Sequoia Financial Advisors LLC Cuts Holdings in Coterra Energy Inc. $CTRA

Sequoia Financial Advisors LLC decreased its stake in shares of Coterra Energy Inc. (NYSE:CTRA) by 6.9% during the 2nd quarter, Holdings Channel.com reports. The firm owned 27,425 shares of the company’s stock after selling 2,031 shares during the period. Sequoia Financial Advisors LLC’s holdings in Coterra Energy were worth $696,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of the stock. Vanguard Group Inc. increased its holdings in Coterra Energy by 4.3% during the 1st quarter. Vanguard Group Inc. now owns 92,337,673 shares of the company’s stock worth $2,668,559,000 after purchasing an additional 3,818,700 shares during the period. Wellington Management Group LLP boosted its position in shares of Coterra Energy by 15.3% during the 1st quarter. Wellington Management Group LLP now owns 83,631,117 shares of the company’s stock worth $2,416,939,000 after acquiring an additional 11,102,350 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its position in shares of Coterra Energy by 7.8% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 25,304,940 shares of the company’s stock worth $731,313,000 after acquiring an additional 1,837,614 shares in the last quarter. Victory Capital Management Inc. boosted its position in shares of Coterra Energy by 5.7% during the 1st quarter. Victory Capital Management Inc. now owns 18,828,688 shares of the company’s stock worth $544,149,000 after acquiring an additional 1,019,995 shares in the last quarter. Finally, Invesco Ltd. boosted its position in shares of Coterra Energy by 1.2% during the 1st quarter. Invesco Ltd. now owns 12,384,728 shares of the company’s stock worth $357,919,000 after acquiring an additional 152,244 shares in the last quarter. Hedge funds and other institutional investors own 87.92% of the company’s stock.

Coterra Energy Stock Up 1.0%

Shares of NYSE CTRA opened at $22.82 on Friday. The stock has a market cap of $17.41 billion, a PE ratio of 10.92, a price-to-earnings-growth ratio of 0.34 and a beta of 0.29. 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 52-week low of $22.33 and a 52-week high of $29.95. The business has a 50-day moving average price of $23.80 and a 200 day moving average price of $24.58.

Coterra Energy (NYSE:CTRA) last announced its earnings results on Monday, August 4th. The company reported $0.48 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.50 by ($0.02). The firm had revenue of $1.97 billion during 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%. The firm’s revenue for the quarter was up 54.6% compared to the same quarter last year. During the same period last year, the company earned $0.37 earnings per share. Equities research analysts forecast that Coterra Energy Inc. will post 1.54 earnings per share for the current year.

Coterra Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 28th. Shareholders of record on Thursday, August 14th were given a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a yield of 3.9%. The ex-dividend date of this dividend was Thursday, August 14th. Coterra Energy’s dividend payout ratio (DPR) is presently 42.11%.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on CTRA. Piper Sandler upped their price objective on Coterra Energy from $37.00 to $39.00 and gave the stock an “overweight” rating in a research report on Thursday, August 14th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Coterra Energy in a research report on Wednesday, October 8th. Roth Capital lowered their price objective on Coterra Energy from $27.00 to $26.00 and set a “buy” rating for the company in a research report on Wednesday. Zacks Research cut Coterra Energy from a “hold” rating to a “strong sell” rating in a research report on Monday, October 13th. Finally, JPMorgan Chase & Co. upped their price objective on Coterra Energy from $33.00 to $35.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 7th. Sixteen investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Coterra Energy has an average rating of “Moderate Buy” and a consensus price target of $32.50.

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.