Coterra Energy Inc. (NYSE:CTRA) Shares Sold by Moran Wealth Management LLC

Moran Wealth Management LLC cut its holdings in shares of Coterra Energy Inc. (NYSE:CTRA) by 0.7% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 383,221 shares of the company’s stock after selling 2,814 shares during the period. Moran Wealth Management LLC owned approximately 0.05% of Coterra Energy worth $9,178,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in CTRA. Quadrature Capital Ltd grew its holdings in Coterra Energy by 112.2% during the first quarter. Quadrature Capital Ltd now owns 72,395 shares of the company’s stock valued at $2,018,000 after purchasing an additional 38,278 shares during the last quarter. CreativeOne Wealth LLC raised its stake in shares of Coterra Energy by 130.3% in the first quarter. CreativeOne Wealth LLC now owns 56,860 shares of the company’s stock worth $1,586,000 after acquiring an additional 32,173 shares during the last quarter. Raymond James & Associates boosted its stake in shares of Coterra Energy by 5.0% in the 2nd quarter. Raymond James & Associates now owns 1,187,663 shares of the company’s stock valued at $31,675,000 after purchasing an additional 56,748 shares during the last quarter. MQS Management LLC acquired a new stake in shares of Coterra Energy during the third quarter worth $776,000. Finally, Disciplined Growth Investors Inc. MN boosted its stake in Coterra Energy by 1.0% during the 2nd quarter. Disciplined Growth Investors Inc. MN now owns 5,063,920 shares of the company’s stock worth $135,055,000 after acquiring an additional 51,249 shares during the last quarter. 87.92% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts have recently commented on the stock. Barclays increased their price objective on shares of Coterra Energy from $31.00 to $33.00 and gave the stock an “overweight” rating in a research note on Thursday, November 14th. Susquehanna upped their target price on Coterra Energy from $30.00 to $33.00 and gave the stock a “positive” rating in a report on Thursday, November 14th. Scotiabank lowered their price objective on Coterra Energy from $35.00 to $32.00 and set a “sector outperform” rating for the company in a research report on Thursday, October 10th. UBS Group increased their price target on Coterra Energy from $31.00 to $35.00 and gave the stock a “buy” rating in a report on Friday, November 15th. Finally, Stephens lifted their price target on Coterra Energy from $28.00 to $29.00 and gave the company an “overweight” rating in a research note on Friday, November 1st. Two equities research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Coterra Energy currently has an average rating of “Moderate Buy” and an average price target of $32.41.

Coterra Energy Stock Performance

Coterra Energy stock traded up $0.09 during midday trading on Wednesday, reaching $26.38. 943,435 shares of the company traded hands, compared to its average volume of 6,224,301. Coterra Energy Inc. has a 12 month low of $22.30 and a 12 month high of $28.90. The firm has a market capitalization of $19.43 billion, a price-to-earnings ratio of 15.84, a price-to-earnings-growth ratio of 1.67 and a beta of 0.22. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.61 and a quick ratio of 1.56. The business has a 50 day moving average of $24.02 and a two-hundred day moving average of $25.44.

Coterra Energy (NYSE:CTRA) last announced its quarterly earnings results on Thursday, October 31st. The company reported $0.32 EPS for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.03). The firm had revenue of $1.36 billion for the quarter, compared to the consensus estimate of $1.28 billion. Coterra Energy had a net margin of 21.91% and a return on equity of 9.38%. Coterra Energy’s quarterly revenue was up .2% on a year-over-year basis. During the same period in the previous year, the company posted $0.47 earnings per share. As a group, research analysts predict that Coterra Energy Inc. will post 1.53 earnings per share for the current year.

Coterra Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 27th. Stockholders of record on Thursday, November 14th will be paid a dividend of $0.21 per share. The ex-dividend date of this dividend is Thursday, November 14th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 3.18%. Coterra Energy’s dividend payout ratio is presently 50.60%.

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.