Ashton Thomas Private Wealth LLC Trims Holdings in Coterra Energy Inc. (NYSE:CTRA)

Ashton Thomas Private Wealth LLC decreased its position in shares of Coterra Energy Inc. (NYSE:CTRA) by 2.8% during the third quarter, Holdings Channel.com reports. The fund owned 50,029 shares of the company’s stock after selling 1,465 shares during the quarter. Ashton Thomas Private Wealth LLC’s holdings in Coterra Energy were worth $1,198,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also added to or reduced their stakes in the company. BNP PARIBAS ASSET MANAGEMENT Holding S.A. purchased a new position in Coterra Energy in the 1st quarter worth approximately $656,000. Quadrature Capital Ltd lifted its holdings in shares of Coterra Energy by 112.2% in the first quarter. Quadrature Capital Ltd now owns 72,395 shares of the company’s stock worth $2,018,000 after buying an additional 38,278 shares in the last quarter. CreativeOne Wealth LLC lifted its holdings in shares of Coterra Energy by 130.3% in the first quarter. CreativeOne Wealth LLC now owns 56,860 shares of the company’s stock worth $1,586,000 after buying an additional 32,173 shares in the last quarter. Raymond James & Associates boosted its position in shares of Coterra Energy by 5.0% during the second quarter. Raymond James & Associates now owns 1,187,663 shares of the company’s stock worth $31,675,000 after acquiring an additional 56,748 shares during the last quarter. Finally, Disciplined Growth Investors Inc. MN increased its holdings in Coterra Energy by 1.0% in the 2nd quarter. Disciplined Growth Investors Inc. MN now owns 5,063,920 shares of the company’s stock valued at $135,055,000 after acquiring an additional 51,249 shares during the last quarter. Hedge funds and other institutional investors own 87.92% of the company’s stock.

Coterra Energy Price Performance

Shares of CTRA stock opened at $25.61 on Thursday. The stock has a 50 day moving average price of $23.86 and a 200 day moving average price of $25.50. Coterra Energy Inc. has a 52-week low of $22.30 and a 52-week high of $28.90. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.56 and a current ratio of 1.61. The firm has a market capitalization of $18.86 billion, a P/E ratio of 15.43, a P/E/G ratio of 1.64 and a beta of 0.22.

Coterra Energy (NYSE:CTRA) last released its quarterly earnings data on Thursday, October 31st. The company reported $0.32 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.35 by ($0.03). The company had revenue of $1.36 billion during the quarter, compared to analysts’ expectations of $1.28 billion. Coterra Energy had a net margin of 21.91% and a return on equity of 9.38%. Coterra Energy’s quarterly revenue was up .2% on a year-over-year basis. During the same period last year, the firm earned $0.47 earnings per share. As a group, sell-side analysts predict that Coterra Energy Inc. will post 1.53 earnings per share for the current year.

Coterra Energy Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 27th. Stockholders of record on Thursday, November 14th will be issued a $0.21 dividend. The ex-dividend date of this dividend is Thursday, November 14th. This represents a $0.84 annualized dividend and a dividend yield of 3.28%. Coterra Energy’s dividend payout ratio is currently 50.60%.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on the company. Barclays cut their price objective on Coterra Energy from $33.00 to $31.00 and set an “overweight” rating for the company in a research report on Thursday, October 3rd. Wolfe Research assumed coverage on Coterra Energy in a report on Thursday, July 18th. They set an “outperform” rating and a $35.00 price objective on the stock. Mizuho raised their target price on shares of Coterra Energy from $36.00 to $37.00 and gave the company an “outperform” rating in a report on Friday, November 1st. Susquehanna decreased their price target on shares of Coterra Energy from $33.00 to $30.00 and set a “positive” rating on the stock in a research note on Wednesday, September 4th. Finally, Roth Mkm raised shares of Coterra Energy from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $25.00 to $29.00 in a research note on Tuesday, August 27th. Two analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Coterra Energy presently has an average rating of “Moderate Buy” and a consensus target price of $31.29.

Coterra Energy 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.