Coterra Energy Inc. (NYSE:CTRA) Shares Sold by IFM Investors Pty Ltd

IFM Investors Pty Ltd lowered its holdings in Coterra Energy Inc. (NYSE:CTRA) by 28.3% in the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 104,810 shares of the company’s stock after selling 41,466 shares during the period. IFM Investors Pty Ltd’s holdings in Coterra Energy were worth $2,510,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the business. Fifth Third Bancorp grew its holdings in shares of Coterra Energy by 0.6% in the second quarter. Fifth Third Bancorp now owns 71,138 shares of the company’s stock valued at $1,897,000 after purchasing an additional 399 shares in the last quarter. TCW Group Inc. grew its holdings in shares of Coterra Energy by 4.0% in the second quarter. TCW Group Inc. now owns 10,447 shares of the company’s stock valued at $279,000 after purchasing an additional 404 shares in the last quarter. Redwood Wealth Management Group LLC grew its holdings in Coterra Energy by 2.3% during the 1st quarter. Redwood Wealth Management Group LLC now owns 18,974 shares of the company’s stock worth $529,000 after acquiring an additional 429 shares in the last quarter. Cornercap Investment Counsel Inc. grew its holdings in Coterra Energy by 0.7% during the 2nd quarter. Cornercap Investment Counsel Inc. now owns 66,280 shares of the company’s stock worth $1,768,000 after acquiring an additional 436 shares in the last quarter. Finally, Quent Capital LLC grew its holdings in Coterra Energy by 8.1% during the 1st quarter. Quent Capital LLC now owns 5,923 shares of the company’s stock worth $165,000 after acquiring an additional 445 shares in the last quarter. Institutional investors and hedge funds own 87.92% of the company’s stock.

Coterra Energy Stock Down 0.6 %

CTRA stock opened at $23.85 on Monday. The company has a fifty day moving average price of $23.84 and a 200 day moving average price of $25.81. Coterra Energy Inc. has a 12 month low of $22.30 and a 12 month high of $28.90. The company has a market cap of $17.75 billion, a price-to-earnings ratio of 13.79, a price-to-earnings-growth ratio of 1.41 and a beta of 0.22. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.40 and a quick ratio of 1.38.

Coterra Energy (NYSE:CTRA) last released its quarterly earnings results on Thursday, August 1st. The company reported $0.37 EPS for the quarter, missing the consensus estimate of $0.39 by ($0.02). Coterra Energy had a net margin of 23.18% and a return on equity of 10.48%. The business had revenue of $1.27 billion during the quarter, compared to analysts’ expectations of $1.32 billion. During the same quarter last year, the company earned $0.38 EPS. The firm’s revenue for the quarter was up 7.3% compared to the same quarter last year. Sell-side analysts expect that Coterra Energy Inc. will post 1.72 earnings per share for the current year.

Coterra Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 29th. Shareholders of record on Thursday, August 15th were paid a $0.21 dividend. The ex-dividend date of this dividend was Thursday, August 15th. This represents a $0.84 annualized dividend and a yield of 3.52%. Coterra Energy’s dividend payout ratio is currently 48.55%.

Analysts Set New Price Targets

Several research analysts have commented on CTRA shares. BMO Capital Markets upgraded shares of Coterra Energy to a “hold” rating in a report on Wednesday, July 3rd. Barclays lowered their price target on shares of Coterra Energy from $33.00 to $31.00 and set an “overweight” rating for the company in a report on Thursday, October 3rd. JPMorgan Chase & Co. lowered their price target on shares of Coterra Energy from $31.00 to $26.00 and set an “overweight” rating for the company in a report on Thursday, September 12th. UBS Group lowered their price target on shares of Coterra Energy from $34.00 to $31.00 and set a “buy” rating for the company in a report on Wednesday, September 18th. Finally, Scotiabank lowered their price target on shares of Coterra Energy from $35.00 to $32.00 and set a “sector outperform” rating for the company in a report on Thursday, October 10th. Two investment analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $32.06.

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.