Coterra Energy Inc. (NYSE:CTRA) Shares Sold by Ferguson Wellman Capital Management Inc.

Ferguson Wellman Capital Management Inc. cut its stake in Coterra Energy Inc. (NYSE:CTRA) by 57.2% during the 2nd quarter, HoldingsChannel reports. The fund owned 15,913 shares of the company’s stock after selling 21,279 shares during the period. Ferguson Wellman Capital Management Inc.’s holdings in Coterra Energy were worth $424,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of CTRA. Fortitude Family Office LLC grew its position 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 acquiring an additional 567 shares during the last quarter. Wetzel Investment Advisors Inc. bought a new position in shares of Coterra Energy during the fourth quarter worth about $33,000. Tennessee Valley Asset Management Partners bought a new position in shares of Coterra Energy during the fourth quarter worth about $33,000. Headlands Technologies LLC grew its position in shares of Coterra Energy by 397.7% during the fourth quarter. Headlands Technologies LLC now owns 1,742 shares of the company’s stock worth $44,000 after acquiring an additional 1,392 shares during the last quarter. Finally, Central Pacific Bank Trust Division bought a new position in shares of Coterra Energy during the first quarter worth about $44,000. 87.92% of the stock is owned by institutional investors and hedge funds.

Coterra Energy Stock Up 0.3 %

NYSE:CTRA traded up $0.06 during mid-day trading on Wednesday, reaching $24.00. The stock had a trading volume of 3,023,639 shares, compared to its average volume of 6,449,693. The business’s 50 day moving average is $26.33 and its 200 day moving average is $26.69. Coterra Energy Inc. has a fifty-two week low of $23.18 and a fifty-two week high of $29.89. The stock has a market cap of $17.86 billion, a P/E ratio of 13.82, a PEG ratio of 1.49 and a beta of 0.24. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.49 and a quick ratio of 1.46.

Coterra Energy (NYSE:CTRA) last announced its quarterly earnings results 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 for the quarter, compared to analyst estimates 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 for the quarter was up 7.3% on a year-over-year basis. During the same quarter last year, the business earned $0.38 EPS. As a group, sell-side analysts predict that Coterra Energy Inc. will post 2.02 earnings per share for the current year.

Coterra Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 29th. Shareholders of record on Thursday, August 15th will be issued a dividend of $0.21 per share. The ex-dividend date of this dividend is Thursday, August 15th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 3.50%. Coterra Energy’s payout ratio is presently 48.55%.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on CTRA. Wolfe Research began coverage on shares of Coterra Energy in a research report on Thursday, July 18th. They issued an “outperform” rating and a $35.00 target price for the company. BMO Capital Markets upgraded shares of Coterra Energy to a “hold” rating in a research report on Wednesday, July 3rd. Susquehanna increased their target price on shares of Coterra Energy from $32.00 to $33.00 and gave the company a “positive” rating in a research report on Tuesday, May 7th. Citigroup increased their target price on shares of Coterra Energy from $30.00 to $31.00 and gave the company a “buy” rating in a research report on Friday, May 24th. Finally, 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. Two equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $34.06.

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.