Coterra Energy Inc. $CTRA Position Cut by Sterling Capital Management LLC

Sterling Capital Management LLC lowered its holdings in shares of Coterra Energy Inc. (NYSE:CTRA) by 5.7% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,324,276 shares of the company’s stock after selling 199,762 shares during the period. Coterra Energy makes up 1.2% of Sterling Capital Management LLC’s holdings, making the stock its 18th largest position. Sterling Capital Management LLC owned approximately 0.44% of Coterra Energy worth $84,370,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of the business. Tectonic Advisors LLC raised its stake in shares of Coterra Energy by 3.2% during the first quarter. Tectonic Advisors LLC now owns 14,834 shares of the company’s stock valued at $429,000 after purchasing an additional 459 shares in the last quarter. Hartford Funds Management Co LLC increased its stake in Coterra Energy by 1.4% during the 1st quarter. Hartford Funds Management Co LLC now owns 35,301 shares of the company’s stock valued at $1,020,000 after buying an additional 472 shares during the period. Horizon Investments LLC increased its stake in Coterra Energy by 4.5% during the 1st quarter. Horizon Investments LLC now owns 10,935 shares of the company’s stock valued at $316,000 after buying an additional 474 shares during the period. Argonautica Private Wealth Management Inc. raised its position in shares of Coterra Energy by 4.0% during the 1st quarter. Argonautica Private Wealth Management Inc. now owns 12,282 shares of the company’s stock worth $355,000 after buying an additional 477 shares in the last quarter. Finally, Wellington Shields Capital Management LLC lifted its stake in shares of Coterra Energy by 5.4% in the 2nd quarter. Wellington Shields Capital Management LLC now owns 9,725 shares of the company’s stock worth $247,000 after acquiring an additional 500 shares during the period. Institutional investors own 87.92% of the company’s stock.

Coterra Energy Trading Up 2.4%

Coterra Energy stock opened at $26.36 on Friday. 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 12 month low of $22.33 and a 12 month high of $29.95. The company’s fifty day simple moving average is $23.88 and its 200-day simple moving average is $24.44. The stock has a market cap of $20.12 billion, a P/E ratio of 12.61, a P/E/G ratio of 0.36 and a beta of 0.30.

Coterra Energy (NYSE:CTRA) last announced its quarterly earnings results on Monday, November 3rd. The company reported $0.41 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.43 by ($0.02). Coterra Energy had a net margin of 23.80% and a return on equity of 10.99%. The firm had revenue of $558.00 million for the quarter, compared to analyst estimates of $1.83 billion. During the same quarter in the prior year, the firm earned $0.32 earnings per share. The firm’s quarterly revenue was up 33.7% compared to the same quarter last year. As a group, sell-side analysts forecast that Coterra Energy Inc. will post 1.54 EPS for the current fiscal year.

Coterra Energy Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 26th. Stockholders of record on Thursday, November 13th will be issued a dividend of $0.22 per share. The ex-dividend date is Thursday, November 13th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 3.3%. Coterra Energy’s dividend payout ratio (DPR) is currently 40.55%.

Analyst Ratings Changes

A number of research analysts recently commented on the stock. Roth Capital reiterated a “buy” rating and set a $27.00 price objective on shares of Coterra Energy in a research note on Tuesday. The Goldman Sachs Group cut their price objective on Coterra Energy from $30.00 to $29.00 and set a “neutral” rating for the company in a report on Wednesday, October 15th. Susquehanna dropped their price target on shares of Coterra Energy from $32.00 to $31.00 and set a “positive” rating on the stock in a research report on Monday, October 20th. Weiss Ratings reiterated a “hold (c)” rating on shares of Coterra Energy in a report on Wednesday, October 8th. Finally, UBS Group decreased their target price on Coterra Energy from $30.00 to $29.00 and set a “buy” rating on the stock in a report on Tuesday, October 14th. Sixteen investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $32.35.

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.