Oppenheimer & Co. Inc. Sells 590 Shares of Coterra Energy Inc. (NYSE:CTRA)

Oppenheimer & Co. Inc. reduced its stake in Coterra Energy Inc. (NYSE:CTRA) by 1.1% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 50,749 shares of the company’s stock after selling 590 shares during the period. Oppenheimer & Co. Inc.’s holdings in Coterra Energy were worth $1,215,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently modified their holdings of the stock. MQS Management LLC bought a new stake in shares of Coterra Energy in the 3rd quarter valued at approximately $776,000. Victory Capital Management Inc. grew its position in Coterra Energy by 1.2% during the 3rd quarter. Victory Capital Management Inc. now owns 16,963,084 shares of the company’s stock worth $406,266,000 after acquiring an additional 195,966 shares during the last quarter. Aigen Investment Management LP bought a new stake in Coterra Energy during the 3rd quarter worth approximately $376,000. Sumitomo Mitsui Trust Group Inc. increased its holdings in Coterra Energy by 2.5% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,650,859 shares of the company’s stock valued at $39,538,000 after purchasing an additional 40,569 shares in the last quarter. Finally, Nations Financial Group Inc. IA ADV increased its holdings in Coterra Energy by 4.2% during the 3rd quarter. Nations Financial Group Inc. IA ADV now owns 17,777 shares of the company’s stock valued at $426,000 after purchasing an additional 724 shares in the last quarter. 87.92% of the stock is currently owned by institutional investors.

Coterra Energy Stock Up 2.1 %

NYSE:CTRA opened at $26.12 on Tuesday. Coterra Energy Inc. has a 12-month low of $22.30 and a 12-month high of $28.90. The company has a quick ratio of 1.56, a current ratio of 1.61 and a debt-to-equity ratio of 0.16. The firm has a market capitalization of $19.24 billion, a P/E ratio of 15.77, a P/E/G ratio of 1.67 and a beta of 0.22. The stock’s fifty day simple moving average is $23.95 and its 200-day simple moving average is $25.45.

Coterra Energy (NYSE:CTRA) last posted 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). The company had revenue of $1.36 billion during the quarter, compared to the consensus estimate of $1.28 billion. Coterra Energy had a return on equity of 9.38% and a net margin of 21.91%. The firm’s revenue for the quarter was up .2% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.47 earnings per share. Equities research analysts expect that Coterra Energy Inc. will post 1.53 earnings per share for the current year.

Coterra Energy Dividend Announcement

The firm also recently announced 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. The ex-dividend date is Thursday, November 14th. This represents a $0.84 annualized dividend and a yield of 3.22%. Coterra Energy’s dividend payout ratio is presently 50.60%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on CTRA shares. JPMorgan Chase & Co. dropped their price target on Coterra Energy from $31.00 to $26.00 and set an “overweight” rating for the company in a report on Thursday, September 12th. Roth Capital raised Coterra Energy from a “hold” rating to a “strong-buy” rating in a report on Tuesday, August 27th. Stephens raised their price target on Coterra Energy from $28.00 to $29.00 and gave the company an “overweight” rating in a report on Friday, November 1st. Susquehanna raised their price target on Coterra Energy from $30.00 to $33.00 and gave the company a “positive” rating in a report on Thursday, November 14th. Finally, Truist Financial raised their price target on Coterra Energy from $31.00 to $33.00 and gave the company a “buy” rating in a report on Thursday, November 14th. Two analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $32.41.

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.