Symmetry Partners LLC Cuts Stock Holdings in Coterra Energy Inc. (NYSE:CTRA)

Symmetry Partners LLC reduced its position in Coterra Energy Inc. (NYSE:CTRA) by 5.9% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 14,048 shares of the company’s stock after selling 887 shares during the quarter. Symmetry Partners LLC’s holdings in Coterra Energy were worth $375,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently added to or reduced their stakes in the company. Fortitude Family Office LLC increased its stake in shares of Coterra Energy by 154.9% during the second quarter. Fortitude Family Office LLC now owns 933 shares of the company’s stock worth $25,000 after purchasing an additional 567 shares in the last quarter. Tennessee Valley Asset Management Partners acquired a new position in shares of Coterra Energy during the fourth quarter valued at approximately $33,000. Wetzel Investment Advisors Inc. purchased a new position in shares of Coterra Energy in the fourth quarter valued at approximately $33,000. Central Pacific Bank Trust Division acquired a new stake in shares of Coterra Energy in the first quarter worth approximately $44,000. Finally, Harbor Investment Advisory LLC lifted its holdings in Coterra Energy by 869.3% in the 1st quarter. Harbor Investment Advisory LLC now owns 1,609 shares of the company’s stock valued at $45,000 after purchasing an additional 1,443 shares in the last quarter. 87.92% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the stock. Mizuho increased their target price on shares of Coterra Energy from $37.00 to $41.00 and gave the company a “buy” rating in a research report on Monday, May 13th. BMO Capital Markets upgraded Coterra Energy to a “hold” rating in a report on Wednesday, July 3rd. Wolfe Research started coverage on Coterra Energy in a report on Thursday, July 18th. They issued an “outperform” rating and a $35.00 price target for the company. Citigroup boosted their price objective on Coterra Energy from $30.00 to $31.00 and gave the stock a “buy” rating in a research note on Friday, May 24th. Finally, UBS Group cut their target price on Coterra Energy from $36.00 to $34.00 and set a “buy” rating for the company in a research note on Thursday. Two equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $34.06.

Coterra Energy Trading Up 0.5 %

NYSE CTRA traded up $0.11 on Friday, reaching $24.10. The stock had a trading volume of 6,221,094 shares, compared to its average volume of 6,470,637. Coterra Energy Inc. has a 12-month low of $23.18 and a 12-month high of $29.89. The stock has a fifty day moving average price of $26.56 and a two-hundred day moving average price of $26.68. The firm has a market capitalization of $17.94 billion, a price-to-earnings ratio of 13.93, a P/E/G ratio of 1.49 and a beta of 0.24. 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 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.39 by ($0.02). The firm had revenue of $1.27 billion during the quarter, compared to analysts’ expectations of $1.32 billion. Coterra Energy had a net margin of 23.18% and a return on equity of 10.49%. Coterra Energy’s quarterly revenue was up 7.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.38 EPS. As a group, sell-side analysts forecast that Coterra Energy Inc. will post 2.02 EPS for the current fiscal year.

Coterra Energy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, August 29th. Stockholders of record on Thursday, August 15th will be paid a $0.21 dividend. This represents a $0.84 annualized dividend and a dividend yield of 3.49%. The ex-dividend date is Thursday, August 15th. Coterra Energy’s payout ratio is 48.55%.

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.