Verdence Capital Advisors LLC Sells 11,956 Shares of Coterra Energy Inc. (NYSE:CTRA)

Verdence Capital Advisors LLC decreased its holdings in shares of Coterra Energy Inc. (NYSE:CTRA) by 11.0% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 96,893 shares of the company’s stock after selling 11,956 shares during the period. Verdence Capital Advisors LLC’s holdings in Coterra Energy were worth $2,584,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Addison Capital Co lifted its stake in Coterra Energy by 7.9% during the second quarter. Addison Capital Co now owns 85,466 shares of the company’s stock worth $2,279,000 after purchasing an additional 6,232 shares during the period. apricus wealth LLC raised its stake in shares of Coterra Energy by 1.2% in the second quarter. apricus wealth LLC now owns 107,130 shares of the company’s stock valued at $2,857,000 after acquiring an additional 1,225 shares during the last quarter. Easterly Investment Partners LLC raised its stake in shares of Coterra Energy by 8.6% in the second quarter. Easterly Investment Partners LLC now owns 595,846 shares of the company’s stock valued at $15,891,000 after acquiring an additional 47,181 shares during the last quarter. Cypress Capital Group raised its stake in shares of Coterra Energy by 1.6% in the second quarter. Cypress Capital Group now owns 190,250 shares of the company’s stock valued at $5,074,000 after acquiring an additional 2,944 shares during the last quarter. Finally, Spirit of America Management Corp NY raised its stake in shares of Coterra Energy by 16.7% in the second quarter. Spirit of America Management Corp NY now owns 84,000 shares of the company’s stock valued at $2,240,000 after acquiring an additional 12,000 shares during the last quarter. Institutional investors own 87.92% of the company’s stock.

Coterra Energy Stock Up 0.2 %

CTRA traded up $0.04 during trading on Monday, hitting $24.20. The company had a trading volume of 3,299,596 shares, compared to its average volume of 6,348,720. The company has a market capitalization of $18.01 billion, a PE ratio of 14.02, a PEG ratio of 1.49 and a beta of 0.24. Coterra Energy Inc. has a one year low of $23.18 and a one year high of $29.89. The firm’s 50-day moving average price is $25.76 and its 200 day moving average price is $26.66. The company has a quick ratio of 1.46, a current ratio of 1.49 and a debt-to-equity ratio of 0.16.

Coterra Energy (NYSE:CTRA) last posted its quarterly earnings data on Thursday, August 1st. The company reported $0.37 EPS for the quarter, missing the consensus estimate of $0.39 by ($0.02). The company had revenue of $1.27 billion during the quarter, compared to the consensus estimate of $1.32 billion. Coterra Energy had a net margin of 23.18% and a return on equity of 10.49%. The company’s revenue was up 7.3% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.38 earnings per share. As a group, equities analysts expect that Coterra Energy Inc. will post 2.02 earnings per share for the current year.

Coterra Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 29th. Shareholders of record on Thursday, August 15th will be given a dividend of $0.21 per share. The ex-dividend date is Thursday, August 15th. This represents a $0.84 annualized dividend and a yield of 3.47%. Coterra Energy’s dividend payout ratio (DPR) is presently 48.55%.

Analyst Ratings Changes

CTRA has been the subject of several research analyst reports. Citigroup boosted their price objective on shares of Coterra Energy from $30.00 to $31.00 and gave the stock a “buy” rating in a research report on Friday, May 24th. Mizuho lifted their target price on shares of Coterra Energy from $37.00 to $41.00 and gave the stock a “buy” rating in a report on Monday, May 13th. Susquehanna lifted their target price on shares of Coterra Energy from $32.00 to $33.00 and gave the stock a “positive” rating in a report on Tuesday, May 7th. Bank of America reaffirmed a “buy” rating and set a $34.00 target price on shares of Coterra Energy in a report on Friday, June 14th. Finally, BMO Capital Markets raised shares of Coterra Energy to a “hold” rating in a report on Wednesday, July 3rd. Two analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. Based on data from MarketBeat.com, Coterra Energy presently has a consensus rating of “Moderate Buy” and a consensus target price of $33.56.

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.