Ferguson Wellman Capital Management Inc. Reduces Stock Holdings in Coterra Energy Inc. (NYSE:CTRA)

Ferguson Wellman Capital Management Inc. cut its holdings in Coterra Energy Inc. (NYSE:CTRA) by 9.2% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 14,453 shares of the company’s stock after selling 1,460 shares during the period. Ferguson Wellman Capital Management Inc.’s holdings in Coterra Energy were worth $346,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in the business. King Luther Capital Management Corp raised its holdings in shares of Coterra Energy by 4.4% in the second quarter. King Luther Capital Management Corp now owns 6,783,690 shares of the company’s stock worth $180,921,000 after acquiring an additional 285,774 shares during the last quarter. Disciplined Growth Investors Inc. MN boosted its position in Coterra Energy by 1.0% during the second 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. American Century Companies Inc. lifted its stake in shares of Coterra Energy by 29.1% during the 2nd quarter. American Century Companies Inc. now owns 4,498,227 shares of the company’s stock worth $119,968,000 after purchasing an additional 1,013,107 shares during the period. Equity Investment Corp boosted its holdings in shares of Coterra Energy by 0.7% during the second quarter. Equity Investment Corp now owns 3,227,678 shares of the company’s stock worth $86,082,000 after purchasing an additional 22,017 shares during the last quarter. Finally, Captrust Financial Advisors grew its position in shares of Coterra Energy by 4.6% in the first quarter. Captrust Financial Advisors now owns 2,952,024 shares of the company’s stock valued at $78,422,000 after purchasing an additional 128,720 shares during the period. 87.92% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms have recently commented on CTRA. Scotiabank dropped their price objective on shares of Coterra Energy from $35.00 to $32.00 and set a “sector outperform” rating for the company in a research note on Thursday, October 10th. JPMorgan Chase & Co. dropped their target price on Coterra Energy from $31.00 to $26.00 and set an “overweight” rating on the stock in a report on Thursday, September 12th. Susquehanna reduced their target price on shares of Coterra Energy from $33.00 to $30.00 and set a “positive” rating on the stock in a research report on Wednesday, September 4th. Piper Sandler lowered their price target on shares of Coterra Energy from $39.00 to $31.00 and set an “overweight” rating for the company in a report on Thursday, August 15th. Finally, Wolfe Research initiated coverage on shares of Coterra Energy in a report on Thursday, July 18th. They issued an “outperform” rating and a $35.00 price objective on the stock. Two research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $32.06.

Coterra Energy Price Performance

CTRA stock opened at $23.78 on Friday. The firm has a 50-day moving average of $23.87 and a two-hundred day moving average of $25.98. The firm has a market capitalization of $17.70 billion, a PE ratio of 13.75, a P/E/G ratio of 1.41 and a beta of 0.22. The company has a current ratio of 1.40, a quick ratio of 1.38 and a debt-to-equity ratio of 0.16. Coterra Energy Inc. has a one year low of $22.30 and a one year high of $29.79.

Coterra Energy (NYSE:CTRA) last released its quarterly earnings data on Thursday, August 1st. The company reported $0.37 earnings per share 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 company had revenue of $1.27 billion during the quarter, compared to analyst estimates of $1.32 billion. During the same quarter in the prior year, the company posted $0.38 EPS. The firm’s quarterly revenue was up 7.3% compared to the same quarter last year. On average, analysts forecast that Coterra Energy Inc. will post 1.72 earnings per share for the current year.

Coterra Energy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 29th. Investors of record on Thursday, August 15th were paid a $0.21 dividend. This represents a $0.84 annualized dividend and a dividend yield of 3.53%. The ex-dividend date was Thursday, August 15th. Coterra Energy’s payout ratio is presently 48.55%.

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.