Armstrong Advisory Group Inc. Trims Stock Position in Coterra Energy Inc. $CTRA

Armstrong Advisory Group Inc. decreased its holdings in Coterra Energy Inc. (NYSE:CTRA) by 57.8% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,135 shares of the company’s stock after selling 2,925 shares during the quarter. Armstrong Advisory Group Inc.’s holdings in Coterra Energy were worth $54,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of CTRA. Cornerstone Planning Group LLC raised its position in Coterra Energy by 175.6% in the 1st quarter. Cornerstone Planning Group LLC now owns 871 shares of the company’s stock valued at $25,000 after purchasing an additional 555 shares during the last quarter. Raleigh Capital Management Inc. raised its position in Coterra Energy by 463.5% in the 1st quarter. Raleigh Capital Management Inc. now owns 896 shares of the company’s stock valued at $26,000 after purchasing an additional 737 shares during the last quarter. Banque Cantonale Vaudoise purchased a new stake in Coterra Energy in the 1st quarter valued at $29,000. Wayfinding Financial LLC purchased a new stake in Coterra Energy in the 1st quarter valued at $34,000. Finally, Investors Research Corp raised its position in Coterra Energy by 45.2% in the 1st quarter. Investors Research Corp now owns 1,311 shares of the company’s stock valued at $38,000 after purchasing an additional 408 shares during the last quarter. Hedge funds and other institutional investors own 87.92% of the company’s stock.

Coterra Energy Stock Performance

NYSE:CTRA opened at $23.47 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 stock has a market cap of $17.91 billion, a PE ratio of 11.23, a price-to-earnings-growth ratio of 0.32 and a beta of 0.34. The firm’s fifty day simple moving average is $23.96 and its 200-day simple moving average is $25.19.

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

Coterra Energy Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, August 28th. Stockholders of record on Thursday, August 14th were paid a dividend of $0.22 per share. The ex-dividend date of this dividend was Thursday, August 14th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 3.7%. Coterra Energy’s dividend payout ratio is 42.11%.

Analyst Upgrades and Downgrades

Several research firms recently commented on CTRA. Scotiabank reiterated an “outperform” rating on shares of Coterra Energy in a research report on Friday, July 11th. Mizuho dropped their price objective on shares of Coterra Energy from $36.00 to $33.00 and set an “outperform” rating on the stock in a research note on Monday, September 15th. Wells Fargo & Company boosted their price objective on shares of Coterra Energy from $32.00 to $33.00 and gave the company an “overweight” rating in a research note on Thursday, August 14th. Barclays boosted their price objective on shares of Coterra Energy from $35.00 to $37.00 and gave the company an “overweight” rating in a research note on Monday, July 7th. Finally, Piper Sandler boosted their price objective on shares of Coterra Energy from $37.00 to $39.00 and gave the company an “overweight” rating in a research note on Thursday, August 14th. Fourteen equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $33.22.

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.