LPL Financial LLC Decreases Position in Coterra Energy Inc. (NYSE:CTRA)

LPL Financial LLC lowered its position in Coterra Energy Inc. (NYSE:CTRA) by 4.0% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor 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 hedge funds and other institutional investors have also made changes to their positions in the company. Raymond James Financial Services Advisors Inc. acquired a new position in shares of Coterra Energy in the first quarter worth $1,267,000. D.A. Davidson & CO. acquired a new position in Coterra Energy in the 1st quarter valued at about $305,000. Yousif Capital Management LLC purchased a new position in Coterra Energy in the 1st quarter valued at about $3,011,000. Raymond James Trust N.A. acquired a new stake in shares of Coterra Energy during the 1st quarter worth about $400,000. Finally, BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp purchased a new stake in shares of Coterra Energy during the first quarter worth about $3,218,000. Institutional investors and hedge funds own 92.59% of the company’s stock.

Wall Street Analyst Weigh In

CTRA has been the topic of several recent analyst reports. Stifel Nicolaus upped their price objective on shares of Coterra Energy from $35.00 to $36.00 and gave the company a “buy” rating in a research note on Friday, August 18th. Stephens restated an “overweight” rating and set a $32.00 price objective on shares of Coterra Energy in a report on Tuesday, August 8th. Mizuho lifted their price objective on Coterra Energy from $39.00 to $42.00 and gave the company a “buy” rating in a research report on Wednesday, August 16th. Piper Sandler upgraded Coterra Energy from a “neutral” rating to an “overweight” rating and increased their target price for the stock from $30.00 to $35.00 in a research report on Monday, August 14th. Finally, Morgan Stanley lifted their price target on Coterra Energy from $26.00 to $27.00 and gave the company an “equal weight” rating in a report on Friday, August 18th. Thirteen research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $31.00.

Coterra Energy Stock Performance

Shares of CTRA stock opened at $27.74 on Friday. 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 company has a market cap of $20.95 billion, a PE ratio of 6.95, a P/E/G ratio of 0.22 and a beta of 0.29. The company’s fifty day simple moving average is $26.47 and its 200-day simple moving average is $25.34. Coterra Energy Inc. has a 52 week low of $22.25 and a 52 week high of $32.47.

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

Coterra Energy Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, August 31st. Investors of record on Thursday, August 17th will be issued a $0.20 dividend. The ex-dividend date of this dividend is Wednesday, August 16th. This represents a $0.80 annualized dividend and a yield of 2.88%. Coterra Energy’s dividend payout ratio is presently 20.05%.

About Coterra Energy

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.