Wealth Enhancement Advisory Services LLC Sells 2,566 Shares of Coterra Energy Inc. $CTRA

Wealth Enhancement Advisory Services LLC cut its holdings in Coterra Energy Inc. (NYSE:CTRA) by 5.0% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 48,859 shares of the company’s stock after selling 2,566 shares during the period. Wealth Enhancement Advisory Services LLC’s holdings in Coterra Energy were worth $1,232,000 as of its most recent filing with the SEC.

A number of other institutional investors have also made changes to their positions in the business. Wedmont Private Capital increased its stake in shares of Coterra Energy by 13.2% in the second quarter. Wedmont Private Capital now owns 13,664 shares of the company’s stock worth $344,000 after purchasing an additional 1,592 shares during the period. Chesley Taft & Associates LLC bought a new position in Coterra Energy during the second quarter valued at about $220,000. Czech National Bank increased its stake in Coterra Energy by 10.3% during the second quarter. Czech National Bank now owns 186,568 shares of the company’s stock valued at $4,735,000 after acquiring an additional 17,418 shares during the period. MassMutual Private Wealth & Trust FSB increased its stake in Coterra Energy by 26.1% during the second quarter. MassMutual Private Wealth & Trust FSB now owns 2,685 shares of the company’s stock valued at $68,000 after acquiring an additional 555 shares during the period. Finally, Range Financial Group LLC increased its stake in Coterra Energy by 3.1% during the second quarter. Range Financial Group LLC now owns 63,432 shares of the company’s stock valued at $1,610,000 after acquiring an additional 1,887 shares during the period. 87.92% of the stock is currently owned by institutional investors.

Coterra Energy Stock Up 0.0%

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

Coterra Energy (NYSE:CTRA) last posted 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). Coterra Energy had a return on equity of 10.99% and a net margin of 23.80%.The firm had revenue of $1.97 billion for the quarter, compared to analyst estimates of $1.78 billion. During the same period in the prior year, the company posted $0.37 EPS. The firm’s quarterly revenue was up 54.6% compared to the same quarter last year. On average, analysts anticipate that Coterra Energy Inc. will post 1.54 EPS for the current year.

Coterra Energy Announces Dividend

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

Analyst Upgrades and Downgrades

CTRA has been the topic of several research reports. Scotiabank restated an “outperform” rating on shares of Coterra Energy in a research note on Friday, July 11th. Mizuho lowered their price target on Coterra Energy from $36.00 to $33.00 and set an “outperform” rating on the stock in a research note on Monday, September 15th. Barclays boosted their price target on Coterra Energy from $35.00 to $37.00 and gave the company an “overweight” rating in a research note on Monday, July 7th. Raymond James Financial restated an “outperform” rating and set a $34.00 price target (down from $38.00) on shares of Coterra Energy in a research note on Thursday, September 11th. Finally, Piper Sandler boosted their price target on Coterra Energy from $37.00 to $39.00 and gave the company an “overweight” rating in a research note on Thursday, August 14th. Fourteen investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $33.22.

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.