Coterra Energy Inc. $CTRA Shares Sold by Earnest Partners LLC

Earnest Partners LLC cut its holdings in Coterra Energy Inc. (NYSE:CTRA) by 2.4% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,824,830 shares of the company’s stock after selling 44,615 shares during the quarter. Earnest Partners LLC’s holdings in Coterra Energy were worth $43,157,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in CTRA. Advisors Asset Management Inc. lifted its position in shares of Coterra Energy by 0.7% during the 3rd quarter. Advisors Asset Management Inc. now owns 60,796 shares of the company’s stock valued at $1,438,000 after buying an additional 398 shares in the last quarter. KLCM Advisors Inc. raised its position in Coterra Energy by 4.2% during the third quarter. KLCM Advisors Inc. now owns 9,855 shares of the company’s stock worth $233,000 after acquiring an additional 400 shares during the period. Pinnacle Associates Ltd. raised its position in Coterra Energy by 2.8% during the third quarter. Pinnacle Associates Ltd. now owns 15,336 shares of the company’s stock worth $363,000 after acquiring an additional 415 shares during the period. Profund Advisors LLC lifted its holdings in Coterra Energy by 1.4% during the third quarter. Profund Advisors LLC now owns 30,969 shares of the company’s stock valued at $732,000 after purchasing an additional 418 shares in the last quarter. Finally, AAFMAA Wealth Management & Trust LLC lifted its holdings in Coterra Energy by 1.0% during the third quarter. AAFMAA Wealth Management & Trust LLC now owns 43,009 shares of the company’s stock valued at $1,017,000 after purchasing an additional 429 shares in the last quarter. 87.92% of the stock is owned by institutional investors and hedge funds.

Coterra Energy Stock Performance

CTRA opened at $32.18 on Monday. Coterra Energy Inc. has a twelve month low of $22.33 and a twelve month high of $32.67. The firm has a market capitalization of $24.43 billion, a PE ratio of 14.11, a PEG ratio of 0.80 and a beta of 0.37. The company has a current ratio of 1.19, a quick ratio of 1.16 and a debt-to-equity ratio of 0.24. The firm’s 50-day moving average price is $29.01 and its 200 day moving average price is $26.37.

Coterra Energy Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, March 25th. Stockholders of record on Wednesday, March 11th will be issued a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a dividend yield of 2.7%. The ex-dividend date is Wednesday, March 11th. Coterra Energy’s payout ratio is currently 38.60%.

Analyst Ratings Changes

A number of analysts have recently commented on CTRA shares. BMO Capital Markets boosted their target price on shares of Coterra Energy from $32.00 to $35.00 and gave the stock a “market perform” rating in a research note on Tuesday, March 3rd. Zacks Research lowered shares of Coterra Energy from a “hold” rating to a “strong sell” rating in a research note on Monday, January 19th. Mizuho boosted their price objective on Coterra Energy from $33.00 to $36.00 and gave the stock an “outperform” rating in a research note on Thursday, January 15th. Barclays reduced their target price on Coterra Energy from $35.00 to $34.00 and set an “overweight” rating for the company in a report on Wednesday, January 21st. Finally, JPMorgan Chase & Co. decreased their target price on Coterra Energy from $34.00 to $31.00 and set an “overweight” rating on the stock in a research report on Monday, January 12th. Fourteen equities research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $34.29.

Coterra Energy Company Profile

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.