Coterra Energy Inc. (NYSE:CTRA) Shares Sold by Simmons Bank

Simmons Bank decreased its holdings in Coterra Energy Inc. (NYSE:CTRA) by 2.9% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 104,147 shares of the company’s stock after selling 3,157 shares during the period. Simmons Bank’s holdings in Coterra Energy were worth $2,494,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also modified their holdings of the company. Envestnet Portfolio Solutions Inc. lifted its position in shares of Coterra Energy by 20.9% during the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 30,928 shares of the company’s stock worth $862,000 after purchasing an additional 5,353 shares during the last quarter. Avantax Advisory Services Inc. lifted its position in shares of Coterra Energy by 8.4% during the 1st quarter. Avantax Advisory Services Inc. now owns 78,682 shares of the company’s stock worth $2,194,000 after purchasing an additional 6,105 shares during the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. purchased a new stake in shares of Coterra Energy during the 1st quarter worth $656,000. State Board of Administration of Florida Retirement System lifted its position in shares of Coterra Energy by 4.4% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 916,106 shares of the company’s stock worth $25,541,000 after purchasing an additional 38,971 shares during the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. lifted its position in Coterra Energy by 14.5% in the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 915,043 shares of the company’s stock valued at $25,511,000 after acquiring an additional 116,144 shares during the last quarter. Institutional investors and hedge funds own 87.92% of the company’s stock.

Coterra Energy Trading Up 1.6 %

Shares of Coterra Energy stock opened at $25.61 on Thursday. Coterra Energy Inc. has a 52-week low of $22.30 and a 52-week high of $28.90. The company has a quick ratio of 1.56, a current ratio of 1.61 and a debt-to-equity ratio of 0.16. The company’s 50-day simple moving average is $23.86 and its 200-day simple moving average is $25.50. The firm has a market cap of $18.86 billion, a price-to-earnings ratio of 15.43, a price-to-earnings-growth ratio of 1.64 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 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.03). Coterra Energy had a return on equity of 9.38% and a net margin of 21.91%. The firm had revenue of $1.36 billion for the quarter, compared to analyst estimates of $1.28 billion. During the same quarter last year, the firm earned $0.47 earnings per share. The company’s revenue was up .2% compared to the same quarter last year. As a group, equities research analysts anticipate that Coterra Energy Inc. will post 1.53 earnings per share for the current year.

Coterra Energy Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 27th. Shareholders of record on Thursday, November 14th will be given a dividend of $0.21 per share. The ex-dividend date is Thursday, November 14th. This represents a $0.84 annualized dividend and a yield of 3.28%. Coterra Energy’s payout ratio is currently 50.60%.

Analyst Upgrades and Downgrades

CTRA has been the subject of a number of research reports. Roth Mkm raised shares of Coterra Energy from a “neutral” rating to a “buy” rating and boosted their price target for the company from $25.00 to $29.00 in a research report on Tuesday, August 27th. UBS Group reduced their price target on shares of Coterra Energy from $34.00 to $31.00 and set a “buy” rating for the company in a research report on Wednesday, September 18th. Barclays reduced their price target on shares of Coterra Energy from $33.00 to $31.00 and set an “overweight” rating for the company in a research report on Thursday, October 3rd. Morgan Stanley reduced their price target on shares of Coterra Energy from $29.00 to $27.00 and set an “equal weight” rating for the company in a research report on Monday, September 16th. Finally, Wells Fargo & Company reduced their price target on shares of Coterra Energy from $34.00 to $32.00 and set an “overweight” rating for the company in a research report on Tuesday, October 1st. Two research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Coterra Energy currently has a consensus rating of “Moderate Buy” and an average price target of $31.29.

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.