1834 Investment Advisors Co. Reduces Holdings in Coterra Energy Inc. (NYSE:CTRA)

1834 Investment Advisors Co. cut its position in Coterra Energy Inc. (NYSE:CTRA) by 1.1% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 350,979 shares of the company’s stock after selling 4,038 shares during the quarter. Coterra Energy accounts for 1.0% of 1834 Investment Advisors Co.’s portfolio, making the stock its 28th largest position. 1834 Investment Advisors Co.’s holdings in Coterra Energy were worth $8,406,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in the company. Fortitude Family Office LLC raised 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 valued at $25,000 after purchasing an additional 567 shares in the last quarter. Larson Financial Group LLC raised its holdings in Coterra Energy by 98.0% in the second quarter. Larson Financial Group LLC now owns 1,081 shares of the company’s stock valued at $29,000 after acquiring an additional 535 shares in the last quarter. Central Pacific Bank Trust Division bought a new position in Coterra Energy during the 1st quarter valued at $44,000. Values First Advisors Inc. acquired a new position in Coterra Energy during the 3rd quarter worth $57,000. Finally, Tobam bought a new stake in shares of Coterra Energy in the 3rd quarter worth about $63,000. 87.92% of the stock is owned by institutional investors and hedge funds.

Coterra Energy Stock Performance

Shares of CTRA stock opened at $23.32 on Wednesday. Coterra Energy Inc. has a 12-month low of $22.30 and a 12-month high of $28.90. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.61 and a quick ratio of 1.38. The firm has a market capitalization of $17.24 billion, a price-to-earnings ratio of 14.05, a price-to-earnings-growth ratio of 1.40 and a beta of 0.22. The business has a 50 day simple moving average of $23.75 and a 200 day simple moving average of $25.62.

Coterra Energy (NYSE:CTRA) last released its quarterly earnings results 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). Coterra Energy had a return on equity of 9.38% and a net margin of 21.91%. The business had revenue of $1.36 billion during the quarter, compared to the consensus estimate of $1.28 billion. During the same period in the previous year, the company posted $0.47 EPS. The company’s revenue for the quarter was up .2% compared to the same quarter last year. On average, equities research analysts anticipate that Coterra Energy Inc. will post 1.62 EPS for the current year.

Coterra Energy Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 27th. Stockholders of record on Thursday, November 14th will be paid a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a dividend yield of 3.60%. The ex-dividend date of this dividend is Thursday, November 14th. Coterra Energy’s dividend payout ratio is currently 50.60%.

Analysts Set New Price Targets

Several brokerages have recently commented on CTRA. Barclays reduced their price target on shares of Coterra Energy from $33.00 to $31.00 and set an “overweight” rating on the stock in a research report on Thursday, October 3rd. Roth Mkm upgraded Coterra Energy from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $25.00 to $29.00 in a research report on Tuesday, August 27th. Roth Capital raised Coterra Energy from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, August 27th. Susquehanna reduced their price objective on 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, Wolfe Research started coverage on shares of Coterra Energy in a research note on Thursday, July 18th. They set an “outperform” rating and a $35.00 target price for the company. Two equities research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average 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.