Coterra Energy Inc. $CTRA Stock Position Decreased by Farther Finance Advisors LLC

Farther Finance Advisors LLC decreased its stake in shares of Coterra Energy Inc. (NYSE:CTRA) by 18.8% during the second quarter, according to the company in its most recent filing with the SEC. The fund owned 9,724 shares of the company’s stock after selling 2,254 shares during the period. Farther Finance Advisors LLC’s holdings in Coterra Energy were worth $247,000 as of its most recent filing with the SEC.

A number of other hedge funds have also made changes to their positions in the stock. Donald L. Hagan LLC increased its holdings in shares of Coterra Energy by 1.1% during the 1st quarter. Donald L. Hagan LLC now owns 35,754 shares of the company’s stock valued at $1,033,000 after acquiring an additional 401 shares during the last quarter. Saxon Interests Inc. increased its holdings in shares of Coterra Energy by 5.1% during the 1st quarter. Saxon Interests Inc. now owns 9,319 shares of the company’s stock valued at $269,000 after acquiring an additional 451 shares during the last quarter. Tectonic Advisors LLC increased its holdings in shares of Coterra Energy by 3.2% during the 1st quarter. Tectonic Advisors LLC now owns 14,834 shares of the company’s stock valued at $429,000 after acquiring an additional 459 shares during the last quarter. Procyon Advisors LLC increased its holdings in shares of Coterra Energy by 3.6% during the 1st quarter. Procyon Advisors LLC now owns 13,460 shares of the company’s stock valued at $389,000 after acquiring an additional 469 shares during the last quarter. Finally, Hartford Funds Management Co LLC grew its holdings in Coterra Energy by 1.4% in the 1st quarter. Hartford Funds Management Co LLC now owns 35,301 shares of the company’s stock valued at $1,020,000 after buying an additional 472 shares during the last quarter. Institutional investors and hedge funds own 87.92% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have issued reports on CTRA shares. Wells Fargo & Company raised their target price on Coterra Energy from $32.00 to $33.00 and gave the company an “overweight” rating in a report on Thursday, August 14th. Mizuho lowered their target price on Coterra Energy from $36.00 to $33.00 and set an “outperform” rating on the stock in a report on Monday, September 15th. Raymond James Financial reaffirmed an “outperform” rating and issued a $34.00 target price (down previously from $38.00) on shares of Coterra Energy in a report on Thursday, September 11th. Piper Sandler raised their target price on Coterra Energy from $37.00 to $39.00 and gave the company an “overweight” rating in a report on Thursday, August 14th. Finally, The Goldman Sachs Group reaffirmed a “neutral” rating and issued a $31.00 target price on shares of Coterra Energy in a report on Tuesday, July 1st. Fourteen equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to MarketBeat, Coterra Energy has a consensus rating of “Moderate Buy” and an average price target of $33.22.

Coterra Energy Trading Up 0.0%

Shares of CTRA opened at $23.65 on Wednesday. The stock has a fifty day moving average price of $23.94 and a two-hundred day moving average price of $25.07. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.08 and a current ratio of 1.13. Coterra Energy Inc. has a 52-week low of $22.46 and a 52-week high of $29.95. The company has a market cap of $18.05 billion, a price-to-earnings ratio of 11.32, a PEG ratio of 0.33 and a beta of 0.34.

Coterra Energy (NYSE:CTRA) last issued its quarterly earnings data on Monday, August 4th. The company reported $0.48 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.50 by ($0.02). The business had revenue of $1.97 billion during the quarter, compared to the consensus estimate of $1.78 billion. Coterra Energy had a net margin of 23.80% and a return on equity of 10.99%. The company’s revenue for the quarter was up 54.6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.37 EPS. Analysts predict that Coterra Energy Inc. will post 1.54 EPS for the current fiscal year.

Coterra Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 28th. Stockholders of record on Thursday, August 14th were given a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a dividend yield of 3.7%. The ex-dividend date of this dividend was Thursday, August 14th. Coterra Energy’s dividend payout ratio is currently 42.11%.

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.