Adams Natural Resources Fund Inc. Sells 113,100 Shares of Coterra Energy Inc. $CTRA

Adams Natural Resources Fund Inc. lowered its position in Coterra Energy Inc. (NYSE:CTRA) by 48.4% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 120,800 shares of the company’s stock after selling 113,100 shares during the period. Adams Natural Resources Fund Inc.’s holdings in Coterra Energy were worth $2,857,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in CTRA. State of Michigan Retirement System lifted its stake in Coterra Energy by 5.8% in the second quarter. State of Michigan Retirement System now owns 244,459 shares of the company’s stock worth $6,204,000 after purchasing an additional 13,500 shares during the last quarter. Truist Financial Corp increased its stake in Coterra Energy by 165.3% in the 2nd quarter. Truist Financial Corp now owns 4,213,315 shares of the company’s stock worth $106,934,000 after buying an additional 2,625,126 shares during the period. Resona Asset Management Co. Ltd. lifted its holdings in Coterra Energy by 30.1% during the 2nd quarter. Resona Asset Management Co. Ltd. now owns 294,598 shares of the company’s stock valued at $7,486,000 after buying an additional 68,100 shares in the last quarter. Strs Ohio boosted its holdings in shares of Coterra Energy by 58.5% in the second quarter. Strs Ohio now owns 87,745 shares of the company’s stock valued at $2,227,000 after purchasing an additional 32,376 shares during the period. Finally, Nordea Investment Management AB increased its stake in shares of Coterra Energy by 43.2% during the second quarter. Nordea Investment Management AB now owns 57,542 shares of the company’s stock valued at $1,468,000 after buying an additional 17,373 shares during the period. 87.92% of the stock is owned by hedge funds and other institutional investors.

Coterra Energy Trading Down 3.0%

Shares of Coterra Energy stock opened at $25.05 on Wednesday. The stock has a 50 day moving average of $26.00 and a 200 day moving average of $24.78. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.98 and a current ratio of 1.02. The firm has a market capitalization of $19.07 billion, a price-to-earnings ratio of 11.54, a PEG ratio of 0.39 and a beta of 0.36. Coterra Energy Inc. has a fifty-two week low of $22.33 and a fifty-two week high of $29.95.

Coterra Energy (NYSE:CTRA) last posted its earnings results on Monday, November 3rd. The company reported $0.41 EPS for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.02). The business had revenue of $1.82 billion during the quarter, compared to analysts’ expectations of $1.83 billion. Coterra Energy had a net margin of 23.25% and a return on equity of 11.23%. Coterra Energy’s revenue for the quarter was up 33.7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.32 EPS. As a group, research analysts predict that Coterra Energy Inc. will post 1.54 earnings per share for the current year.

Coterra Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, November 26th. Investors of record on Thursday, November 13th were issued a $0.22 dividend. This represents a $0.88 annualized dividend and a dividend yield of 3.5%. The ex-dividend date was Thursday, November 13th. Coterra Energy’s payout ratio is currently 40.55%.

Analyst Ratings Changes

CTRA has been the topic of several research reports. Mizuho cut their price objective on shares of Coterra Energy from $36.00 to $33.00 and set an “outperform” rating on the stock in a report on Monday, September 15th. Roth Capital reiterated a “buy” rating and issued a $27.00 price target on shares of Coterra Energy in a research note on Tuesday, November 4th. Scotiabank dropped their price target on Coterra Energy from $35.00 to $32.00 and set a “sector outperform” rating on the stock in a research note on Thursday, October 9th. Wolfe Research decreased their price objective on shares of Coterra Energy from $36.00 to $35.00 and set an “outperform” rating for the company in a research report on Tuesday, November 4th. Finally, The Goldman Sachs Group reduced their target price on Coterra Energy from $30.00 to $29.00 and set a “neutral” rating for the company in a research note on Wednesday, October 15th. Seventeen analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $32.86.

About Coterra Energy

Coterra Energy (NYSE: CTRA) is an independent oil and natural gas exploration and production company focused on the development, production and optimization of onshore hydrocarbon resources in the United States. The company’s operations center on the exploration, drilling, completion and production of crude oil, natural gas and natural gas liquids (NGLs), with an emphasis on maximizing operational efficiency and capital discipline across its asset base.

Its business activities include identifying and developing resource-rich acreage, operating producing wells, managing reservoir performance and marketing produced hydrocarbons to a range of midstream and energy customers.