Ferguson Wellman Capital Management Inc. Sells 21,279 Shares of Coterra Energy Inc. (NYSE:CTRA)

Ferguson Wellman Capital Management Inc. decreased its holdings in Coterra Energy Inc. (NYSE:CTRA) by 57.2% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 15,913 shares of the company’s stock after selling 21,279 shares during the period. Ferguson Wellman Capital Management Inc.’s holdings in Coterra Energy were worth $424,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Redwood Wealth Management Group LLC boosted its holdings in shares of Coterra Energy by 2.3% during the 1st quarter. Redwood Wealth Management Group LLC now owns 18,974 shares of the company’s stock valued at $529,000 after acquiring an additional 429 shares in the last quarter. Stone House Investment Management LLC boosted its holdings in shares of Coterra Energy by 32.4% during the 4th quarter. Stone House Investment Management LLC now owns 1,791 shares of the company’s stock valued at $46,000 after acquiring an additional 438 shares in the last quarter. Quent Capital LLC boosted its holdings in shares of Coterra Energy by 8.1% during the 1st quarter. Quent Capital LLC now owns 5,923 shares of the company’s stock valued at $165,000 after acquiring an additional 445 shares in the last quarter. Financial Advisors Network Inc. boosted its holdings in shares of Coterra Energy by 3.6% during the 4th quarter. Financial Advisors Network Inc. now owns 14,575 shares of the company’s stock valued at $372,000 after acquiring an additional 501 shares in the last quarter. Finally, Poehling Capital Management INC. lifted its holdings in Coterra Energy by 0.8% during the 1st quarter. Poehling Capital Management INC. now owns 70,632 shares of the company’s stock worth $1,969,000 after buying an additional 533 shares during the period. Institutional investors own 87.92% of the company’s stock.

Analysts Set New Price Targets

CTRA has been the topic of several recent research reports. Mizuho lifted their target price on Coterra Energy from $37.00 to $41.00 and gave the stock a “buy” rating in a report on Monday, May 13th. Morgan Stanley lifted their target price on Coterra Energy from $26.00 to $29.00 and gave the stock an “equal weight” rating in a report on Wednesday, April 17th. Wolfe Research initiated coverage on Coterra Energy in a report on Thursday, July 18th. They set an “outperform” rating and a $35.00 target price on the stock. BMO Capital Markets raised Coterra Energy to a “hold” rating in a report on Wednesday, July 3rd. Finally, Citigroup lifted their target price on Coterra Energy from $30.00 to $31.00 and gave the stock a “buy” rating in a report on Friday, May 24th. Two equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, Coterra Energy currently has a consensus rating of “Moderate Buy” and an average price target of $34.06.

Coterra Energy Stock Up 0.3 %

CTRA stock traded up $0.06 during trading on Wednesday, reaching $24.00. 3,023,639 shares of the stock were exchanged, compared to its average volume of 6,449,693. The firm’s 50 day moving average is $26.33 and its 200 day moving average is $26.69. Coterra Energy Inc. has a twelve month low of $23.18 and a twelve month high of $29.89. The company has a current ratio of 1.49, a quick ratio of 1.46 and a debt-to-equity ratio of 0.16. The firm has a market cap of $17.86 billion, a P/E ratio of 13.82, a price-to-earnings-growth ratio of 1.49 and a beta of 0.24.

Coterra Energy (NYSE:CTRA) last issued its quarterly earnings data on Thursday, August 1st. The company reported $0.37 EPS for the quarter, missing the consensus estimate of $0.39 by ($0.02). The company had revenue of $1.27 billion during the quarter, compared to analysts’ expectations of $1.32 billion. Coterra Energy had a return on equity of 10.49% and a net margin of 23.18%. The business’s revenue for the quarter was up 7.3% compared to the same quarter last year. During the same period last year, the company earned $0.38 earnings per share. As a group, research analysts forecast that Coterra Energy Inc. will post 2.02 EPS for the current year.

Coterra Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 29th. Stockholders of record on Thursday, August 15th will be paid a $0.21 dividend. This represents a $0.84 annualized dividend and a dividend yield of 3.50%. The ex-dividend date is Thursday, August 15th. Coterra Energy’s dividend payout ratio (DPR) is presently 48.55%.

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.