Coterra Energy Inc. (NYSE:CTRA) Shares Sold by Cypress Capital Group

Cypress Capital Group trimmed its holdings in shares of Coterra Energy Inc. (NYSE:CTRA) by 4.8% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 181,078 shares of the company’s stock after selling 9,172 shares during the quarter. Cypress Capital Group’s holdings in Coterra Energy were worth $4,337,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently modified their holdings of the stock. Victory Capital Management Inc. grew its stake in Coterra Energy by 1.2% during the 3rd quarter. Victory Capital Management Inc. now owns 16,963,084 shares of the company’s stock valued at $406,266,000 after purchasing an additional 195,966 shares during the last quarter. King Luther Capital Management Corp raised its position in Coterra Energy by 4.4% during the 2nd quarter. King Luther Capital Management Corp now owns 6,783,690 shares of the company’s stock worth $180,921,000 after buying an additional 285,774 shares during the last quarter. Disciplined Growth Investors Inc. MN boosted its holdings in shares of 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. American Century Companies Inc. increased its stake in shares of Coterra Energy by 29.1% in the second quarter. American Century Companies Inc. now owns 4,498,227 shares of the company’s stock worth $119,968,000 after acquiring an additional 1,013,107 shares during the period. Finally, Equity Investment Corp raised its holdings in shares of Coterra Energy by 5.1% during the third quarter. Equity Investment Corp now owns 3,393,798 shares of the company’s stock worth $81,281,000 after purchasing an additional 166,120 shares during the last quarter. Institutional investors and hedge funds own 87.92% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have commented on CTRA. 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. Stephens raised their target price on Coterra Energy from $28.00 to $29.00 and gave the stock an “overweight” rating in a report on Friday, November 1st. Roth Capital raised Coterra Energy from a “hold” rating to a “strong-buy” rating in a report on Tuesday, August 27th. Morgan Stanley raised their price objective on shares of Coterra Energy from $27.00 to $29.00 and gave the stock an “equal weight” rating in a research note on Thursday, November 14th. Finally, Piper Sandler boosted their target price on shares of Coterra Energy from $32.00 to $35.00 and gave the company an “overweight” rating in a research note on Thursday, November 14th. Two research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $32.41.

Coterra Energy Price Performance

NYSE:CTRA opened at $26.83 on Thursday. The stock has a 50 day moving average price of $24.09 and a 200 day moving average price of $25.43. The stock has a market cap of $19.76 billion, a PE ratio of 16.16, a P/E/G ratio of 1.71 and a beta of 0.22. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.56 and a current ratio of 1.61. Coterra Energy Inc. has a one year low of $22.30 and a one year high of $28.90.

Coterra Energy (NYSE:CTRA) last announced its quarterly earnings results on Thursday, October 31st. The company reported $0.32 earnings per share for the quarter, missing the consensus estimate of $0.35 by ($0.03). Coterra Energy had a net margin of 21.91% and a return on equity of 9.38%. The firm had revenue of $1.36 billion for the quarter, compared to analyst estimates of $1.28 billion. During the same period in the previous year, the firm posted $0.47 EPS. The company’s revenue was up .2% compared to the same quarter last year. Equities research analysts expect that Coterra Energy Inc. will post 1.53 EPS for the current fiscal year.

Coterra Energy Dividend Announcement

The company 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 dividend of $0.21 per share. The ex-dividend date is Thursday, November 14th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 3.13%. Coterra Energy’s dividend payout ratio is currently 50.60%.

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.