Coterra Energy Inc. (NYSE:CTRA) Shares Sold by McCollum Christoferson Group LLC

McCollum Christoferson Group LLC lowered its position in Coterra Energy Inc. (NYSE:CTRA) by 1.9% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 285,700 shares of the company’s stock after selling 5,430 shares during the period. Coterra Energy makes up about 2.0% of McCollum Christoferson Group LLC’s investment portfolio, making the stock its 25th biggest position. McCollum Christoferson Group LLC’s holdings in Coterra Energy were worth $6,843,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Bank of Montreal Can grew its holdings in Coterra Energy by 160.1% during the 2nd quarter. Bank of Montreal Can now owns 2,898,876 shares of the company’s stock valued at $80,154,000 after buying an additional 1,784,192 shares during the last quarter. SG Americas Securities LLC grew its holdings in Coterra Energy by 2,609.6% during the 1st quarter. SG Americas Securities LLC now owns 1,541,342 shares of the company’s stock valued at $42,973,000 after buying an additional 1,484,458 shares during the last quarter. Marshall Wace LLP grew its holdings in Coterra Energy by 5,325.5% during the 2nd quarter. Marshall Wace LLP now owns 1,148,569 shares of the company’s stock valued at $30,632,000 after buying an additional 1,127,399 shares during the last quarter. Clearbridge Investments LLC acquired a new stake in Coterra Energy during the 1st quarter valued at $28,967,000. Finally, American Century Companies Inc. boosted its holdings in shares of Coterra Energy by 29.1% during the second quarter. American Century Companies Inc. now owns 4,498,227 shares of the company’s stock worth $119,968,000 after purchasing an additional 1,013,107 shares during the last quarter. Institutional investors and hedge funds own 87.92% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on CTRA shares. Wolfe Research started coverage on Coterra Energy in a report on Thursday, July 18th. They set an “outperform” rating and a $35.00 price objective on the stock. Roth Capital upgraded Coterra Energy from a “hold” rating to a “strong-buy” rating in a report on Tuesday, August 27th. BMO Capital Markets upgraded Coterra Energy to a “hold” rating in a report on Wednesday, July 3rd. Scotiabank decreased their price objective on Coterra Energy from $35.00 to $32.00 and set a “sector outperform” rating on the stock in a report on Thursday, October 10th. Finally, UBS Group decreased their price objective on Coterra Energy from $34.00 to $31.00 and set a “buy” rating on the stock in a report on Wednesday, September 18th. Two research 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. According to data from MarketBeat, Coterra Energy currently has a consensus rating of “Moderate Buy” and an average price target of $32.06.

Coterra Energy Stock Down 1.5 %

Shares of NYSE CTRA opened at $23.74 on Thursday. Coterra Energy Inc. has a 1 year low of $22.30 and a 1 year high of $29.89. The firm has a market cap of $17.67 billion, a price-to-earnings ratio of 13.72, a PEG ratio of 1.41 and a beta of 0.22. 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 stock’s 50-day simple moving average is $23.87 and its 200-day simple moving average is $26.04.

Coterra Energy (NYSE:CTRA) last announced its earnings results on Thursday, August 1st. The company reported $0.37 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.02). Coterra Energy had a return on equity of 10.48% and a net margin of 23.18%. The business had revenue of $1.27 billion for the quarter, compared to analysts’ expectations of $1.32 billion. During the same period in the previous year, the firm posted $0.38 earnings per share. The firm’s revenue was up 7.3% compared to the same quarter last year. As a group, equities analysts anticipate that Coterra Energy Inc. will post 1.72 earnings per share for the current fiscal year.

Coterra Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 29th. Stockholders of record on Thursday, August 15th were given 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 payout ratio is 48.55%.

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.