Coterra Energy Inc. (NYSE:CTRA) Shares Sold by ING Groep NV

ING Groep NV trimmed its stake in shares of Coterra Energy Inc. (NYSE:CTRA) by 69.3% in the 3rd quarter, HoldingsChannel reports. The firm owned 245,524 shares of the company’s stock after selling 553,775 shares during the period. ING Groep NV’s holdings in Coterra Energy were worth $5,880,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in CTRA. Fortitude Family Office LLC increased its holdings in Coterra Energy by 154.9% in the second quarter. Fortitude Family Office LLC now owns 933 shares of the company’s stock valued at $25,000 after buying an additional 567 shares during the last quarter. Larson Financial Group LLC lifted its stake 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 purchasing an additional 535 shares during the last quarter. EverSource Wealth Advisors LLC boosted its holdings in Coterra Energy by 31.0% in the first quarter. EverSource Wealth Advisors LLC now owns 2,351 shares of the company’s stock valued at $64,000 after purchasing an additional 557 shares in the last quarter. Values First Advisors Inc. purchased a new position in Coterra Energy in the third quarter valued at approximately $57,000. Finally, Family Firm Inc. acquired a new stake in Coterra Energy during the second quarter worth approximately $68,000. Institutional investors and hedge funds own 87.92% of the company’s stock.

Analysts Set New Price Targets

CTRA has been the topic of a number of recent analyst reports. Susquehanna increased their target price on shares of Coterra Energy from $30.00 to $33.00 and gave the company a “positive” rating in a research report on Thursday. Morgan Stanley lifted their target price on Coterra Energy from $27.00 to $29.00 and gave the stock an “equal weight” rating in a research report on Thursday. Piper Sandler lifted their price target on Coterra Energy from $32.00 to $35.00 and gave the stock an “overweight” rating in a research report on Thursday. Barclays raised their target price on shares of Coterra Energy from $31.00 to $33.00 and gave the stock an “overweight” rating in a research report on Thursday. Finally, Scotiabank reduced their price target on shares of Coterra Energy from $35.00 to $32.00 and set a “sector outperform” rating for the company in a research report on Thursday, October 10th. 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 stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $32.41.

Coterra Energy Trading Up 0.5 %

NYSE:CTRA opened at $25.55 on Friday. Coterra Energy Inc. has a 1 year low of $22.30 and a 1 year high of $28.90. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.56 and a current ratio of 1.61. The stock has a fifty day moving average price of $23.95 and a two-hundred day moving average price of $25.48. The stock has a market capitalization of $18.82 billion, a price-to-earnings ratio of 15.39, a PEG ratio of 1.67 and a beta of 0.22.

Coterra Energy (NYSE:CTRA) last released its quarterly earnings results 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). The firm had revenue of $1.36 billion during the quarter, compared to analyst estimates of $1.28 billion. Coterra Energy had a return on equity of 9.38% and a net margin of 21.91%. The business’s revenue was up .2% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.47 EPS. As a group, sell-side 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 announced a quarterly dividend, which will be paid on Wednesday, November 27th. Shareholders of record on Thursday, November 14th will be given a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a yield of 3.29%. The ex-dividend date is Thursday, November 14th. Coterra Energy’s payout ratio is currently 50.60%.

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.