Aristotle Capital Management LLC Decreases Stake in Coterra Energy Inc. $CTRA

Aristotle Capital Management LLC reduced its position in Coterra Energy Inc. (NYSE:CTRA) by 4.6% during the third quarter, HoldingsChannel reports. The fund owned 31,056,798 shares of the company’s stock after selling 1,508,370 shares during the quarter. Aristotle Capital Management LLC’s holdings in Coterra Energy were worth $734,495,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in CTRA. Winnow Wealth LLC purchased a new position in shares of Coterra Energy in the third quarter worth about $29,000. Atlantic Union Bankshares Corp bought a new stake in shares of Coterra Energy in the third quarter valued at approximately $29,000. Bogart Wealth LLC lifted its stake in shares of Coterra Energy by 97.8% during the 3rd quarter. Bogart Wealth LLC now owns 2,022 shares of the company’s stock valued at $48,000 after buying an additional 1,000 shares in the last quarter. CYBER HORNET ETFs LLC bought a new position in Coterra Energy in the 2nd quarter worth approximately $50,000. Finally, Steigerwald Gordon & Koch Inc. bought a new position in Coterra Energy in the 3rd quarter worth approximately $50,000. Institutional investors own 87.92% of the company’s stock.

Coterra Energy Stock Up 0.6%

CTRA stock opened at $32.18 on Friday. The company has a current ratio of 1.19, a quick ratio of 1.16 and a debt-to-equity ratio of 0.24. The company’s 50 day moving average is $29.01 and its 200 day moving average is $26.36. The stock has a market cap of $24.43 billion, a price-to-earnings ratio of 14.11, a price-to-earnings-growth ratio of 0.80 and a beta of 0.38. Coterra Energy Inc. has a 1-year low of $22.33 and a 1-year high of $32.67.

Coterra Energy Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, March 25th. Stockholders of record on Wednesday, March 11th will be issued a $0.22 dividend. The ex-dividend date of this dividend is Wednesday, March 11th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 2.7%. Coterra Energy’s dividend payout ratio is presently 38.60%.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on CTRA. Texas Capital cut shares of Coterra Energy from a “strong-buy” rating to a “hold” rating in a report on Monday, March 9th. Raymond James Financial raised their price target on Coterra Energy from $34.00 to $41.00 in a report on Monday, March 9th. Scotiabank reiterated a “sector perform” rating and issued a $31.00 price target on shares of Coterra Energy in a research report on Tuesday, February 3rd. Siebert Williams Shank lowered Coterra Energy from a “buy” rating to a “hold” rating in a research note on Friday, March 6th. Finally, Susquehanna increased their price objective on Coterra Energy from $32.00 to $34.00 and gave the stock a “positive” rating in a report on Tuesday, February 3rd. Fourteen equities research analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $34.29.

About Coterra Energy

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.