Coterra Energy Inc. $CTRA Shares Sold by Accurate Wealth Management LLC

Accurate Wealth Management LLC cut its holdings in Coterra Energy Inc. (NYSE:CTRA) by 17.4% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 29,683 shares of the company’s stock after selling 6,272 shares during the period. Accurate Wealth Management LLC’s holdings in Coterra Energy were worth $745,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of CTRA. Allspring Global Investments Holdings LLC grew its stake in shares of Coterra Energy by 7.6% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 123,054 shares of the company’s stock worth $3,577,000 after purchasing an additional 8,726 shares during the last quarter. Vontobel Holding Ltd. purchased a new position in Coterra Energy during the first quarter valued at approximately $233,000. Janney Montgomery Scott LLC grew its position in Coterra Energy by 9.4% during the first quarter. Janney Montgomery Scott LLC now owns 251,726 shares of the company’s stock valued at $7,275,000 after purchasing an additional 21,733 shares in the last quarter. Spire Wealth Management raised its position in Coterra Energy by 428.6% during the first quarter. Spire Wealth Management now owns 2,294 shares of the company’s stock valued at $66,000 after acquiring an additional 1,860 shares in the last quarter. Finally, Wealth Advisory Solutions LLC bought a new stake in Coterra Energy in the second quarter worth approximately $342,000. 87.92% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

CTRA has been the subject of several recent research reports. Raymond James Financial reissued an “outperform” rating and issued a $34.00 target price (down from $38.00) on shares of Coterra Energy in a research report on Thursday, September 11th. Barclays boosted their target price on shares of Coterra Energy from $35.00 to $37.00 and gave the stock an “overweight” rating in a research report on Monday, July 7th. Wells Fargo & Company boosted their target price on shares of Coterra Energy from $32.00 to $33.00 and gave the stock an “overweight” rating in a research report on Thursday, August 14th. Scotiabank restated an “outperform” rating on shares of Coterra Energy in a research note on Friday, July 11th. Finally, The Goldman Sachs Group reaffirmed a “neutral” rating and set a $31.00 price objective on shares of Coterra Energy in a report on Tuesday, July 1st. Fourteen research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $33.22.

Coterra Energy Price Performance

NYSE:CTRA opened at $23.74 on Thursday. The stock has a market cap of $18.11 billion, a P/E ratio of 11.36, a PEG ratio of 0.33 and a beta of 0.34. Coterra Energy Inc. has a one year low of $22.46 and a one year high of $29.95. The company has a fifty day moving average price of $23.96 and a 200 day moving average price of $25.18. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.13 and a quick ratio of 1.08.

Coterra Energy (NYSE:CTRA) last released its earnings results on Monday, August 4th. The company reported $0.48 EPS for the quarter, missing the consensus estimate of $0.50 by ($0.02). The company 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%. Coterra Energy’s revenue for the quarter was up 54.6% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.37 earnings per share. Analysts anticipate that Coterra Energy Inc. will post 1.54 earnings per share for the current year.

Coterra Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 28th. Stockholders of record on Thursday, August 14th were paid a $0.22 dividend. The ex-dividend date 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 currently 42.11%.

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.