B. Riley Wealth Advisors Inc. Cuts Stock Holdings in Coterra Energy Inc. (NYSE:CTRA)

B. Riley Wealth Advisors Inc. lowered its holdings in Coterra Energy Inc. (NYSE:CTRA) by 30.3% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 9,815 shares of the company’s stock after selling 4,265 shares during the quarter. B. Riley Wealth Advisors Inc.’s holdings in Coterra Energy were worth $238,000 as of its most recent filing with the SEC.

A number of other large investors have also made changes to their positions in the stock. Larson Financial Group LLC grew its position in Coterra Energy by 98.0% during the second quarter. Larson Financial Group LLC now owns 1,081 shares of the company’s stock worth $29,000 after buying an additional 535 shares during the period. Values First Advisors Inc. purchased a new position in shares of Coterra Energy during the 3rd quarter worth approximately $57,000. Tobam acquired a new position in shares of Coterra Energy in the third quarter worth $63,000. Capital Performance Advisors LLP acquired a new position in Coterra Energy in the 3rd quarter valued at about $67,000. Finally, Bruce G. Allen Investments LLC lifted its stake in shares of Coterra Energy by 17.4% during the third quarter. Bruce G. Allen Investments LLC now owns 3,033 shares of the company’s stock valued at $73,000 after buying an additional 450 shares during the period. Hedge funds and other institutional investors own 87.92% of the company’s stock.

Insider Buying and Selling at Coterra Energy

In other news, SVP Adam M. Vela sold 16,435 shares of the firm’s stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $26.76, for a total value of $439,800.60. Following the transaction, the senior vice president now directly owns 72,409 shares in the company, valued at approximately $1,937,664.84. This trade represents a 18.50 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, SVP Kevin William Smith sold 29,643 shares of Coterra Energy stock in a transaction that occurred on Tuesday, December 3rd. The shares were sold at an average price of $26.16, for a total value of $775,460.88. Following the completion of the transaction, the senior vice president now owns 77,075 shares of the company’s stock, valued at approximately $2,016,282. The trade was a 27.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.70% of the stock is currently owned by corporate insiders.

Coterra Energy Price Performance

Shares of CTRA stock opened at $23.68 on Friday. The firm has a fifty day simple moving average of $24.95 and a 200-day simple moving average of $25.10. The company has a market capitalization of $17.44 billion, a PE ratio of 14.27, a price-to-earnings-growth ratio of 1.64 and a beta of 0.27. Coterra Energy Inc. has a twelve month low of $22.30 and a twelve month high of $28.90. The company has a current ratio of 1.61, a quick ratio of 1.56 and a debt-to-equity ratio of 0.16.

Coterra Energy (NYSE:CTRA) last posted its quarterly earnings data on Thursday, October 31st. The company reported $0.32 earnings per share for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.03). Coterra Energy had a net margin of 21.91% and a return on equity of 9.38%. The firm had revenue of $1.36 billion during the quarter, compared to analysts’ expectations of $1.28 billion. During the same period in the previous year, the company earned $0.47 earnings per share. The business’s quarterly revenue was up .2% on a year-over-year basis. Equities research analysts anticipate that Coterra Energy Inc. will post 1.53 earnings per share for the current fiscal year.

Coterra Energy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, November 27th. Shareholders of record on Thursday, November 14th were issued a dividend of $0.21 per share. The ex-dividend date of this dividend was Thursday, November 14th. This represents a $0.84 annualized dividend and a yield of 3.55%. Coterra Energy’s dividend payout ratio is presently 50.60%.

Wall Street Analyst Weigh In

Several research firms recently weighed in on CTRA. Truist Financial increased their target price on Coterra Energy from $31.00 to $33.00 and gave the stock a “buy” rating in a research report on Thursday, November 14th. Barclays increased their price target on shares of Coterra Energy from $31.00 to $33.00 and gave the stock an “overweight” rating in a research note on Thursday, November 14th. Piper Sandler lowered their price objective on shares of Coterra Energy from $35.00 to $33.00 and set an “overweight” rating for the company in a research note on Tuesday, December 17th. Susquehanna increased their target price on Coterra Energy from $30.00 to $33.00 and gave the stock a “positive” rating in a research report on Thursday, November 14th. Finally, Citigroup boosted their price target on Coterra Energy from $28.00 to $32.00 and gave the company a “buy” rating in a research report on Tuesday, November 26th. Two investment analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Coterra Energy presently has an average rating of “Moderate Buy” and a consensus price target of $32.53.

Coterra Energy Company 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.