Allspring Global Investments Holdings LLC Lowers Holdings in Coterra Energy Inc. $CTRA

Allspring Global Investments Holdings LLC trimmed its stake in Coterra Energy Inc. (NYSE:CTRA) by 21.3% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 325,332 shares of the company’s stock after selling 88,071 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Coterra Energy were worth $7,795,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Davis Selected Advisers bought a new position in Coterra Energy in the 2nd quarter worth about $237,002,000. Vanguard Group Inc. raised its holdings in Coterra Energy by 3.1% in the second quarter. Vanguard Group Inc. now owns 95,209,961 shares of the company’s stock worth $2,416,429,000 after buying an additional 2,872,288 shares during the last quarter. Truist Financial Corp raised its holdings in Coterra Energy by 165.3% in the second 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 last quarter. Charles Schwab Investment Management Inc. lifted its stake in shares of Coterra Energy by 5.9% in the second quarter. Charles Schwab Investment Management Inc. now owns 26,800,493 shares of the company’s stock worth $680,197,000 after buying an additional 1,495,553 shares in the last quarter. Finally, Kingstone Capital Partners Texas LLC bought a new position in shares of Coterra Energy in the second quarter worth approximately $30,325,000. 87.92% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on CTRA shares. Stephens reduced their price target on shares of Coterra Energy from $34.00 to $33.00 and set an “overweight” rating for the company in a research report on Tuesday, October 21st. Raymond James Financial increased their target price on Coterra Energy from $28.00 to $31.00 and gave the company an “outperform” rating in a research note on Monday, November 24th. Morgan Stanley reduced their target price on Coterra Energy from $29.00 to $28.00 and set an “equal weight” rating for the company in a report on Tuesday, October 14th. Barclays lowered their price target on Coterra Energy from $37.00 to $35.00 and set an “overweight” rating on the stock in a report on Tuesday, October 7th. Finally, Scotiabank reduced their price objective on Coterra Energy from $35.00 to $32.00 and set a “sector outperform” rating for the company in a report on Thursday, October 9th. Seventeen research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $32.86.

Coterra Energy Stock Performance

Shares of CTRA opened at $25.05 on Wednesday. Coterra Energy Inc. has a one year low of $22.33 and a one year high of $29.95. The business has a fifty 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 current ratio of 1.02 and a quick ratio of 0.98. The firm has a market capitalization of $19.07 billion, a P/E ratio of 11.54, a PEG ratio of 0.39 and a beta of 0.36.

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

Coterra Energy Announces Dividend

The firm 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. The ex-dividend date of this dividend was Thursday, November 13th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 3.5%. Coterra Energy’s dividend payout ratio (DPR) is presently 40.55%.

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.