Ferguson Wellman Capital Management Inc. Sells 1,460 Shares of Coterra Energy Inc. (NYSE:CTRA)

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

Several other institutional investors and hedge funds have also bought and sold shares of CTRA. Bank of Montreal Can boosted its stake in Coterra Energy by 160.1% during the second quarter. Bank of Montreal Can now owns 2,898,876 shares of the company’s stock worth $80,154,000 after acquiring an additional 1,784,192 shares in the last quarter. Marshall Wace LLP boosted its stake in Coterra Energy by 5,325.5% during the second quarter. Marshall Wace LLP now owns 1,148,569 shares of the company’s stock worth $30,632,000 after acquiring an additional 1,127,399 shares in the last quarter. Clearbridge Investments LLC bought a new position in shares of Coterra Energy in the first quarter valued at $28,967,000. American Century Companies Inc. lifted its stake in shares of Coterra Energy by 29.1% in the second quarter. American Century Companies Inc. now owns 4,498,227 shares of the company’s stock valued at $119,968,000 after buying an additional 1,013,107 shares in the last quarter. Finally, Earnest Partners LLC lifted its stake in shares of Coterra Energy by 37.5% in the first quarter. Earnest Partners LLC now owns 1,918,569 shares of the company’s stock valued at $53,490,000 after buying an additional 523,480 shares in the last quarter. 87.92% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on CTRA. Truist Financial raised their price objective on shares of Coterra Energy from $31.00 to $33.00 and gave the company a “buy” rating in a research note on Thursday. Stephens raised their price objective on shares of Coterra Energy from $28.00 to $29.00 and gave the company an “overweight” rating in a research note on Friday, November 1st. Wolfe Research began coverage on shares of Coterra Energy in a research note on Thursday, July 18th. They issued an “outperform” rating and a $35.00 price objective on the stock. Piper Sandler raised their price objective on shares of Coterra Energy from $32.00 to $35.00 and gave the company an “overweight” rating in a research note on Thursday. Finally, Roth Mkm raised shares of Coterra Energy from a “neutral” rating to a “buy” rating and raised their price objective for the company from $25.00 to $29.00 in a research note on Tuesday, August 27th. Two equities research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $32.00.

Coterra Energy Stock Performance

NYSE CTRA opened at $25.44 on Friday. Coterra Energy Inc. has a 52-week low of $22.30 and a 52-week high of $28.90. The company has a 50-day simple moving average of $23.86 and a 200 day simple moving average of $25.50. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.56 and a current ratio of 1.61. The company has a market capitalization of $18.74 billion, a PE ratio of 15.32, a price-to-earnings-growth ratio of 1.67 and a beta of 0.22.

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

Coterra Energy Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 27th. Stockholders of record on Thursday, November 14th will be paid a $0.21 dividend. The ex-dividend date of this dividend is Thursday, November 14th. This represents a $0.84 annualized dividend and a dividend yield of 3.30%. Coterra Energy’s payout ratio is 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.