Coterra Energy Inc. (NYSE:CTRA) Shares Sold by Inspire Investing LLC

Inspire Investing LLC reduced its stake in shares of Coterra Energy Inc. (NYSE:CTRA) by 78.8% during the 2nd quarter, HoldingsChannel reports. The institutional investor owned 10,148 shares of the company’s stock after selling 37,640 shares during the quarter. Inspire Investing LLC’s holdings in Coterra Energy were worth $271,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in CTRA. Vanguard Group Inc. increased its stake in Coterra Energy by 0.5% in the 4th quarter. Vanguard Group Inc. now owns 87,927,114 shares of the company’s stock valued at $2,243,900,000 after purchasing an additional 407,244 shares in the last quarter. Schroder Investment Management Group increased its position in shares of Coterra Energy by 8.7% in the fourth quarter. Schroder Investment Management Group now owns 7,815,648 shares of the company’s stock valued at $199,455,000 after buying an additional 628,132 shares in the last quarter. American Century Companies Inc. boosted its position in shares of Coterra Energy by 29.1% in the 2nd quarter. American Century Companies Inc. now owns 4,498,227 shares of the company’s stock worth $119,968,000 after buying an additional 1,013,107 shares in the last quarter. Equity Investment Corp grew its stake in Coterra Energy by 0.7% in the 2nd quarter. Equity Investment Corp now owns 3,227,678 shares of the company’s stock valued at $86,082,000 after acquiring an additional 22,017 shares during the last quarter. Finally, Captrust Financial Advisors raised its position in Coterra Energy by 4.6% during the first quarter. Captrust Financial Advisors now owns 2,952,024 shares of the company’s stock worth $78,422,000 after acquiring an additional 128,720 shares during the last quarter. 87.92% of the stock is owned by hedge funds and other institutional investors.

Coterra Energy Stock Down 0.9 %

CTRA opened at $23.76 on Wednesday. Coterra Energy Inc. has a 1 year low of $22.30 and a 1 year high of $29.89. The firm has a 50 day moving average price of $24.29 and a 200 day moving average price of $26.36. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.38 and a current ratio of 1.40. The company has a market cap of $17.68 billion, a PE ratio of 13.73, a price-to-earnings-growth ratio of 1.16 and a beta of 0.22.

Coterra Energy (NYSE:CTRA) last released its quarterly earnings data on Thursday, August 1st. The company reported $0.37 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.39 by ($0.02). The business had revenue of $1.27 billion during the quarter, compared to analyst estimates of $1.32 billion. Coterra Energy had a return on equity of 10.48% and a net margin of 23.18%. Coterra Energy’s revenue was up 7.3% on a year-over-year basis. During the same period in the previous year, the company earned $0.38 EPS. Sell-side analysts expect that Coterra Energy Inc. will post 1.95 earnings per share for the current year.

Coterra Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 29th. Shareholders of record on Thursday, August 15th were paid a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 3.54%. The ex-dividend date was Thursday, August 15th. Coterra Energy’s dividend payout ratio is presently 48.55%.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on the stock. Morgan Stanley dropped their price objective on shares of Coterra Energy from $29.00 to $27.00 and set an “equal weight” rating for the company in a research note on Monday, September 16th. Truist Financial dropped their price objective on Coterra Energy from $35.00 to $34.00 and set a “buy” rating for the company in a research report on Monday, July 22nd. UBS Group decreased their price target on shares of Coterra Energy from $34.00 to $31.00 and set a “buy” rating on the stock in a research note on Wednesday, September 18th. Bank of America reissued a “buy” rating and issued a $34.00 price objective on shares of Coterra Energy in a research report on Friday, June 14th. Finally, Roth Mkm upgraded shares of Coterra Energy from a “neutral” rating to a “buy” rating and raised their target price for the stock from $25.00 to $29.00 in a research report on Tuesday, August 27th. Two investment 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’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $32.59.

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.