Coterra Energy Inc. $CTRA Shares Sold by Vest Financial LLC

Vest Financial LLC decreased its holdings in shares of Coterra Energy Inc. (NYSE:CTRA) by 79.2% during the 2nd quarter, HoldingsChannel.com reports. The fund owned 83,632 shares of the company’s stock after selling 317,899 shares during the period. Vest Financial LLC’s holdings in Coterra Energy were worth $2,123,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in CTRA. Vanguard Group Inc. increased its stake in Coterra Energy by 4.3% during the 1st quarter. Vanguard Group Inc. now owns 92,337,673 shares of the company’s stock worth $2,668,559,000 after buying an additional 3,818,700 shares during the period. Wellington Management Group LLP increased its stake in Coterra Energy by 15.3% during the 1st quarter. Wellington Management Group LLP now owns 83,631,117 shares of the company’s stock worth $2,416,939,000 after buying an additional 11,102,350 shares during the period. Charles Schwab Investment Management Inc. increased its stake in Coterra Energy by 7.8% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 25,304,940 shares of the company’s stock worth $731,313,000 after buying an additional 1,837,614 shares during the period. Victory Capital Management Inc. increased its stake in Coterra Energy by 5.7% during the 1st quarter. Victory Capital Management Inc. now owns 18,828,688 shares of the company’s stock worth $544,149,000 after buying an additional 1,019,995 shares during the period. Finally, Invesco Ltd. increased its stake in Coterra Energy by 1.2% during the 1st quarter. Invesco Ltd. now owns 12,384,728 shares of the company’s stock worth $357,919,000 after buying an additional 152,244 shares during the period. Institutional investors and hedge funds own 87.92% of the company’s stock.

Coterra Energy Price Performance

Shares of NYSE:CTRA opened at $23.23 on Wednesday. The company has a quick ratio of 1.08, a current ratio of 1.13 and a debt-to-equity ratio of 0.29. Coterra Energy Inc. has a fifty-two week low of $22.46 and a fifty-two week high of $29.95. The firm has a 50-day simple moving average of $23.87 and a 200 day simple moving average of $24.70. The company has a market cap of $17.72 billion, a PE ratio of 11.11, a P/E/G ratio of 0.33 and a beta of 0.29.

Coterra Energy (NYSE:CTRA) last posted its earnings results on Monday, August 4th. The company reported $0.48 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.50 by ($0.02). The firm had revenue of $1.97 billion for the quarter, compared to analyst estimates of $1.78 billion. Coterra Energy had a net margin of 23.80% and a return on equity of 10.99%. The company’s revenue for the quarter was up 54.6% on a year-over-year basis. During the same period in the previous year, the firm earned $0.37 earnings per share. On average, sell-side analysts anticipate that Coterra Energy Inc. will post 1.54 EPS for the current year.

Coterra Energy Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, August 28th. Shareholders of record on Thursday, August 14th were paid a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a yield of 3.8%. The ex-dividend date of this dividend was Thursday, August 14th. Coterra Energy’s payout ratio is presently 42.11%.

Wall Street Analysts Forecast Growth

CTRA has been the topic of several analyst reports. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Coterra Energy in a research note on Wednesday, October 8th. Piper Sandler boosted their target price on shares of Coterra Energy from $37.00 to $39.00 and gave the stock an “overweight” rating in a research report on Thursday, August 14th. Raymond James Financial reissued an “outperform” rating and issued a $34.00 target price (down previously from $38.00) on shares of Coterra Energy in a research report on Thursday, September 11th. Barclays dropped their target price on shares of Coterra Energy from $37.00 to $35.00 and set an “overweight” rating for the company in a research report on Tuesday, October 7th. Finally, Morgan Stanley dropped their target price on shares of Coterra Energy from $29.00 to $28.00 and set an “equal weight” rating for the company in a research report on Tuesday. Fifteen research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $32.95.

Coterra Energy Company Profile

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.