Integrated Wealth Concepts LLC Sells 1,155 Shares of Coterra Energy Inc. (NYSE:CTRA)

Integrated Wealth Concepts LLC trimmed its stake in Coterra Energy Inc. (NYSE:CTRA) by 7.2% during the third quarter, HoldingsChannel.com reports. The fund owned 14,942 shares of the company’s stock after selling 1,155 shares during the quarter. Integrated Wealth Concepts LLC’s holdings in Coterra Energy were worth $358,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Charles Schwab Investment Management Inc. boosted its stake in shares of Coterra Energy by 1.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 22,156,361 shares of the company’s stock valued at $530,645,000 after purchasing an additional 305,626 shares in the last quarter. Hartford Funds Management Co LLC acquired a new position in Coterra Energy in the third quarter valued at about $575,000. HITE Hedge Asset Management LLC grew its stake in Coterra Energy by 406.3% during the third quarter. HITE Hedge Asset Management LLC now owns 707,729 shares of the company’s stock worth $16,950,000 after buying an additional 567,934 shares during the last quarter. Raymond James & Associates increased its holdings in shares of Coterra Energy by 5.0% during the second quarter. Raymond James & Associates now owns 1,187,663 shares of the company’s stock worth $31,675,000 after buying an additional 56,748 shares in the last quarter. Finally, MQS Management LLC bought a new position in shares of Coterra Energy in the third quarter valued at approximately $776,000. 87.92% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, SVP Kevin William Smith sold 29,643 shares of the firm’s stock in a transaction dated Tuesday, December 3rd. The shares were sold at an average price of $26.16, for a total transaction of $775,460.88. Following the completion of the sale, the senior vice president now owns 77,075 shares in the company, valued at approximately $2,016,282. This trade represents a 27.78 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, SVP Adam M. Vela sold 16,435 shares of the stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $26.76, for a total transaction of $439,800.60. Following the completion of the transaction, the senior vice president now directly owns 72,409 shares in the company, valued at approximately $1,937,664.84. This represents a 18.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.70% of the stock is currently owned by corporate insiders.

Coterra Energy Trading Up 2.2 %

Shares of NYSE:CTRA opened at $25.36 on Thursday. The company’s 50-day moving average price is $24.97 and its two-hundred day moving average price is $25.25. Coterra Energy Inc. has a one year low of $22.30 and a one year 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 1.56. The stock has a market capitalization of $18.68 billion, a PE ratio of 15.28, a price-to-earnings-growth ratio of 1.62 and a beta of 0.27.

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

Coterra Energy Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, November 27th. Investors of record on Thursday, November 14th were paid a $0.21 dividend. The ex-dividend date was Thursday, November 14th. This represents a $0.84 annualized dividend and a yield of 3.31%. Coterra Energy’s dividend payout ratio (DPR) is currently 50.60%.

Analysts Set New Price Targets

A number of research firms recently weighed in on CTRA. 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. Stephens raised their target price on Coterra Energy from $28.00 to $29.00 and gave the company an “overweight” rating in a research note on Friday, November 1st. Scotiabank reduced their price target 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. Citigroup raised their price objective on shares of Coterra Energy from $28.00 to $32.00 and gave the company a “buy” rating in a research report on Tuesday, November 26th. Finally, 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. Two 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 stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $32.47.

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.