Easterly Investment Partners LLC Cuts Position in Coterra Energy Inc. (NYSE:CTRA)

Easterly Investment Partners LLC lessened its position in shares of Coterra Energy Inc. (NYSE:CTRA) by 15.2% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 505,273 shares of the company’s stock after selling 90,573 shares during the quarter. Easterly Investment Partners LLC’s holdings in Coterra Energy were worth $12,101,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the company. Fortitude Family Office LLC lifted its stake in shares of Coterra Energy by 154.9% during the 2nd quarter. Fortitude Family Office LLC now owns 933 shares of the company’s stock worth $25,000 after acquiring an additional 567 shares during the last quarter. Larson Financial Group LLC lifted its stake in shares of Coterra Energy by 98.0% during the 2nd quarter. Larson Financial Group LLC now owns 1,081 shares of the company’s stock worth $29,000 after acquiring an additional 535 shares during the last quarter. Central Pacific Bank Trust Division bought a new stake in shares of Coterra Energy during the 1st quarter worth approximately $44,000. Values First Advisors Inc. bought a new stake in shares of Coterra Energy during the 3rd quarter worth approximately $57,000. Finally, Tobam bought a new stake in shares of Coterra Energy during the 3rd quarter worth approximately $63,000. Hedge funds and other institutional investors own 87.92% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have weighed in on CTRA. JPMorgan Chase & Co. decreased their target price on Coterra Energy from $31.00 to $26.00 and set an “overweight” rating for the company in a research report on Thursday, September 12th. Mizuho lifted their target price on Coterra Energy from $36.00 to $37.00 and gave the company an “outperform” rating in a research report on Friday, November 1st. Susquehanna decreased their target price on Coterra Energy from $33.00 to $30.00 and set a “positive” rating for the company in a research report on Wednesday, September 4th. Wells Fargo & Company decreased their target price on Coterra Energy from $34.00 to $32.00 and set an “overweight” rating for the company in a research report on Tuesday, October 1st. Finally, Morgan Stanley decreased their target price on Coterra Energy from $29.00 to $27.00 and set an “equal weight” rating for the company in a research report on Monday, September 16th. Two research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $31.29.

Coterra Energy Trading Up 0.4 %

NYSE:CTRA traded up $0.10 during trading hours on Friday, reaching $24.51. 815,950 shares of the stock were exchanged, compared to its average volume of 6,220,943. The company has a market capitalization of $18.05 billion, a price-to-earnings ratio of 14.70, a PEG ratio of 1.42 and a beta of 0.22. The business has a 50-day moving average of $23.76 and a two-hundred day moving average of $25.60. Coterra Energy Inc. has a twelve month low of $22.30 and a twelve month high of $28.90. The company has a quick ratio of 1.38, a current ratio of 1.61 and a debt-to-equity ratio of 0.16.

Coterra Energy (NYSE:CTRA) last posted its 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 analyst estimates of $1.28 billion. Coterra Energy had a return on equity of 9.38% and a net margin of 21.91%. The firm’s revenue for the quarter was up .2% on a year-over-year basis. During the same quarter last year, the firm posted $0.47 EPS. On average, equities analysts predict that Coterra Energy Inc. will post 1.62 EPS for the current year.

Coterra Energy Announces Dividend

The company also recently declared 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. This represents a $0.84 annualized dividend and a dividend yield of 3.43%. The ex-dividend date of this dividend is Thursday, November 14th. Coterra Energy’s dividend payout ratio (DPR) is 50.60%.

Coterra Energy 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.