Wealthfront Advisers LLC Reduces Stake in Coterra Energy Inc. $CTRA

Wealthfront Advisers LLC reduced its stake in shares of Coterra Energy Inc. (NYSE:CTRA) by 11.3% during the 2nd quarter, HoldingsChannel reports. The fund owned 210,212 shares of the company’s stock after selling 26,717 shares during the period. Wealthfront Advisers LLC’s holdings in Coterra Energy were worth $5,335,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Allspring Global Investments Holdings LLC increased its position in shares of Coterra Energy by 7.6% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 123,054 shares of the company’s stock valued at $3,577,000 after purchasing an additional 8,726 shares during the last quarter. Truist Financial Corp raised its holdings in shares of Coterra Energy by 165.3% in the second quarter. Truist Financial Corp now owns 4,213,315 shares of the company’s stock worth $106,934,000 after buying an additional 2,625,126 shares during the period. Vontobel Holding Ltd. bought a new stake in shares of Coterra Energy during the 1st quarter worth approximately $233,000. Mirae Asset Global Investments Co. Ltd. boosted its holdings in Coterra Energy by 15.4% during the 2nd quarter. Mirae Asset Global Investments Co. Ltd. now owns 785,835 shares of the company’s stock valued at $19,944,000 after acquiring an additional 104,999 shares during the period. Finally, Nordea Investment Management AB grew its position in Coterra Energy by 43.2% in the 2nd quarter. Nordea Investment Management AB now owns 57,542 shares of the company’s stock valued at $1,468,000 after acquiring an additional 17,373 shares during the last quarter. 87.92% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several analysts have recently weighed in on the company. Roth Capital decreased their target price on Coterra Energy from $27.00 to $26.00 and set a “buy” rating for the company in a research report on Wednesday, October 15th. Stephens dropped their price objective on Coterra Energy from $34.00 to $33.00 and set an “overweight” rating on the stock in a research note on Tuesday, October 21st. The Goldman Sachs Group decreased their target price on Coterra Energy from $30.00 to $29.00 and set a “neutral” rating for the company in a research report on Wednesday, October 15th. Wells Fargo & Company upped their target price on Coterra Energy from $32.00 to $33.00 and gave the stock an “overweight” rating in a report on Thursday, August 14th. Finally, UBS Group cut their price target on Coterra Energy from $30.00 to $29.00 and set a “buy” rating on the stock in a research note on Tuesday, October 14th. Sixteen research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Coterra Energy presently has an average rating of “Moderate Buy” and a consensus target price of $32.60.

Coterra Energy Stock Down 1.1%

Coterra Energy stock opened at $23.40 on Wednesday. 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 $17.86 billion, a P/E ratio of 11.20, a P/E/G ratio of 0.36 and a beta of 0.29. The business has a fifty day moving average of $23.76 and a two-hundred day moving average of $24.48. Coterra Energy Inc. has a twelve month low of $22.33 and a twelve month high of $29.95.

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

Coterra Energy Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, August 28th. Shareholders of record on Thursday, August 14th were issued a $0.22 dividend. The ex-dividend date was Thursday, August 14th. This represents a $0.88 dividend on an annualized basis and a yield of 3.8%. Coterra Energy’s payout ratio is currently 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.