D.A. Davidson & CO. Lowers Position in Coterra Energy Inc. $CTRA

D.A. Davidson & CO. decreased its position in Coterra Energy Inc. (NYSE:CTRA) by 32.8% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 90,072 shares of the company’s stock after selling 43,996 shares during the quarter. D.A. Davidson & CO.’s holdings in Coterra Energy were worth $2,130,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Davis Selected Advisers purchased a new position in Coterra Energy during the second quarter worth about $237,002,000. Vanguard Group Inc. lifted its position in shares of Coterra Energy by 3.1% during the 2nd 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 in the last quarter. Truist Financial Corp boosted its stake in shares of 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 last quarter. Charles Schwab Investment Management Inc. grew its holdings 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 valued at $680,197,000 after acquiring an additional 1,495,553 shares in the last quarter. Finally, Kingstone Capital Partners Texas LLC purchased a new stake in shares of Coterra Energy during the second quarter valued at approximately $30,325,000. Hedge funds and other institutional investors own 87.92% of the company’s stock.

Coterra Energy Price Performance

NYSE CTRA opened at $24.83 on Friday. The company has a quick ratio of 0.98, a current ratio of 1.02 and a debt-to-equity ratio of 0.25. The company has a market cap of $18.90 billion, a PE ratio of 11.44, a price-to-earnings-growth ratio of 0.39 and a beta of 0.36. Coterra Energy Inc. has a 52 week low of $22.33 and a 52 week high of $29.95. The firm’s 50-day simple moving average is $26.10 and its two-hundred day simple moving average is $24.77.

Coterra Energy (NYSE:CTRA) last posted its quarterly 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 business had revenue of $1.82 billion during the quarter, compared to the consensus estimate of $1.83 billion. Coterra Energy had a net margin of 23.25% and a return on equity of 11.23%. The business’s revenue for the quarter was up 33.7% on a year-over-year basis. During the same period last year, the firm earned $0.32 EPS. Research analysts predict that Coterra Energy Inc. will post 1.54 earnings per share for the current year.

Coterra Energy Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, November 26th. Stockholders of record on Thursday, November 13th were issued a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a dividend yield of 3.5%. The ex-dividend date of this dividend was Thursday, November 13th. Coterra Energy’s dividend payout ratio (DPR) is presently 40.55%.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the company. Stephens cut their price objective on Coterra Energy from $34.00 to $33.00 and set an “overweight” rating on the stock in a research report on Tuesday, October 21st. Susquehanna cut their price target on shares of Coterra Energy from $32.00 to $31.00 and set a “positive” rating on the stock in a report on Monday, October 20th. Mizuho reduced their price target on shares of Coterra Energy from $36.00 to $33.00 and set an “outperform” rating for the company in a research report on Monday, September 15th. 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 report on Tuesday, November 4th. Finally, Roth Capital reiterated a “buy” rating and issued a $27.00 target price on shares of Coterra Energy in a research note on Tuesday, November 4th. Seventeen equities research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently 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.