Cambridge Investment Research Advisors Inc. Has $2.81 Million Position in Coterra Energy Inc. (NYSE:CTRA)

Cambridge Investment Research Advisors Inc. lessened its holdings in shares of Coterra Energy Inc. (NYSE:CTRA) by 9.9% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 97,299 shares of the company’s stock after selling 10,747 shares during the quarter. Cambridge Investment Research Advisors Inc.’s holdings in Coterra Energy were worth $2,812,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Kentucky Retirement Systems Insurance Trust Fund grew its position in Coterra Energy by 42.3% in the 1st quarter. Kentucky Retirement Systems Insurance Trust Fund now owns 21,226 shares of the company’s stock worth $613,000 after purchasing an additional 6,312 shares in the last quarter. First American Bank lifted its holdings in Coterra Energy by 3.7% during the first quarter. First American Bank now owns 67,830 shares of the company’s stock worth $1,960,000 after acquiring an additional 2,439 shares during the period. PFG Investments LLC bought a new stake in shares of Coterra Energy during the 1st quarter worth $236,000. Canoe Financial LP purchased a new position in shares of Coterra Energy in the 1st quarter worth about $24,195,000. Finally, Riverwater Partners LLC purchased a new position in shares of Coterra Energy in the 1st quarter worth about $208,000. Institutional investors and hedge funds own 87.92% of the company’s stock.

Coterra Energy Trading Down 0.8%

CTRA stock opened at $25.40 on Tuesday. The company has a market capitalization of $19.39 billion, a PE ratio of 14.77, a price-to-earnings-growth ratio of 0.35 and a beta of 0.34. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.86 and a current ratio of 0.90. Coterra Energy Inc. has a one year low of $22.30 and a one year high of $29.95. The company’s 50 day moving average price is $25.21 and its two-hundred day moving average price is $26.41.

Coterra Energy (NYSE:CTRA) last posted its quarterly earnings results on Monday, May 5th. The company reported $0.80 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.71 by $0.09. The business had revenue of $924.00 million during the quarter, compared to analyst estimates of $1.92 billion. Coterra Energy had a net margin of 21.67% and a return on equity of 10.61%. The company’s revenue was up 32.9% on a year-over-year basis. During the same period in the prior year, the business posted $0.51 earnings per share. As a group, analysts predict that Coterra Energy Inc. will post 1.54 earnings per share for the current fiscal year.

Coterra Energy Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, May 29th. Investors of record on Thursday, May 15th were given a dividend of $0.22 per share. The ex-dividend date of this dividend was Thursday, May 15th. This represents a $0.88 annualized dividend and a yield of 3.46%. Coterra Energy’s payout ratio is 51.16%.

Wall Street Analyst Weigh In

CTRA has been the topic of several research reports. Scotiabank lowered their target price on Coterra Energy from $38.00 to $33.00 and set a “sector outperform” rating on the stock in a research note on Friday, April 11th. JPMorgan Chase & Co. dropped their price target on shares of Coterra Energy from $36.00 to $33.00 and set an “overweight” rating on the stock in a research note on Thursday, March 13th. Mizuho reduced their price objective on shares of Coterra Energy from $38.00 to $36.00 and set an “outperform” rating for the company in a research note on Tuesday, May 13th. Susquehanna dropped their target price on Coterra Energy from $34.00 to $32.00 and set a “positive” rating on the stock in a research report on Tuesday, April 22nd. Finally, Piper Sandler cut their price target on Coterra Energy from $37.00 to $36.00 and set an “overweight” rating for the company in a report on Tuesday, May 13th. Four equities research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Coterra Energy currently has a consensus rating of “Moderate Buy” and an average target price of $33.30.

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.