Coterra Energy Inc. $CTRA Shares Sold by Russell Investments Group Ltd.

Russell Investments Group Ltd. decreased its stake in shares of Coterra Energy Inc. (NYSE:CTRA) by 40.9% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 568,031 shares of the company’s stock after selling 393,528 shares during the quarter. Russell Investments Group Ltd. owned approximately 0.07% of Coterra Energy worth $14,417,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Horizon Investments LLC increased its stake in shares of Coterra Energy by 4.5% during the first quarter. Horizon Investments LLC now owns 10,935 shares of the company’s stock worth $316,000 after buying an additional 474 shares during the period. Wellington Shields Capital Management LLC increased its position in shares of Coterra Energy by 5.4% in the 2nd quarter. Wellington Shields Capital Management LLC now owns 9,725 shares of the company’s stock valued at $247,000 after purchasing an additional 500 shares during the last quarter. Fifth Third Wealth Advisors LLC raised its holdings in shares of Coterra Energy by 5.3% in the 2nd quarter. Fifth Third Wealth Advisors LLC now owns 10,534 shares of the company’s stock valued at $267,000 after purchasing an additional 533 shares in the last quarter. MassMutual Private Wealth & Trust FSB lifted its position in shares of Coterra Energy by 26.1% during the 2nd quarter. MassMutual Private Wealth & Trust FSB now owns 2,685 shares of the company’s stock worth $68,000 after purchasing an additional 555 shares during the last quarter. Finally, Old North State Wealth Management LLC grew its stake in shares of Coterra Energy by 4.7% during the second quarter. Old North State Wealth Management LLC now owns 12,666 shares of the company’s stock worth $322,000 after purchasing an additional 565 shares in the last quarter. Hedge funds and other institutional investors own 87.92% of the company’s stock.

Wall Street Analysts Forecast Growth

CTRA has been the subject of a number of recent analyst reports. Roth Capital reaffirmed a “buy” rating and set a $27.00 price target on shares of Coterra Energy in a report on Tuesday, November 4th. Mizuho decreased their target price on Coterra Energy from $36.00 to $33.00 and set an “outperform” rating for the company in a research note on Monday, September 15th. The Goldman Sachs Group dropped their price target on shares of Coterra Energy from $30.00 to $29.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 15th. Stephens reduced their price objective on shares of Coterra Energy from $34.00 to $33.00 and set an “overweight” rating for the company in a research report on Tuesday, October 21st. Finally, Piper Sandler lowered their target price on shares of Coterra Energy from $38.00 to $37.00 and set an “overweight” rating for the company in a report on Tuesday, November 18th. Seventeen analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $32.86.

Coterra Energy Stock Up 0.5%

CTRA stock opened at $26.98 on Tuesday. The company has a market cap of $20.54 billion, a price-to-earnings ratio of 12.91, a price-to-earnings-growth ratio of 0.36 and a beta of 0.30. The company has a fifty day moving average price of $24.59 and a 200 day moving average price of $24.63. 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 Inc. has a 12 month low of $22.33 and a 12 month high of $29.95.

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

Coterra Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, November 26th. Shareholders of record on Thursday, November 13th were given 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 of this dividend was Thursday, November 13th. Coterra Energy’s dividend payout ratio (DPR) is presently 40.55%.

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.