Envestnet Portfolio Solutions Inc. Has $2.94 Million Stock Position in Coterra Energy Inc. $CTRA

Envestnet Portfolio Solutions Inc. reduced its position in shares of Coterra Energy Inc. (NYSE:CTRA) by 18.6% in the 2nd quarter, Holdings Channel reports. The firm owned 115,767 shares of the company’s stock after selling 26,479 shares during the period. Envestnet Portfolio Solutions Inc.’s holdings in Coterra Energy were worth $2,938,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC raised its position in Coterra Energy by 7.6% during the first quarter. Allspring Global Investments Holdings LLC now owns 123,054 shares of the company’s stock valued at $3,577,000 after purchasing an additional 8,726 shares in the last quarter. Vontobel Holding Ltd. acquired a new position in shares of Coterra Energy during the first quarter worth $233,000. Truist Financial Corp increased its holdings in shares of Coterra Energy by 165.3% during the second quarter. Truist Financial Corp now owns 4,213,315 shares of the company’s stock worth $106,934,000 after buying an additional 2,625,126 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of Coterra Energy by 15.4% during the second quarter. Mirae Asset Global Investments Co. Ltd. now owns 785,835 shares of the company’s stock worth $19,944,000 after buying an additional 104,999 shares in the last quarter. Finally, Janney Montgomery Scott LLC increased its holdings in shares of Coterra Energy by 9.4% during the first quarter. Janney Montgomery Scott LLC now owns 251,726 shares of the company’s stock worth $7,275,000 after buying an additional 21,733 shares in the last quarter. 87.92% of the stock is currently owned by institutional investors and hedge funds.

Coterra Energy Stock Performance

Shares of CTRA opened at $23.22 on Thursday. The company has a current ratio of 1.13, a quick ratio of 1.08 and a debt-to-equity ratio of 0.29. The stock has a market capitalization of $17.72 billion, a P/E ratio of 11.11, a price-to-earnings-growth ratio of 0.34 and a beta of 0.29. The firm’s fifty day simple moving average is $23.85 and its two-hundred day simple moving average is $24.69. Coterra Energy Inc. has a 12 month low of $22.46 and a 12 month high of $29.95.

Coterra Energy (NYSE:CTRA) last issued its quarterly earnings results on Monday, August 4th. The company reported $0.48 EPS for the quarter, missing analysts’ consensus estimates of $0.50 by ($0.02). The firm had revenue of $1.97 billion for the quarter, compared to the consensus estimate of $1.78 billion. Coterra Energy had a net margin of 23.80% and a return on equity of 10.99%. The business’s revenue was up 54.6% compared to the same quarter last year. During the same period last year, the company posted $0.37 EPS. As a group, analysts predict that Coterra Energy Inc. will post 1.54 EPS for the current year.

Coterra Energy Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, August 28th. Shareholders of record on Thursday, August 14th were given a dividend of $0.22 per share. The ex-dividend date of this dividend was Thursday, August 14th. This represents a $0.88 dividend on an annualized basis and a yield of 3.8%. Coterra Energy’s dividend payout ratio is 42.11%.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the stock. Zacks Research downgraded shares of Coterra Energy from a “hold” rating to a “strong sell” rating in a report on Monday. The Goldman Sachs Group lowered their price target on shares of Coterra Energy from $30.00 to $29.00 and set a “neutral” rating for the company in a report on Wednesday. Barclays lowered their price target on shares of Coterra Energy from $37.00 to $35.00 and set an “overweight” rating for the company in a report on Tuesday, October 7th. Raymond James Financial reissued an “outperform” rating and issued a $34.00 price objective (down previously from $38.00) on shares of Coterra Energy in a research note on Thursday, September 11th. Finally, Mizuho reduced their price objective on shares of Coterra Energy from $36.00 to $33.00 and set an “outperform” rating on the stock in a research note on Monday, September 15th. Sixteen research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $32.50.

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.