Oppenheimer & Co. Inc. Sells 590 Shares of Coterra Energy Inc. (NYSE:CTRA)

Oppenheimer & Co. Inc. decreased its position in Coterra Energy Inc. (NYSE:CTRA) by 1.1% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 50,749 shares of the company’s stock after selling 590 shares during the quarter. Oppenheimer & Co. Inc.’s holdings in Coterra Energy were worth $1,215,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of CTRA. Bank of Montreal Can raised its stake in shares of Coterra Energy by 160.1% in the 2nd quarter. Bank of Montreal Can now owns 2,898,876 shares of the company’s stock valued at $80,154,000 after purchasing an additional 1,784,192 shares during the period. Marshall Wace LLP increased its position in shares of Coterra Energy by 5,325.5% in the second quarter. Marshall Wace LLP now owns 1,148,569 shares of the company’s stock valued at $30,632,000 after acquiring an additional 1,127,399 shares during the last quarter. Clearbridge Investments LLC acquired a new stake in shares of Coterra Energy in the first quarter valued at about $28,967,000. American Century Companies Inc. increased its position in shares of Coterra Energy by 29.1% in the second quarter. American Century Companies Inc. now owns 4,498,227 shares of the company’s stock valued at $119,968,000 after acquiring an additional 1,013,107 shares during the last quarter. Finally, Earnest Partners LLC increased its position in shares of Coterra Energy by 37.5% in the first quarter. Earnest Partners LLC now owns 1,918,569 shares of the company’s stock valued at $53,490,000 after acquiring an additional 523,480 shares during the last quarter. Institutional investors and hedge funds own 87.92% of the company’s stock.

Coterra Energy Trading Up 2.1 %

Shares of NYSE:CTRA opened at $26.12 on Tuesday. Coterra Energy Inc. has a 12-month low of $22.30 and a 12-month high of $28.90. The stock has a market cap of $19.24 billion, a PE ratio of 15.77, a P/E/G ratio of 1.67 and a beta of 0.22. The business has a 50 day moving average of $23.95 and a 200-day moving average of $25.45. The company has a quick ratio of 1.56, a current ratio of 1.61 and a debt-to-equity ratio of 0.16.

Coterra Energy (NYSE:CTRA) last issued its quarterly earnings results on Thursday, October 31st. The company reported $0.32 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.35 by ($0.03). The company had revenue of $1.36 billion during the quarter, compared to the consensus estimate of $1.28 billion. Coterra Energy had a net margin of 21.91% and a return on equity of 9.38%. The company’s quarterly revenue was up .2% on a year-over-year basis. During the same quarter last year, the firm posted $0.47 earnings per share. As a group, equities research analysts forecast that Coterra Energy Inc. will post 1.53 earnings per share for the current year.

Coterra Energy Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 27th. Investors of record on Thursday, November 14th will be paid a $0.21 dividend. This represents a $0.84 annualized dividend and a dividend yield of 3.22%. The ex-dividend date of this dividend is Thursday, November 14th. Coterra Energy’s dividend payout ratio (DPR) is currently 50.60%.

Analyst Ratings Changes

A number of research firms recently issued reports on CTRA. Mizuho lifted their target price on Coterra Energy from $36.00 to $37.00 and gave the company an “outperform” rating in a research report on Friday, November 1st. Scotiabank lowered their target price on Coterra Energy from $35.00 to $32.00 and set a “sector outperform” rating on the stock in a research report on Thursday, October 10th. Piper Sandler lifted their target price on Coterra Energy from $32.00 to $35.00 and gave the company an “overweight” rating in a research report on Thursday, November 14th. Susquehanna lifted their price target on Coterra Energy from $30.00 to $33.00 and gave the stock a “positive” rating in a report on Thursday, November 14th. Finally, Wells Fargo & Company lifted their price target on Coterra Energy from $32.00 to $35.00 and gave the stock an “overweight” rating in a report on Friday. Two equities research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $32.41.

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.