Meridian Investment Counsel Inc. Has $419,000 Holdings in Coterra Energy Inc. (NYSE:CTRA)

Meridian Investment Counsel Inc. decreased its stake in shares of Coterra Energy Inc. (NYSE:CTRA) by 5.7% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 17,515 shares of the company’s stock after selling 1,053 shares during the quarter. Meridian Investment Counsel Inc.’s holdings in Coterra Energy were worth $419,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently modified their holdings of CTRA. Fortitude Family Office LLC boosted its stake in 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 in the last quarter. Larson Financial Group LLC raised its holdings in shares of Coterra Energy by 98.0% during the second quarter. Larson Financial Group LLC now owns 1,081 shares of the company’s stock valued at $29,000 after purchasing an additional 535 shares during the period. Values First Advisors Inc. bought a new position in shares of Coterra Energy during the 3rd quarter worth about $57,000. Tobam acquired a new stake in shares of Coterra Energy in the 3rd quarter valued at about $63,000. Finally, EverSource Wealth Advisors LLC increased its position in Coterra Energy by 31.0% in the 1st quarter. EverSource Wealth Advisors LLC now owns 2,351 shares of the company’s stock valued at $64,000 after buying an additional 557 shares in the last quarter. Institutional investors own 87.92% of the company’s stock.

Wall Street Analyst Weigh In

CTRA has been the topic of several recent research reports. Scotiabank cut their price target on Coterra Energy from $35.00 to $32.00 and set a “sector outperform” rating on the stock in a report on Thursday, October 10th. Susquehanna increased their target price on Coterra Energy from $30.00 to $33.00 and gave the stock a “positive” rating in a report on Thursday. Mizuho boosted their price target on shares of Coterra Energy from $36.00 to $37.00 and gave the company an “outperform” rating in a research note on Friday, November 1st. Roth Capital raised shares of Coterra Energy from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, August 27th. Finally, Truist Financial boosted their target price on shares of Coterra Energy from $31.00 to $33.00 and gave the stock a “buy” rating in a research report on Thursday. Two equities research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $32.41.

Coterra Energy Price Performance

Shares of NYSE CTRA opened at $25.55 on Friday. The company has a current ratio of 1.61, a quick ratio of 1.56 and a debt-to-equity ratio of 0.16. The stock has a fifty day simple moving average of $23.95 and a two-hundred day simple moving average of $25.48. Coterra Energy Inc. has a 1-year low of $22.30 and a 1-year high of $28.90. The firm has a market cap of $18.82 billion, a price-to-earnings ratio of 15.39, a price-to-earnings-growth ratio of 1.67 and a beta of 0.22.

Coterra Energy (NYSE:CTRA) last issued its quarterly earnings results on Thursday, October 31st. The company reported $0.32 EPS for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.03). Coterra Energy had a net margin of 21.91% and a return on equity of 9.38%. The firm had revenue of $1.36 billion for the quarter, compared to analysts’ expectations of $1.28 billion. During the same period in the prior year, the company earned $0.47 EPS. The firm’s quarterly revenue was up .2% on a year-over-year basis. Analysts anticipate that Coterra Energy Inc. will post 1.53 earnings per share for the current year.

Coterra Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 27th. Investors of record on Thursday, November 14th will be issued a $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 3.29%. The ex-dividend date of this dividend is Thursday, November 14th. Coterra Energy’s dividend payout ratio (DPR) is presently 50.60%.

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.