Impact Partnership Wealth LLC Sells 21,026 Shares of Coterra Energy Inc. $CTRA

Impact Partnership Wealth LLC decreased its position in shares of Coterra Energy Inc. (NYSE:CTRA) by 56.9% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 15,955 shares of the company’s stock after selling 21,026 shares during the quarter. Impact Partnership Wealth LLC’s holdings in Coterra Energy were worth $377,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the company. QRG Capital Management Inc. raised its holdings in shares of Coterra Energy by 67.0% during the 3rd quarter. QRG Capital Management Inc. now owns 143,188 shares of the company’s stock valued at $3,386,000 after buying an additional 57,461 shares in the last quarter. State of Michigan Retirement System boosted its stake in Coterra Energy by 5.8% in the second quarter. State of Michigan Retirement System now owns 244,459 shares of the company’s stock worth $6,204,000 after buying an additional 13,500 shares in the last quarter. Mitsubishi UFJ Trust & Banking Corp grew its position in Coterra Energy by 36.2% during the third quarter. Mitsubishi UFJ Trust & Banking Corp now owns 830,392 shares of the company’s stock valued at $19,639,000 after acquiring an additional 220,688 shares during the last quarter. Resona Asset Management Co. Ltd. raised its stake in shares of Coterra Energy by 30.1% during the second quarter. Resona Asset Management Co. Ltd. now owns 294,598 shares of the company’s stock worth $7,486,000 after acquiring an additional 68,100 shares in the last quarter. Finally, Strs Ohio raised its stake in shares of Coterra Energy by 58.5% during the second quarter. Strs Ohio now owns 87,745 shares of the company’s stock worth $2,227,000 after acquiring an additional 32,376 shares in the last quarter. Hedge funds and other institutional investors own 87.92% of the company’s stock.

Coterra Energy Price Performance

CTRA stock opened at $28.84 on Friday. The stock has a market capitalization of $21.96 billion, a price-to-earnings ratio of 13.29, a PEG ratio of 0.66 and a beta of 0.36. The firm’s 50-day moving average price is $26.31 and its two-hundred day moving average price is $24.90. The company has a current ratio of 1.02, a quick ratio of 0.98 and a debt-to-equity ratio of 0.25. Coterra Energy Inc. has a 12-month low of $22.33 and a 12-month high of $29.82.

Coterra Energy (NYSE:CTRA) last posted its earnings results on Monday, November 3rd. The company reported $0.41 earnings per share for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.02). Coterra Energy had a return on equity of 11.23% and a net margin of 23.25%.The firm had revenue of $1.82 billion for the quarter, compared to analysts’ expectations of $1.83 billion. During the same quarter in the prior year, the company posted $0.32 earnings per share. The business’s revenue for the quarter was up 33.7% on a year-over-year basis. As a group, equities analysts predict that Coterra Energy Inc. will post 1.54 earnings per share for the current year.

Coterra Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, November 26th. Shareholders of record on Thursday, November 13th were issued a $0.22 dividend. The ex-dividend date was Thursday, November 13th. This represents a $0.88 annualized dividend and a yield of 3.1%. Coterra Energy’s dividend payout ratio (DPR) is 40.55%.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on CTRA. Mizuho upped their price objective on shares of Coterra Energy from $33.00 to $36.00 and gave the company an “outperform” rating in a research note on Thursday, January 15th. William Blair began coverage on shares of Coterra Energy in a research note on Wednesday, November 26th. They issued an “outperform” rating and a $36.00 price target for the company. BMO Capital Markets cut their price target on shares of Coterra Energy from $33.00 to $32.00 and set a “market perform” rating for the company in a research report on Monday, December 15th. Johnson Rice reduced their price objective on Coterra Energy from $38.00 to $37.00 in a research note on Friday, December 5th. Finally, Susquehanna boosted their target price on Coterra Energy from $31.00 to $32.00 and gave the company a “positive” rating in a research note on Monday. Sixteen research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, Coterra Energy currently has an average rating of “Moderate Buy” and a consensus target price of $32.81.

Coterra Energy 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.