Viking Fund Management LLC Sells 40,000 Shares of Coterra Energy Inc. $CTRA

Viking Fund Management LLC lessened its position in shares of Coterra Energy Inc. (NYSE:CTRA) by 36.4% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 70,000 shares of the company’s stock after selling 40,000 shares during the period. Viking Fund Management LLC’s holdings in Coterra Energy were worth $1,656,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. GAMMA Investing LLC increased its stake in shares of Coterra Energy by 2.1% during the third quarter. GAMMA Investing LLC now owns 22,763 shares of the company’s stock worth $538,000 after purchasing an additional 462 shares during the period. Wellington Shields Capital Management LLC grew its holdings in Coterra Energy by 5.4% in the 2nd quarter. Wellington Shields Capital Management LLC now owns 9,725 shares of the company’s stock valued at $247,000 after buying an additional 500 shares in the last quarter. Elevation Point Wealth Partners LLC increased its position in Coterra Energy by 1.1% during the 2nd quarter. Elevation Point Wealth Partners LLC now owns 50,333 shares of the company’s stock worth $1,277,000 after buying an additional 531 shares during the period. Fifth Third Wealth Advisors LLC increased its position in Coterra Energy by 5.3% during the 2nd quarter. Fifth Third Wealth Advisors LLC now owns 10,534 shares of the company’s stock worth $267,000 after buying an additional 533 shares during the period. Finally, MassMutual Private Wealth & Trust FSB lifted its holdings in shares of Coterra Energy by 26.1% during the second quarter. MassMutual Private Wealth & Trust FSB now owns 2,685 shares of the company’s stock worth $68,000 after buying an additional 555 shares in the last quarter. Institutional investors and hedge funds own 87.92% of the company’s stock.

Coterra Energy Stock Performance

Shares of Coterra Energy stock opened at $25.40 on Friday. The company has a current ratio of 1.02, a quick ratio of 0.98 and a debt-to-equity ratio of 0.25. The company has a market cap of $19.34 billion, a PE ratio of 11.71, a price-to-earnings-growth ratio of 0.43 and a beta of 0.33. The company has a 50 day moving average of $25.36 and a 200-day moving average of $24.80. Coterra Energy Inc. has a 1-year low of $22.33 and a 1-year high of $29.95.

Coterra Energy (NYSE:CTRA) last announced its quarterly earnings data on Monday, November 3rd. The company reported $0.41 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.02). Coterra Energy had a net margin of 23.25% and a return on equity of 11.23%. The firm had revenue of $1.82 billion during the quarter, compared to the consensus estimate of $1.83 billion. During the same period last year, the business earned $0.32 earnings per share. The business’s revenue was up 33.7% compared to the same quarter last year. As a group, equities research analysts forecast that Coterra Energy Inc. will post 1.54 earnings per share for the current fiscal year.

Coterra Energy Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, November 26th. Stockholders of record on Thursday, November 13th were issued a dividend of $0.22 per share. The ex-dividend date of this dividend was Thursday, November 13th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 3.5%. Coterra Energy’s payout ratio is 40.55%.

Analyst Ratings Changes

CTRA has been the topic of several research reports. William Blair assumed coverage on shares of Coterra Energy in a research report on Wednesday, November 26th. They set an “outperform” rating and a $36.00 price target on the stock. Mizuho decreased their target price on shares of Coterra Energy from $36.00 to $33.00 and set an “outperform” rating on the stock in a research report on Monday, September 15th. Barclays lowered their target price on shares of Coterra Energy from $37.00 to $35.00 and set an “overweight” rating on the stock in a report on Tuesday, October 7th. BMO Capital Markets cut their price target on Coterra Energy from $33.00 to $32.00 and set a “market perform” rating for the company in a research note on Monday, December 15th. Finally, Piper Sandler reduced their price target on Coterra Energy from $38.00 to $37.00 and set an “overweight” rating on the stock in a research report on Tuesday, November 18th. Seventeen analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $32.86.

Coterra Energy Company Profile

Coterra Energy (NYSE: CTRA) is an independent oil and natural gas exploration and production company focused on the development, production and optimization of onshore hydrocarbon resources in the United States. The company’s operations center on the exploration, drilling, completion and production of crude oil, natural gas and natural gas liquids (NGLs), with an emphasis on maximizing operational efficiency and capital discipline across its asset base.

Its business activities include identifying and developing resource-rich acreage, operating producing wells, managing reservoir performance and marketing produced hydrocarbons to a range of midstream and energy customers.