Los Angeles Capital Management LLC Reduces Position in Coterra Energy Inc. (NYSE:CTRA)

Los Angeles Capital Management LLC trimmed its stake in Coterra Energy Inc. (NYSE:CTRA) by 35.1% in the 3rd quarter, HoldingsChannel reports. The firm owned 153,820 shares of the company’s stock after selling 83,171 shares during the period. Los Angeles Capital Management LLC’s holdings in Coterra Energy were worth $3,684,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently bought and sold shares of CTRA. King Luther Capital Management Corp lifted its holdings in Coterra Energy by 4.4% during the second quarter. King Luther Capital Management Corp now owns 6,783,690 shares of the company’s stock valued at $180,921,000 after purchasing an additional 285,774 shares in the last quarter. Disciplined Growth Investors Inc. MN lifted its stake in shares of 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 valued at $135,055,000 after buying an additional 51,249 shares in the last quarter. American Century Companies Inc. boosted its holdings in Coterra Energy by 29.1% in the 2nd quarter. American Century Companies Inc. now owns 4,498,227 shares of the company’s stock worth $119,968,000 after buying an additional 1,013,107 shares during the period. Equity Investment Corp increased its stake in Coterra Energy by 0.7% in the 2nd quarter. Equity Investment Corp now owns 3,227,678 shares of the company’s stock worth $86,082,000 after buying an additional 22,017 shares in the last quarter. Finally, Captrust Financial Advisors raised its holdings in Coterra Energy by 4.6% during the first quarter. Captrust Financial Advisors now owns 2,952,024 shares of the company’s stock valued at $78,422,000 after acquiring an additional 128,720 shares during the period. 87.92% of the stock is owned by institutional investors.

Coterra Energy Stock Down 0.7 %

Shares of NYSE:CTRA opened at $25.22 on Wednesday. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.61 and a quick ratio of 1.38. The business has a 50 day simple moving average of $23.82 and a two-hundred day simple moving average of $25.49. Coterra Energy Inc. has a 1 year low of $22.30 and a 1 year high of $28.90. The firm has a market capitalization of $18.58 billion, a PE ratio of 15.19, a price-to-earnings-growth ratio of 1.59 and a beta of 0.22.

Coterra Energy (NYSE:CTRA) last posted 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 return on equity of 9.38% and a net margin of 21.91%. 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 company posted $0.47 earnings per share. The company’s revenue for the quarter was up .2% on a year-over-year basis. On average, equities analysts predict that Coterra Energy Inc. will post 1.54 EPS for the current year.

Coterra Energy Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 27th. Stockholders of record on Thursday, November 14th will be paid a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a dividend yield of 3.33%. The ex-dividend date is Thursday, November 14th. Coterra Energy’s dividend payout ratio is presently 50.60%.

Analyst Ratings Changes

Several research firms recently issued reports on CTRA. Mizuho increased their target price on Coterra Energy from $36.00 to $37.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. UBS Group cut their price objective on Coterra Energy from $34.00 to $31.00 and set a “buy” rating for the company in a research report on Wednesday, September 18th. Piper Sandler reissued an “overweight” rating and set a $32.00 price target (up from $31.00) on shares of Coterra Energy in a research note on Monday, November 4th. Roth Mkm raised Coterra Energy from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $25.00 to $29.00 in a report on Tuesday, August 27th. Finally, Truist Financial cut their target price on shares of Coterra Energy from $34.00 to $31.00 and set a “buy” rating for the company in a report on Monday, September 30th. 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 company’s stock. According to data from MarketBeat, Coterra Energy presently has a consensus rating of “Moderate Buy” and an average price target of $31.29.

Coterra Energy 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.