Vest Financial LLC Sells 33,873 Shares of Coterra Energy Inc. $CTRA

Vest Financial LLC cut its holdings in shares of Coterra Energy Inc. (NYSE:CTRA) by 40.5% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 49,759 shares of the company’s stock after selling 33,873 shares during the quarter. Vest Financial LLC’s holdings in Coterra Energy were worth $1,177,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in the business. Davis Selected Advisers bought a new position in Coterra Energy during the second quarter worth $237,002,000. Vanguard Group Inc. lifted its stake in shares of Coterra Energy by 3.1% during the 2nd quarter. Vanguard Group Inc. now owns 95,209,961 shares of the company’s stock worth $2,416,429,000 after buying an additional 2,872,288 shares during the last quarter. Truist Financial Corp boosted its holdings in shares of Coterra Energy by 165.3% during the 2nd quarter. Truist Financial Corp now owns 4,213,315 shares of the company’s stock worth $106,934,000 after buying an additional 2,625,126 shares during the period. Charles Schwab Investment Management Inc. grew its stake in Coterra Energy by 5.9% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 26,800,493 shares of the company’s stock valued at $680,197,000 after buying an additional 1,495,553 shares during the last quarter. Finally, Adage Capital Partners GP L.L.C. acquired a new position in Coterra Energy in the 2nd quarter valued at about $29,149,000. Institutional investors and hedge funds own 87.92% of the company’s stock.

Coterra Energy Trading Up 0.6%

CTRA opened at $27.44 on Friday. The stock has a market capitalization of $20.89 billion, a price-to-earnings ratio of 12.64, a P/E/G ratio of 0.60 and a beta of 0.36. The company has a quick ratio of 0.98, a current ratio of 1.02 and a debt-to-equity ratio of 0.25. Coterra Energy Inc. has a twelve month low of $22.33 and a twelve month high of $29.82. The company has a 50-day simple moving average of $26.10 and a 200 day simple moving average of $24.81.

Coterra Energy (NYSE:CTRA) last issued its earnings results on Monday, November 3rd. The company reported $0.41 EPS for the quarter, missing the consensus estimate of $0.43 by ($0.02). The firm had revenue of $1.82 billion during the quarter, compared to analyst estimates of $1.83 billion. Coterra Energy had a net margin of 23.25% and a return on equity of 11.23%. Coterra Energy’s quarterly revenue was up 33.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.32 earnings per share. Analysts predict that Coterra Energy Inc. will post 1.54 EPS for the current fiscal year.

Coterra Energy Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, November 26th. Shareholders of record on Thursday, November 13th were paid a dividend of $0.22 per share. The ex-dividend date was Thursday, November 13th. This represents a $0.88 annualized dividend and a yield of 3.2%. Coterra Energy’s dividend payout ratio is presently 40.55%.

Analysts Set New Price Targets

CTRA has been the topic of a number of recent research reports. UBS Group increased their target price on Coterra Energy from $32.00 to $33.00 and gave the stock a “buy” rating in a research note on Friday, December 12th. Mizuho boosted their target price on shares of Coterra Energy from $33.00 to $36.00 and gave the company an “outperform” rating in a research report on Thursday, January 15th. The Goldman Sachs Group lowered their price target on shares of Coterra Energy from $30.00 to $29.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 15th. William Blair started coverage on shares of Coterra Energy in a research note on Wednesday, November 26th. They issued an “outperform” rating and a $36.00 price objective for the company. Finally, Wolfe Research decreased their target price on shares of Coterra Energy from $36.00 to $35.00 and set an “outperform” rating on the stock in a research report on Tuesday, November 4th. Sixteen research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $32.57.

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.