MONECO Advisors LLC Decreases Position in Coterra Energy Inc. (NYSE:CTRA)

MONECO Advisors LLC lowered its stake in shares of Coterra Energy Inc. (NYSE:CTRA) by 4.1% in the 3rd quarter, HoldingsChannel reports. The firm owned 18,353 shares of the company’s stock after selling 777 shares during the quarter. MONECO Advisors LLC’s holdings in Coterra Energy were worth $440,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently modified their holdings of the company. Bank of Montreal Can boosted its holdings in Coterra Energy by 160.1% in the 2nd quarter. Bank of Montreal Can now owns 2,898,876 shares of the company’s stock worth $80,154,000 after buying an additional 1,784,192 shares during the period. SG Americas Securities LLC boosted its holdings in Coterra Energy by 2,609.6% in the 1st quarter. SG Americas Securities LLC now owns 1,541,342 shares of the company’s stock worth $42,973,000 after buying an additional 1,484,458 shares during the period. Marshall Wace LLP boosted its holdings in Coterra Energy by 5,325.5% in the 2nd quarter. Marshall Wace LLP now owns 1,148,569 shares of the company’s stock worth $30,632,000 after buying an additional 1,127,399 shares during the period. Clearbridge Investments LLC bought a new position in Coterra Energy in the 1st quarter worth approximately $28,967,000. Finally, American Century Companies Inc. boosted its holdings in Coterra Energy by 29.1% in the 2nd quarter. American Century Companies Inc. now owns 4,498,227 shares of the company’s stock worth $119,968,000 after buying an additional 1,013,107 shares during the period. Hedge funds and other institutional investors own 87.92% of the company’s stock.

Coterra Energy Price Performance

CTRA stock opened at $24.13 on Thursday. The firm’s 50-day moving average price is $23.82 and its two-hundred day moving average price is $25.75. Coterra Energy Inc. has a 12-month low of $22.30 and a 12-month high of $28.90. The stock has a market capitalization of $17.84 billion, a price-to-earnings ratio of 13.95, a PEG ratio of 1.41 and a beta of 0.22. The company has a current ratio of 1.40, a quick ratio of 1.38 and a debt-to-equity ratio of 0.16.

Coterra Energy (NYSE:CTRA) last released its quarterly earnings data on Thursday, August 1st. The company reported $0.37 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.02). Coterra Energy had a net margin of 23.18% and a return on equity of 10.48%. The firm had revenue of $1.27 billion during the quarter, compared to analysts’ expectations of $1.32 billion. During the same quarter in the previous year, the firm posted $0.38 EPS. Coterra Energy’s revenue was up 7.3% compared to the same quarter last year. As a group, equities analysts predict that Coterra Energy Inc. will post 1.72 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several brokerages have commented on CTRA. Piper Sandler cut their price target on shares of Coterra Energy from $39.00 to $31.00 and set an “overweight” rating for the company in a report on Thursday, August 15th. Susquehanna cut their price target on shares of Coterra Energy from $33.00 to $30.00 and set a “positive” rating for the company in a report on Wednesday, September 4th. Barclays cut their price target on shares of Coterra Energy from $33.00 to $31.00 and set an “overweight” rating for the company in a report on Thursday, October 3rd. UBS Group cut their price target on shares of Coterra Energy from $34.00 to $31.00 and set a “buy” rating for the company in a report on Wednesday, September 18th. Finally, Truist Financial dropped their price objective on shares of Coterra Energy from $34.00 to $31.00 and set a “buy” rating for the company in a report on Monday, September 30th. Two research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $32.06.

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.