Coterra Energy Inc. (NYSE:CTRA) Stock Position Reduced by Easterly Investment Partners LLC

Easterly Investment Partners LLC reduced its position in shares of Coterra Energy Inc. (NYSE:CTRA) by 15.2% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 505,273 shares of the company’s stock after selling 90,573 shares during the period. Easterly Investment Partners LLC owned 0.07% of Coterra Energy worth $12,101,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of CTRA. BNP PARIBAS ASSET MANAGEMENT Holding S.A. acquired a new stake in shares of Coterra Energy during the 1st quarter worth about $656,000. Quadrature Capital Ltd raised its holdings in Coterra Energy by 112.2% during the 1st quarter. Quadrature Capital Ltd now owns 72,395 shares of the company’s stock worth $2,018,000 after buying an additional 38,278 shares during the period. CreativeOne Wealth LLC raised its holdings in Coterra Energy by 130.3% during the 1st quarter. CreativeOne Wealth LLC now owns 56,860 shares of the company’s stock worth $1,586,000 after buying an additional 32,173 shares during the period. Raymond James & Associates raised its holdings in Coterra Energy by 5.0% during the 2nd quarter. Raymond James & Associates now owns 1,187,663 shares of the company’s stock worth $31,675,000 after buying an additional 56,748 shares during the period. Finally, Disciplined Growth Investors Inc. MN raised its holdings in Coterra Energy by 1.0% during the 2nd quarter. Disciplined Growth Investors Inc. MN now owns 5,063,920 shares of the company’s stock worth $135,055,000 after buying an additional 51,249 shares during the period. 87.92% of the stock is owned by institutional investors.

Coterra Energy Price Performance

NYSE:CTRA traded up $0.10 during mid-day trading on Friday, reaching $24.51. The stock had a trading volume of 815,950 shares, compared to its average volume of 6,220,943. The firm has a 50 day moving average price of $23.76 and a two-hundred day moving average price of $25.60. The stock has a market capitalization of $18.05 billion, a P/E ratio of 14.70, a P/E/G ratio of 1.42 and a beta of 0.22. Coterra Energy Inc. has a one year low of $22.30 and a one year high of $28.90. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.38 and a current ratio of 1.61.

Coterra Energy (NYSE:CTRA) last announced its quarterly earnings data on Thursday, October 31st. The company reported $0.32 earnings per share for the quarter, missing the consensus estimate of $0.35 by ($0.03). Coterra Energy had a net margin of 21.91% and a return on equity of 9.38%. The company had revenue of $1.36 billion during the quarter, compared to the consensus estimate of $1.28 billion. During the same quarter in the previous year, the firm posted $0.47 EPS. The business’s revenue for the quarter was up .2% compared to the same quarter last year. As a group, analysts expect that Coterra Energy Inc. will post 1.62 earnings per share for the current year.

Coterra Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 27th. Stockholders of record on Thursday, November 14th will be issued a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 3.43%. The ex-dividend date is Thursday, November 14th. Coterra Energy’s payout ratio is currently 50.60%.

Analyst Ratings Changes

CTRA has been the topic of several research analyst reports. JPMorgan Chase & Co. dropped their target price on shares of Coterra Energy from $31.00 to $26.00 and set an “overweight” rating on the stock in a report on Thursday, September 12th. Roth Mkm upgraded shares of Coterra Energy from a “neutral” rating to a “buy” rating and raised their target price for the stock from $25.00 to $29.00 in a report on Tuesday, August 27th. Stephens lifted their price objective on shares of Coterra Energy from $28.00 to $29.00 and gave the company an “overweight” rating in a report on Friday, November 1st. UBS Group lowered their price objective on shares of Coterra Energy from $34.00 to $31.00 and set a “buy” rating on the stock in a report on Wednesday, September 18th. Finally, Piper Sandler reiterated an “overweight” rating and issued a $32.00 price objective (up from $31.00) on shares of Coterra Energy in a report on Monday. Two analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $31.29.

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.