Federated Hermes Inc. Lowers Stock Position in Coterra Energy Inc. (NYSE:CTRA)

Federated Hermes Inc. lowered its position in Coterra Energy Inc. (NYSE:CTRA) by 87.0% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,707 shares of the company’s stock after selling 18,053 shares during the quarter. Federated Hermes Inc.’s holdings in Coterra Energy were worth $72,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its holdings in shares of Coterra Energy by 0.5% during the 4th quarter. Vanguard Group Inc. now owns 87,927,114 shares of the company’s stock worth $2,243,900,000 after purchasing an additional 407,244 shares during the period. Schroder Investment Management Group increased its holdings in Coterra Energy by 8.7% in the 4th quarter. Schroder Investment Management Group now owns 7,815,648 shares of the company’s stock valued at $199,455,000 after purchasing an additional 628,132 shares in the last quarter. American Century Companies Inc. raised its position in Coterra Energy by 29.1% in the second quarter. American Century Companies Inc. now owns 4,498,227 shares of the company’s stock valued at $119,968,000 after purchasing an additional 1,013,107 shares during the period. Equity Investment Corp lifted its stake in shares of Coterra Energy by 0.7% during the second quarter. Equity Investment Corp now owns 3,227,678 shares of the company’s stock worth $86,082,000 after purchasing an additional 22,017 shares in the last quarter. Finally, Captrust Financial Advisors boosted its position in shares of Coterra Energy by 4.6% in the first quarter. Captrust Financial Advisors now owns 2,952,024 shares of the company’s stock worth $78,422,000 after buying an additional 128,720 shares during the period. Hedge funds and other institutional investors own 87.92% of the company’s stock.

Wall Street Analyst Weigh In

CTRA has been the subject of several analyst reports. Roth Capital upgraded shares of Coterra Energy from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, August 27th. Bank of America reiterated a “buy” rating and issued a $34.00 price target on shares of Coterra Energy in a research note on Friday, June 14th. JPMorgan Chase & Co. cut their price objective on Coterra Energy from $31.00 to $26.00 and set an “overweight” rating on the stock in a research note on Thursday, September 12th. Susquehanna cut their target price on shares of Coterra Energy from $33.00 to $30.00 and set a “positive” rating on the stock in a report on Wednesday, September 4th. Finally, Morgan Stanley lowered their price target on shares of Coterra Energy from $29.00 to $27.00 and set an “equal weight” rating for the company in a research report on Monday, September 16th. Two research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $32.59.

Coterra Energy Trading Down 2.1 %

Shares of Coterra Energy stock opened at $23.27 on Thursday. The business has a fifty day simple moving average of $24.21 and a 200-day simple moving average of $26.34. Coterra Energy Inc. has a fifty-two week low of $22.30 and a fifty-two week high of $29.89. The firm has a market cap of $17.20 billion, a price-to-earnings ratio of 13.45, a price-to-earnings-growth ratio of 1.37 and a beta of 0.22. The company has a quick ratio of 1.38, a current ratio of 1.40 and a debt-to-equity ratio of 0.16.

Coterra Energy (NYSE:CTRA) last issued its quarterly earnings results on Thursday, August 1st. The company reported $0.37 earnings per share for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.02). The business had revenue of $1.27 billion during the quarter, compared to analyst estimates of $1.32 billion. Coterra Energy had a net margin of 23.18% and a return on equity of 10.48%. Coterra Energy’s revenue was up 7.3% compared to the same quarter last year. During the same period in the previous year, the company posted $0.38 earnings per share. On average, equities analysts forecast that Coterra Energy Inc. will post 1.74 EPS for the current fiscal year.

Coterra Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 29th. Shareholders of record on Thursday, August 15th were given a $0.21 dividend. The ex-dividend date of this dividend was Thursday, August 15th. This represents a $0.84 annualized dividend and a yield of 3.61%. Coterra Energy’s dividend payout ratio (DPR) is 48.55%.

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'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.