Steward Partners Investment Advisory LLC Sells 2,766 Shares of Coterra Energy Inc. $CTRA

Steward Partners Investment Advisory LLC lowered its stake in shares of Coterra Energy Inc. (NYSE:CTRA) by 5.9% during the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 44,234 shares of the company’s stock after selling 2,766 shares during the period. Steward Partners Investment Advisory LLC’s holdings in Coterra Energy were worth $1,123,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Cetera Investment Advisers raised its position in Coterra Energy by 7.1% during the first quarter. Cetera Investment Advisers now owns 178,462 shares of the company’s stock valued at $5,158,000 after purchasing an additional 11,800 shares in the last quarter. Banque Cantonale Vaudoise bought a new position in shares of Coterra Energy during the 1st quarter valued at about $29,000. Natixis Advisors LLC raised its holdings in shares of Coterra Energy by 4.1% during the 1st quarter. Natixis Advisors LLC now owns 415,152 shares of the company’s stock valued at $11,998,000 after buying an additional 16,319 shares in the last quarter. MONECO Advisors LLC lifted its position in Coterra Energy by 6.8% in the 1st quarter. MONECO Advisors LLC now owns 19,330 shares of the company’s stock worth $559,000 after buying an additional 1,230 shares during the last quarter. Finally, PNC Financial Services Group Inc. lifted its position in Coterra Energy by 5.8% in the 1st quarter. PNC Financial Services Group Inc. now owns 334,489 shares of the company’s stock worth $9,667,000 after buying an additional 18,445 shares during the last quarter. 87.92% of the stock is currently owned by hedge funds and other institutional investors.

Coterra Energy Trading Up 1.7%

NYSE:CTRA opened at $26.84 on Monday. The firm has a market capitalization of $20.43 billion, a P/E ratio of 12.84, a P/E/G ratio of 0.36 and a beta of 0.30. The company has a quick ratio of 1.08, a current ratio of 1.13 and a debt-to-equity ratio of 0.29. The company has a fifty day moving average of $24.51 and a 200 day moving average of $24.61. Coterra Energy Inc. has a 52 week low of $22.33 and a 52 week high of $29.95.

Coterra Energy (NYSE:CTRA) last released its quarterly earnings data on Monday, November 3rd. The company reported $0.41 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.02). The firm had revenue of $1.82 billion during the quarter, compared to analysts’ expectations of $1.83 billion. Coterra Energy had a net margin of 23.80% and a return on equity of 10.99%. Coterra Energy’s revenue was up 33.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.32 EPS. On average, research analysts predict that Coterra Energy Inc. will post 1.54 earnings per share for the current year.

Coterra Energy Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, November 26th. Investors of record on Thursday, November 13th were issued a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a yield of 3.3%. The ex-dividend date was Thursday, November 13th. Coterra Energy’s payout ratio is currently 40.55%.

Wall Street Analyst Weigh In

A number of brokerages have commented on CTRA. Wolfe Research reduced their price target on shares of Coterra Energy from $36.00 to $35.00 and set an “outperform” rating on the stock in a research report on Tuesday, November 4th. Wells Fargo & Company increased their target price on shares of Coterra Energy from $32.00 to $33.00 and gave the company an “overweight” rating in a report on Thursday, August 14th. Siebert Williams Shank decreased their target price on shares of Coterra Energy from $35.00 to $32.00 and set a “buy” rating on the stock in a research report on Monday, October 13th. JPMorgan Chase & Co. lowered their price target on shares of Coterra Energy from $35.00 to $34.00 and set an “overweight” rating for the company in a research note on Wednesday, November 5th. Finally, Susquehanna reduced their price objective on Coterra Energy from $32.00 to $31.00 and set a “positive” rating on the stock in a research note on Monday, October 20th. Seventeen research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $32.86.

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.