Moors & Cabot Inc. Decreases Stock Holdings in Coterra Energy Inc. (NYSE:CTRA)

Moors & Cabot Inc. trimmed its holdings in Coterra Energy Inc. (NYSE:CTRA) by 2.4% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 121,059 shares of the company’s stock after selling 2,942 shares during the quarter. Moors & Cabot Inc.’s holdings in Coterra Energy were worth $2,899,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in CTRA. Victory Capital Management Inc. raised its position in Coterra Energy by 1.2% in the third 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 period. King Luther Capital Management Corp grew its stake in shares of Coterra Energy by 4.4% during the second quarter. King Luther Capital Management Corp now owns 6,783,690 shares of the company’s stock worth $180,921,000 after purchasing an additional 285,774 shares in the last quarter. Disciplined Growth Investors Inc. MN boosted its stake in Coterra Energy by 1.0% in the second 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 in the last quarter. American Century Companies Inc. boosted its stake in Coterra Energy by 29.1% in the second quarter. American Century Companies Inc. now owns 4,498,227 shares of the company’s stock valued at $119,968,000 after acquiring an additional 1,013,107 shares in the last quarter. Finally, Equity Investment Corp raised its holdings in shares of Coterra Energy by 5.1% in the third quarter. Equity Investment Corp now owns 3,393,798 shares of the company’s stock valued at $81,281,000 after buying an additional 166,120 shares during the last quarter. Hedge funds and other institutional investors own 87.92% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on CTRA shares. UBS Group increased their price target on shares of Coterra Energy from $31.00 to $35.00 and gave the stock a “buy” rating in a report on Friday, November 15th. Truist Financial upped their target price on shares of Coterra Energy from $31.00 to $33.00 and gave the stock a “buy” rating in a research report on Thursday, November 14th. Piper Sandler upped their target price on shares of Coterra Energy from $32.00 to $35.00 and gave the stock an “overweight” rating in a research report on Thursday, November 14th. Scotiabank lowered their target price on shares of Coterra Energy from $35.00 to $32.00 and set a “sector outperform” rating on the stock in a research report on Thursday, October 10th. Finally, Wells Fargo & Company increased their price target on shares of Coterra Energy from $32.00 to $35.00 and gave the company an “overweight” rating in a research report on Friday, November 15th. Two 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 company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $32.41.

Coterra Energy Stock Performance

Shares of CTRA stock opened at $26.83 on Thursday. The company’s fifty day simple moving average is $24.09 and its 200-day simple moving average is $25.43. Coterra Energy Inc. has a 52 week low of $22.30 and a 52 week high of $28.90. The company has a current ratio of 1.61, a quick ratio of 1.56 and a debt-to-equity ratio of 0.16. The company has a market cap of $19.76 billion, a PE ratio of 16.16, a P/E/G ratio of 1.67 and a beta of 0.22.

Coterra Energy (NYSE:CTRA) last issued its earnings results on Thursday, October 31st. The company reported $0.32 EPS for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.03). Coterra Energy had a net margin of 21.91% and a return on equity of 9.38%. The business had revenue of $1.36 billion during the quarter, compared to analysts’ expectations of $1.28 billion. During the same period in the prior year, the business posted $0.47 EPS. The business’s revenue was up .2% on a year-over-year basis. As a group, equities research analysts anticipate that Coterra Energy Inc. will post 1.53 EPS for the current year.

Coterra Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 27th. Shareholders of record on Thursday, November 14th will be issued a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a yield of 3.13%. The ex-dividend date is Thursday, November 14th. Coterra Energy’s dividend payout ratio is currently 50.60%.

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.