Coterra Energy Inc. (NYSE:CTRA) Shares Sold by Moran Wealth Management LLC

Moran Wealth Management LLC lowered its stake in Coterra Energy Inc. (NYSE:CTRA) by 0.7% during the third quarter, Holdings Channel.com reports. The fund owned 383,221 shares of the company’s stock after selling 2,814 shares during the quarter. Moran Wealth Management LLC’s holdings in Coterra Energy were worth $9,178,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Fortitude Family Office LLC grew its position in shares of Coterra Energy by 154.9% in the second quarter. Fortitude Family Office LLC now owns 933 shares of the company’s stock valued at $25,000 after purchasing an additional 567 shares in the last quarter. Larson Financial Group LLC lifted its position in shares of Coterra Energy by 98.0% during the 2nd quarter. Larson Financial Group LLC now owns 1,081 shares of the company’s stock worth $29,000 after purchasing an additional 535 shares during the last quarter. EverSource Wealth Advisors LLC boosted its holdings in Coterra Energy by 31.0% in the first quarter. EverSource Wealth Advisors LLC now owns 2,351 shares of the company’s stock valued at $64,000 after purchasing an additional 557 shares in the last quarter. Values First Advisors Inc. acquired a new stake in Coterra Energy during the 3rd quarter worth $57,000. Finally, Family Firm Inc. purchased a new stake in shares of Coterra Energy in the 2nd quarter valued at about $68,000. Institutional investors and hedge funds own 87.92% of the company’s stock.

Coterra Energy Stock Performance

NYSE CTRA traded up $0.09 on Wednesday, hitting $26.38. The stock had a trading volume of 943,435 shares, compared to its average volume of 6,224,301. Coterra Energy Inc. has a one year low of $22.30 and a one year high of $28.90. The stock has a market cap of $19.43 billion, a price-to-earnings ratio of 15.84, a P/E/G ratio of 1.67 and a beta of 0.22. The company’s 50-day moving average is $24.02 and its two-hundred day moving average is $25.44. The company has a quick ratio of 1.56, a current ratio of 1.61 and a debt-to-equity ratio of 0.16.

Coterra Energy (NYSE:CTRA) last issued its quarterly earnings results on Thursday, October 31st. The company reported $0.32 EPS for the quarter, missing the consensus estimate of $0.35 by ($0.03). The business had revenue of $1.36 billion during the quarter, compared to the consensus estimate of $1.28 billion. Coterra Energy had a return on equity of 9.38% and a net margin of 21.91%. Coterra Energy’s revenue was up .2% compared to the same quarter last year. During the same quarter last year, the firm posted $0.47 earnings per share. On average, analysts expect that Coterra Energy Inc. will post 1.53 earnings per share for the current year.

Coterra Energy Dividend Announcement

The company also recently announced 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 annualized dividend and a dividend yield of 3.18%. The ex-dividend date of this dividend is Thursday, November 14th. Coterra Energy’s dividend payout ratio (DPR) is currently 50.60%.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on CTRA. Wells Fargo & Company increased their target price on shares of Coterra Energy from $32.00 to $35.00 and gave the stock an “overweight” rating in a research note on Friday, November 15th. Susquehanna increased their price target on shares of Coterra Energy from $30.00 to $33.00 and gave the stock a “positive” rating in a report on Thursday, November 14th. Scotiabank dropped their price objective on Coterra Energy from $35.00 to $32.00 and set a “sector outperform” rating for the company in a research note on Thursday, October 10th. Truist Financial upped their price objective on Coterra Energy from $31.00 to $33.00 and gave the company a “buy” rating in a research report on Thursday, November 14th. Finally, Roth Capital upgraded shares of Coterra Energy from a “hold” rating to a “strong-buy” rating in a report on Tuesday, August 27th. Two investment analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Coterra Energy currently has an average rating of “Moderate Buy” and an average target price of $32.41.

Coterra Energy Company 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.