Pekin Hardy Strauss Inc. Trims Holdings in Coterra Energy Inc. (NYSE:CTRA)

Pekin Hardy Strauss Inc. decreased its holdings in Coterra Energy Inc. (NYSE:CTRA) by 1.9% during the second quarter, HoldingsChannel.com reports. The firm owned 51,920 shares of the company’s stock after selling 1,000 shares during the quarter. Pekin Hardy Strauss Inc.’s holdings in Coterra Energy were worth $1,385,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Envestnet Asset Management Inc. grew its position in shares of Coterra Energy by 7.4% during the 2nd quarter. Envestnet Asset Management Inc. now owns 2,331,045 shares of the company’s stock worth $62,169,000 after buying an additional 161,463 shares in the last quarter. Thoroughbred Financial Services LLC bought a new position in shares of Coterra Energy during the 2nd quarter worth $351,000. Meeder Advisory Services Inc. bought a new position in shares of Coterra Energy during the 2nd quarter worth $252,000. DekaBank Deutsche Girozentrale grew its position in shares of Coterra Energy by 36.5% during the 2nd quarter. DekaBank Deutsche Girozentrale now owns 250,833 shares of the company’s stock worth $6,706,000 after buying an additional 67,045 shares in the last quarter. Finally, Equity Investment Corp grew its position in shares of Coterra Energy by 0.7% during the 2nd quarter. Equity Investment Corp now owns 3,227,678 shares of the company’s stock worth $86,082,000 after buying an additional 22,017 shares in the last quarter. Hedge funds and other institutional investors own 87.92% of the company’s stock.

Coterra Energy Trading Up 0.6 %

Shares of NYSE:CTRA opened at $22.92 on Tuesday. Coterra Energy Inc. has a 12-month low of $22.30 and a 12-month high of $29.89. The company has a market capitalization of $17.06 billion, a PE ratio of 13.25, a PEG ratio of 1.16 and a beta of 0.22. The business has a 50 day moving average of $24.70 and a two-hundred day moving average of $26.48. 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 (EPS) for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.02). Coterra Energy had a net margin of 23.18% and a return on equity of 10.48%. The company had revenue of $1.27 billion during the quarter, compared to analyst estimates of $1.32 billion. During the same period in the previous year, the firm posted $0.38 earnings per share. The company’s revenue was up 7.3% compared to the same quarter last year. As a group, analysts forecast that Coterra Energy Inc. will post 1.95 EPS for the current year.

Coterra Energy Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 29th. Stockholders of record on Thursday, August 15th were paid a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a dividend yield of 3.66%. The ex-dividend date of this dividend was Thursday, August 15th. Coterra Energy’s payout ratio is 48.55%.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the company. Piper Sandler dropped their price target on Coterra Energy from $39.00 to $31.00 and set an “overweight” rating on the stock in a research report on Thursday, August 15th. Wolfe Research initiated coverage on Coterra Energy in a research report on Thursday, July 18th. They set an “outperform” rating and a $35.00 price target on the stock. UBS Group dropped their price objective on Coterra Energy from $36.00 to $34.00 and set a “buy” rating on the stock in a research report on Thursday, August 8th. JPMorgan Chase & Co. cut their target price on Coterra Energy from $31.00 to $26.00 and set an “overweight” rating on the stock in a research note on Thursday, September 12th. Finally, Bank of America reiterated a “buy” rating and issued a $34.00 target price on shares of Coterra Energy in a research note on Friday, June 14th. Two 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 company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $32.76.

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.