Sterling Capital Management LLC Sells 199,762 Shares of Coterra Energy Inc. $CTRA

Sterling Capital Management LLC lowered its stake in shares of Coterra Energy Inc. (NYSE:CTRA) by 5.7% in the second quarter, Holdings Channel reports. The firm owned 3,324,276 shares of the company’s stock after selling 199,762 shares during the period. Coterra Energy comprises about 1.2% of Sterling Capital Management LLC’s holdings, making the stock its 18th biggest position. Sterling Capital Management LLC’s holdings in Coterra Energy were worth $84,370,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Cornerstone Planning Group LLC boosted its holdings 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 buying an additional 555 shares during the period. Bogart Wealth LLC acquired a new position in Coterra Energy during the 2nd quarter worth $26,000. REAP Financial Group LLC boosted 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 acquiring an additional 726 shares during the period. Banque Cantonale Vaudoise bought a new stake in Coterra Energy during the first quarter valued at about $29,000. Finally, TCTC Holdings LLC grew its position in shares of Coterra Energy by 51.0% in the first quarter. TCTC Holdings LLC now owns 1,771 shares of the company’s stock valued at $51,000 after purchasing an additional 598 shares during the last quarter. Institutional investors own 87.92% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the company. Morgan Stanley cut their price objective on Coterra Energy from $29.00 to $28.00 and set an “equal weight” rating for the company in a research report on Tuesday, October 14th. Raymond James Financial cut their target price on shares of Coterra Energy from $34.00 to $28.00 in a research note on Tuesday, October 28th. JPMorgan Chase & Co. increased their price target on shares of Coterra Energy from $33.00 to $35.00 and gave the company an “overweight” rating in a report on Tuesday, October 7th. UBS Group dropped their price objective on shares of Coterra Energy from $30.00 to $29.00 and set a “buy” rating on the stock in a report on Tuesday, October 14th. Finally, Roth Capital reiterated a “buy” rating and issued a $27.00 target price on shares of Coterra Energy in a research note on Tuesday. Sixteen equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $32.35.

Coterra Energy Price Performance

NYSE:CTRA opened at $26.36 on Friday. 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 50-day moving average of $23.88 and a 200-day moving average of $24.44. Coterra Energy Inc. has a 52 week low of $22.33 and a 52 week high of $29.95. The company has a market capitalization of $20.12 billion, a price-to-earnings ratio of 12.61, a PEG ratio of 0.36 and a beta of 0.30.

Coterra Energy (NYSE:CTRA) last posted its quarterly earnings results on Monday, November 3rd. The company reported $0.41 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.43 by ($0.02). The business had revenue of $558.00 million during the quarter, compared to analyst estimates of $1.83 billion. Coterra Energy had a return on equity of 10.99% and a net margin of 23.80%.The business’s revenue for the quarter was up 33.7% on a year-over-year basis. During the same period last year, the company earned $0.32 EPS. As a group, equities research analysts anticipate that Coterra Energy Inc. will post 1.54 earnings per share for the current fiscal year.

Coterra Energy Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 26th. Investors of record on Thursday, November 13th will be paid a $0.22 dividend. The ex-dividend date of this dividend is Thursday, November 13th. This represents a $0.88 annualized dividend and a yield of 3.3%. Coterra Energy’s payout ratio is currently 40.55%.

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.