Coterra Energy Inc. (NYSE:CTRA) Shares Sold by Wrapmanager Inc.

Wrapmanager Inc. cut its holdings in Coterra Energy Inc. (NYSE:CTRA) by 8.9% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 7,978 shares of the company’s stock after selling 784 shares during the quarter. Wrapmanager Inc.’s holdings in Coterra Energy were worth $213,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Balyasny Asset Management L.P. acquired a new position in shares of Coterra Energy in the 4th quarter worth $54,625,000. SG Americas Securities LLC boosted its position in shares of Coterra Energy by 2,609.6% in the 1st quarter. SG Americas Securities LLC now owns 1,541,342 shares of the company’s stock valued at $42,973,000 after purchasing an additional 1,484,458 shares during the period. Bridgewater Associates LP purchased a new position in Coterra Energy in the 4th quarter worth about $31,112,000. Clearbridge Investments LLC acquired a new stake in Coterra Energy during the 1st quarter worth about $28,967,000. Finally, American Century Companies Inc. lifted its stake in Coterra Energy by 29.1% during the second quarter. American Century Companies Inc. now owns 4,498,227 shares of the company’s stock valued at $119,968,000 after buying an additional 1,013,107 shares in the last quarter. 87.92% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on CTRA. JPMorgan Chase & Co. dropped their target price on shares of Coterra Energy from $31.00 to $26.00 and set an “overweight” rating on the stock in a research report on Thursday. Wolfe Research initiated coverage on shares of Coterra Energy in a research note on Thursday, July 18th. They set an “outperform” rating and a $35.00 target price on the stock. Bank of America reiterated a “buy” rating and set a $34.00 price target on shares of Coterra Energy in a report on Friday, June 14th. BMO Capital Markets raised Coterra Energy to a “hold” rating in a research report on Wednesday, July 3rd. Finally, Citigroup raised their price objective on Coterra Energy from $30.00 to $31.00 and gave the stock a “buy” rating in a research report on Friday, May 24th. Two equities research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Coterra Energy presently has an average rating of “Moderate Buy” and an average target price of $32.88.

Coterra Energy Price Performance

Coterra Energy stock opened at $22.78 on Friday. The company has a market capitalization of $16.95 billion, a P/E ratio of 13.17, a P/E/G ratio of 1.16 and a beta of 0.22. Coterra Energy Inc. has a 1-year low of $22.30 and a 1-year high of $29.89. The firm’s fifty day simple moving average is $24.77 and its 200-day simple moving average is $26.49. The company has a current ratio of 1.40, a quick ratio of 1.38 and a debt-to-equity ratio of 0.16.

Coterra Energy (NYSE:CTRA) last announced its quarterly earnings results on Thursday, August 1st. The company reported $0.37 earnings per share for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.02). The company had revenue of $1.27 billion during the quarter, compared to analyst estimates of $1.32 billion. Coterra Energy had a return on equity of 10.48% and a net margin of 23.18%. Coterra Energy’s quarterly revenue was up 7.3% on a year-over-year basis. During the same period in the prior year, the firm earned $0.38 EPS. Sell-side analysts forecast that Coterra Energy Inc. will post 1.95 earnings per share for the current fiscal year.

Coterra Energy Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, August 29th. Shareholders of record on Thursday, August 15th were given a dividend of $0.21 per share. The ex-dividend date of this dividend was Thursday, August 15th. This represents a $0.84 dividend on an annualized basis and a yield of 3.69%. Coterra Energy’s payout ratio is currently 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.