterra Energy from $27.00 to $30.00 and gave the stock a “neutral” rating in a research note on Wednesday, September 21st. Piper Sandler cut their price target on Coterra Energy from $33.00 to $31.00 and set a “neutral” rating for the company in a report on Thursday, November 17th. Raymond James cut their price target on Coterra Energy from $42.00 to $36.00 and set an “outperform” rating for the company in a report on Monday, October 24th. Barclays cut their price target on Coterra Energy from $43.00 to $39.00 and set an “equal weight” rating for the company in a report on Wednesday, October 19th. Finally, Wolfe Research raised Coterra Energy from an “underperform” rating to a “peer perform” rating in a report on Monday, November 7th. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $34.00.

Coterra Energy Trading Up 0.1 %

NYSE:CTRA traded up $0.04 on Thursday, hitting $27.54. 6,538,512 shares of the stock were exchanged, compared to its average volume of 11,088,288. The stock has a market capitalization of $21.71 billion, a price-to-earnings ratio of 5.56, a P/E/G ratio of 0.10 and a beta of 0.23. Coterra Energy Inc. has a 52 week low of $18.39 and a 52 week high of $36.55. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.62 and a current ratio of 1.66. The company’s 50-day moving average price is $28.56 and its 200 day moving average price is $29.37.

Coterra Energy (NYSE:CTRAGet Rating) last announced its quarterly earnings data on Thursday, November 3rd. The company reported $1.39 earnings per share for the quarter, topping the consensus estimate of $1.34 by $0.05. The firm had revenue of $2.52 billion during the quarter, compared to analysts’ expectations of $2.43 billion. Coterra Energy had a return on equity of 29.82% and a net margin of 44.15%. On average, equities research analysts forecast that Coterra Energy Inc. will post 4.88 earnings per share for the current year.

Coterra Energy Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 30th. Stockholders of record on Wednesday, November 16th will be given a dividend of $0.68 per share. This is a positive change from Coterra Energy’s previous quarterly dividend of $0.15. This represents a $2.72 annualized dividend and a dividend yield of 9.88%. The ex-dividend date is Tuesday, November 15th. Coterra Energy’s payout ratio is presently 12.12%.

Coterra Energy Company Profile

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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. It primarily focuses on the Marcellus Shale with approximately 177,000 net acres in the dry gas window of the play located in Susquehanna County, Pennsylvania.

Further Reading

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Institutional Ownership by Quarter for Coterra Energy (NYSE:CTRA)

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