Los Angeles Capital Management LLC Reduces Stock Position in Coterra Energy Inc. (NYSE:CTRA)

Los Angeles Capital Management LLC lessened its holdings in shares of Coterra Energy Inc. (NYSE:CTRA) by 35.1% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 153,820 shares of the company’s stock after selling 83,171 shares during the period. Los Angeles Capital Management LLC’s holdings in Coterra Energy were worth $3,684,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. BNP PARIBAS ASSET MANAGEMENT Holding S.A. purchased a new stake in shares of Coterra Energy in the 1st quarter worth about $656,000. Quadrature Capital Ltd boosted its position in Coterra Energy by 112.2% during the 1st quarter. Quadrature Capital Ltd now owns 72,395 shares of the company’s stock valued at $2,018,000 after acquiring an additional 38,278 shares in the last quarter. CreativeOne Wealth LLC grew its holdings in shares of Coterra Energy by 130.3% during the 1st quarter. CreativeOne Wealth LLC now owns 56,860 shares of the company’s stock worth $1,586,000 after acquiring an additional 32,173 shares during the period. Raymond James & Associates raised its position in shares of Coterra Energy by 5.0% in the 2nd quarter. Raymond James & Associates now owns 1,187,663 shares of the company’s stock worth $31,675,000 after acquiring an additional 56,748 shares in the last quarter. Finally, Disciplined Growth Investors Inc. MN lifted its stake in shares of Coterra Energy by 1.0% in the 2nd quarter. Disciplined Growth Investors Inc. MN now owns 5,063,920 shares of the company’s stock valued at $135,055,000 after purchasing an additional 51,249 shares during the period. Institutional investors own 87.92% of the company’s stock.

Coterra Energy Stock Performance

Shares of CTRA stock opened at $25.22 on Wednesday. The firm has a market capitalization of $18.58 billion, a PE ratio of 15.19, a P/E/G ratio of 1.59 and a beta of 0.22. The company has a 50 day moving average price of $23.82 and a 200-day moving average price of $25.49. Coterra Energy Inc. has a 52 week low of $22.30 and a 52 week high of $28.90. The company has a quick ratio of 1.38, a current ratio of 1.61 and a debt-to-equity ratio of 0.16.

Coterra Energy (NYSE:CTRA) last announced its 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 company had revenue of $1.36 billion for the quarter, compared to analysts’ expectations of $1.28 billion. Coterra Energy had a net margin of 21.91% and a return on equity of 9.38%. Coterra Energy’s quarterly revenue was up .2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.47 earnings per share. As a group, equities research analysts expect that Coterra Energy Inc. will post 1.54 earnings per share for the current year.

Coterra Energy Dividend Announcement

The company 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 $0.21 dividend. The ex-dividend date is Thursday, November 14th. This represents a $0.84 annualized dividend and a yield of 3.33%. Coterra Energy’s payout ratio is 50.60%.

Wall Street Analyst Weigh In

CTRA has been the topic of several recent research reports. Scotiabank reduced their price target on Coterra Energy from $35.00 to $32.00 and set a “sector outperform” rating on the stock in a research note on Thursday, October 10th. Susquehanna decreased their price target on shares of Coterra Energy from $33.00 to $30.00 and set a “positive” rating for the company in a research note on Wednesday, September 4th. UBS Group dropped their price objective on shares of Coterra Energy from $34.00 to $31.00 and set a “buy” rating on the stock in a research note on Wednesday, September 18th. Mizuho raised their target price on shares of Coterra Energy from $36.00 to $37.00 and gave the company an “outperform” rating in a research note on Friday, November 1st. Finally, Morgan Stanley dropped their price target on Coterra Energy from $29.00 to $27.00 and set an “equal weight” rating on the stock in a research report on Monday, September 16th. Two analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Coterra Energy currently has an average rating of “Moderate Buy” and a consensus target price of $31.29.

About Coterra Energy

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.