Wealthfront Advisers LLC Trims Stock Position in Coterra Energy Inc. $CTRA

Wealthfront Advisers LLC decreased its holdings in Coterra Energy Inc. (NYSE:CTRA) by 11.3% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 210,212 shares of the company’s stock after selling 26,717 shares during the quarter. Wealthfront Advisers LLC’s holdings in Coterra Energy were worth $5,335,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. Cornerstone Planning Group LLC boosted its stake in shares of Coterra Energy by 175.6% during the 1st quarter. Cornerstone Planning Group LLC now owns 871 shares of the company’s stock worth $25,000 after acquiring an additional 555 shares during the last quarter. Raleigh Capital Management Inc. raised its holdings in Coterra Energy by 463.5% in the 1st quarter. Raleigh Capital Management Inc. now owns 896 shares of the company’s stock worth $26,000 after purchasing an additional 737 shares during the period. Banque Cantonale Vaudoise purchased a new position in Coterra Energy during the first quarter valued at $29,000. Bogart Wealth LLC bought a new stake in Coterra Energy during the second quarter valued at about $26,000. Finally, REAP Financial Group LLC grew its holdings in Coterra Energy by 190.1% during the second quarter. REAP Financial Group LLC now owns 1,108 shares of the company’s stock valued at $28,000 after purchasing an additional 726 shares during the period. 87.92% of the stock is currently owned by institutional investors.

Coterra Energy Stock Performance

Shares of NYSE CTRA opened at $23.40 on Wednesday. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.08 and a current ratio of 1.13. The company has a market cap of $17.86 billion, a P/E ratio of 11.20, a P/E/G ratio of 0.36 and a beta of 0.29. The firm’s fifty day moving average is $23.76 and its two-hundred day moving average is $24.48. Coterra Energy Inc. has a 52-week low of $22.33 and a 52-week high of $29.95.

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

Coterra Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 28th. Shareholders of record on Thursday, August 14th were paid a $0.22 dividend. 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 payout ratio is presently 42.11%.

Analysts Set New Price Targets

Several research analysts have recently commented on the company. Raymond James Financial reaffirmed an “outperform” rating and set a $34.00 price objective (down from $38.00) on shares of Coterra Energy in a research report on Thursday, September 11th. Roth Capital decreased their target price on shares of Coterra Energy from $27.00 to $26.00 and set a “buy” rating on the stock in a research note on Wednesday, October 15th. Piper Sandler lowered their price target on shares of Coterra Energy from $39.00 to $38.00 and set an “overweight” rating on the stock in a report on Tuesday, October 21st. The Goldman Sachs Group reduced their price objective on shares of Coterra Energy from $30.00 to $29.00 and set a “neutral” rating for the company in a research note on Wednesday, October 15th. Finally, Zacks Research downgraded shares of Coterra Energy from a “hold” rating to a “strong sell” rating in a research report on Monday, October 13th. Sixteen 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’s stock. According to MarketBeat, Coterra Energy presently has an average rating of “Moderate Buy” and an average price target of $32.60.

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.