Coterra Energy Inc. (NYSE:CTRA) Shares Sold by LPL Financial LLC

LPL Financial LLC trimmed its position in shares of Coterra Energy Inc. (NYSE:CTRA) by 4.0% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 508,372 shares of the company’s stock after selling 21,386 shares during the quarter. LPL Financial LLC owned 0.07% of Coterra Energy worth $12,475,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. acquired a new stake in shares of Coterra Energy in the first quarter valued at about $2,472,575,000. State Street Corp purchased a new stake in shares of Coterra Energy during the 1st quarter worth approximately $1,493,855,000. Northern Trust Corp purchased a new stake in shares of Coterra Energy during the 1st quarter worth approximately $300,998,000. Invesco Ltd. acquired a new stake in shares of Coterra Energy in the 1st quarter worth approximately $169,781,000. Finally, Charles Schwab Investment Management Inc. purchased a new position in Coterra Energy in the 1st quarter valued at approximately $151,999,000. 92.59% of the stock is owned by hedge funds and other institutional investors.

Coterra Energy Price Performance

Shares of Coterra Energy stock opened at $27.74 on Friday. The business’s fifty day moving average price is $26.47 and its 200 day moving average price is $25.34. Coterra Energy Inc. has a twelve month low of $22.25 and a twelve month high of $32.47. The company has a current ratio of 1.74, a quick ratio of 1.67 and a debt-to-equity ratio of 0.17. The stock has a market capitalization of $20.95 billion, a P/E ratio of 6.95, a PEG ratio of 0.22 and a beta of 0.29.

Coterra Energy (NYSE:CTRA) last released its quarterly earnings data on Monday, August 7th. The company reported $0.38 EPS for the quarter, topping analysts’ consensus estimates of $0.36 by $0.02. Coterra Energy had a return on equity of 23.06% and a net margin of 40.12%. The company had revenue of $1.19 billion for the quarter, compared to the consensus estimate of $1.28 billion. As a group, research analysts anticipate that Coterra Energy Inc. will post 2.29 earnings per share for the current year.

Coterra Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, August 31st. Shareholders of record on Thursday, August 17th will be paid a dividend of $0.20 per share. The ex-dividend date is Wednesday, August 16th. This represents a $0.80 annualized dividend and a yield of 2.88%. Coterra Energy’s dividend payout ratio is currently 20.05%.

Analysts Set New Price Targets

Several analysts have weighed in on CTRA shares. Stephens restated an “overweight” rating and issued a $32.00 price target on shares of Coterra Energy in a research report on Tuesday, August 8th. Stifel Nicolaus lifted their target price on shares of Coterra Energy from $35.00 to $36.00 and gave the stock a “buy” rating in a research report on Friday, August 18th. UBS Group increased their price target on shares of Coterra Energy from $25.00 to $33.00 and gave the company a “neutral” rating in a research report on Thursday, August 17th. JPMorgan Chase & Co. raised Coterra Energy from a “neutral” rating to an “overweight” rating and cut their price target for the stock from $33.00 to $31.00 in a report on Tuesday, June 27th. Finally, Piper Sandler raised Coterra Energy from a “neutral” rating to an “overweight” rating and increased their price objective for the company from $30.00 to $35.00 in a research note on Monday, August 14th. Thirteen investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, Coterra Energy currently has an average rating of “Hold” and a consensus target price of $31.00.

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 primarily focuses on the Marcellus Shale with approximately 183,000 net acres in the dry gas window of the play located in Susquehanna County, Pennsylvania.