Sentry Investment Management LLC Reduces Position in Coterra Energy Inc. (NYSE:CTRA)

Sentry Investment Management LLC lessened its holdings in shares of Coterra Energy Inc. (NYSE:CTRA) by 17.0% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 16,723 shares of the company’s stock after selling 3,425 shares during the quarter. Sentry Investment Management LLC’s holdings in Coterra Energy were worth $446,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. Fortitude Family Office LLC lifted its position in shares of Coterra Energy by 154.9% in the 2nd quarter. Fortitude Family Office LLC now owns 933 shares of the company’s stock worth $25,000 after buying an additional 567 shares during the last quarter. Larson Financial Group LLC increased its holdings in shares of Coterra Energy by 98.0% in the 2nd quarter. Larson Financial Group LLC now owns 1,081 shares of the company’s stock worth $29,000 after acquiring an additional 535 shares during the period. Central Pacific Bank Trust Division acquired a new stake in shares of Coterra Energy in the first quarter valued at approximately $44,000. Harbor Investment Advisory LLC raised its holdings in shares of Coterra Energy by 869.3% during the first quarter. Harbor Investment Advisory LLC now owns 1,609 shares of the company’s stock valued at $45,000 after buying an additional 1,443 shares during the last quarter. Finally, Northwest Investment Counselors LLC acquired a new position in shares of Coterra Energy during the first quarter worth approximately $47,000. 87.92% of the stock is owned by institutional investors and hedge funds.

Coterra Energy Stock Up 1.0 %

Coterra Energy stock opened at $22.84 on Thursday. The firm has a fifty day moving average price of $25.00 and a two-hundred day moving average price of $26.56. Coterra Energy Inc. has a fifty-two week low of $22.30 and a fifty-two week high of $29.89. The firm has a market cap of $17.00 billion, a price-to-earnings ratio of 13.24, a P/E/G ratio of 1.17 and a beta of 0.22. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.40 and a quick ratio of 1.38.

Coterra Energy (NYSE:CTRA) last announced its quarterly earnings data on Thursday, August 1st. The company reported $0.37 EPS for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.02). Coterra Energy had a net margin of 23.18% and a return on equity of 10.48%. The company had revenue of $1.27 billion for the quarter, compared to analyst estimates of $1.32 billion. During the same period in the prior year, the company posted $0.38 EPS. The firm’s quarterly revenue was up 7.3% on a year-over-year basis. As a group, analysts forecast that Coterra Energy Inc. will post 1.95 earnings per share for the current year.

Coterra Energy Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 29th. Shareholders of record on Thursday, August 15th were paid a dividend of $0.21 per share. The ex-dividend date of this dividend was Thursday, August 15th. This represents a $0.84 dividend on an annualized basis and a yield of 3.68%. Coterra Energy’s dividend payout ratio is currently 48.55%.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the company. Piper Sandler decreased their price target on Coterra Energy from $39.00 to $31.00 and set an “overweight” rating for the company in a research note on Thursday, August 15th. UBS Group cut their target price on Coterra Energy from $36.00 to $34.00 and set a “buy” rating for the company in a research report on Thursday, August 8th. Citigroup boosted their price objective on Coterra Energy from $30.00 to $31.00 and gave the stock a “buy” rating in a research note on Friday, May 24th. Roth Mkm raised shares of Coterra Energy from a “neutral” rating to a “buy” rating and upped their price target for the company from $25.00 to $29.00 in a report on Tuesday, August 27th. Finally, 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. Two research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $33.12.

Coterra Energy Company Profile

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.