M&G Plc Sells 3,011 Shares of Coterra Energy Inc. (NYSE:CTRA)

M&G Plc reduced its holdings in shares of Coterra Energy Inc. (NYSE:CTRA) by 7.4% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 37,622 shares of the company’s stock after selling 3,011 shares during the quarter. M&G Plc’s holdings in Coterra Energy were worth $903,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of the business. Fortitude Family Office LLC increased its holdings in shares of Coterra Energy by 154.9% during the second quarter. Fortitude Family Office LLC now owns 933 shares of the company’s stock worth $25,000 after buying an additional 567 shares in the last quarter. Larson Financial Group LLC raised its position 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 purchasing an additional 535 shares during the last quarter. Values First Advisors Inc. acquired a new stake in shares of Coterra Energy during the third quarter valued at about $57,000. Tobam bought a new stake in shares of Coterra Energy during the third quarter worth about $63,000. Finally, EverSource Wealth Advisors LLC increased its stake in shares of Coterra Energy by 31.0% in the first quarter. EverSource Wealth Advisors LLC now owns 2,351 shares of the company’s stock valued at $64,000 after buying an additional 557 shares during the period. 87.92% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the stock. Roth Mkm raised shares of Coterra Energy from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $25.00 to $29.00 in a report on Tuesday, August 27th. Piper Sandler restated an “overweight” rating and issued a $32.00 price objective (up from $31.00) on shares of Coterra Energy in a report on Monday, November 4th. Morgan Stanley cut their target price on Coterra Energy from $29.00 to $27.00 and set an “equal weight” rating on the stock in a report on Monday, September 16th. Mizuho increased their price target on Coterra Energy from $36.00 to $37.00 and gave the company an “outperform” rating in a research note on Friday, November 1st. Finally, Roth Capital upgraded Coterra Energy from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, August 27th. Two 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. Based on data from MarketBeat.com, Coterra Energy presently has an average rating of “Moderate Buy” and a consensus target price of $31.29.

Coterra Energy Price Performance

CTRA stock opened at $24.58 on Friday. Coterra Energy Inc. has a 1 year low of $22.30 and a 1 year high of $28.90. The stock has a market capitalization of $18.11 billion, a PE ratio of 14.81, a price-to-earnings-growth ratio of 1.54 and a beta of 0.22. The company’s 50-day moving average is $23.77 and its 200-day moving average is $25.56. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.61 and a quick ratio of 1.38.

Coterra Energy (NYSE:CTRA) last announced its quarterly earnings data 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 firm had revenue of $1.36 billion during the quarter, compared to analyst estimates of $1.28 billion. During the same period last year, the business posted $0.47 EPS. The company’s revenue was up .2% on a year-over-year basis. Equities research analysts expect that Coterra Energy Inc. will post 1.59 EPS for the current fiscal year.

Coterra Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 27th. Shareholders of record on Thursday, November 14th will be paid a dividend of $0.21 per share. The ex-dividend date of this dividend is Thursday, November 14th. This represents a $0.84 dividend on an annualized basis and a yield of 3.42%. Coterra Energy’s dividend payout ratio (DPR) is presently 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.