Mraz Amerine & Associates Inc. Sells 1,322 Shares of Coterra Energy Inc. $CTRA

Mraz Amerine & Associates Inc. lowered its holdings in shares of Coterra Energy Inc. (NYSE:CTRA) by 1.2% during the second quarter, Holdings Channel reports. The institutional investor owned 106,182 shares of the company’s stock after selling 1,322 shares during the quarter. Mraz Amerine & Associates Inc.’s holdings in Coterra Energy were worth $2,695,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently made changes to their positions in CTRA. Merit Financial Group LLC boosted its position in shares of Coterra Energy by 78.4% during the 1st quarter. Merit Financial Group LLC now owns 17,936 shares of the company’s stock valued at $518,000 after acquiring an additional 7,881 shares in the last quarter. Procyon Advisors LLC boosted its holdings in Coterra Energy by 3.6% during the first quarter. Procyon Advisors LLC now owns 13,460 shares of the company’s stock valued at $389,000 after purchasing an additional 469 shares in the last quarter. UMB Bank n.a. boosted its holdings in Coterra Energy by 22.0% during the first quarter. UMB Bank n.a. now owns 5,312 shares of the company’s stock valued at $154,000 after purchasing an additional 958 shares in the last quarter. Wedmont Private Capital grew its stake in shares of Coterra Energy by 15.3% in the 1st quarter. Wedmont Private Capital now owns 12,072 shares of the company’s stock valued at $349,000 after purchasing an additional 1,601 shares during the period. Finally, Capital Investment Advisors LLC raised its holdings in shares of Coterra Energy by 2.2% in the 1st quarter. Capital Investment Advisors LLC now owns 30,323 shares of the company’s stock worth $876,000 after buying an additional 650 shares in the last quarter. Institutional investors and hedge funds own 87.92% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently commented on CTRA shares. Raymond James Financial reaffirmed an “outperform” rating and issued a $34.00 price target (down previously from $38.00) on shares of Coterra Energy in a research note on Thursday, September 11th. Mizuho lowered their target price on shares of Coterra Energy from $36.00 to $33.00 and set an “outperform” rating on the stock in a report on Monday, September 15th. Piper Sandler increased their target price on shares of Coterra Energy from $37.00 to $39.00 and gave the stock an “overweight” rating in a research report on Thursday, August 14th. Scotiabank restated an “outperform” rating on shares of Coterra Energy in a research report on Friday, July 11th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Coterra Energy in a report on Saturday, September 27th. Fourteen equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $33.22.

Coterra Energy Stock Up 2.4%

Shares of NYSE:CTRA opened at $23.85 on Tuesday. The company has a quick ratio of 1.08, a current ratio of 1.13 and a debt-to-equity ratio of 0.29. The firm has a market cap of $18.20 billion, a P/E ratio of 11.41, a P/E/G ratio of 0.33 and a beta of 0.29. Coterra Energy Inc. has a 12 month low of $22.46 and a 12 month high of $29.95. The company’s 50-day moving average price is $23.93 and its two-hundred day moving average price is $24.90.

Coterra Energy (NYSE:CTRA) last announced its earnings results on Monday, August 4th. The company reported $0.48 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.50 by ($0.02). Coterra Energy had a return on equity of 10.99% and a net margin of 23.80%.The company had revenue of $1.97 billion for the quarter, compared to analyst estimates of $1.78 billion. During the same quarter in the previous year, the company posted $0.37 earnings per share. Coterra Energy’s revenue for the quarter was up 54.6% on a year-over-year basis. As a group, research analysts forecast that Coterra Energy Inc. will post 1.54 EPS for the current fiscal year.

Coterra Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 28th. Shareholders of record on Thursday, August 14th were given a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a yield of 3.7%. The ex-dividend date was Thursday, August 14th. Coterra Energy’s dividend payout ratio (DPR) is presently 42.11%.

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.