First Trust Advisors LP Sells 416,393 Shares of Coterra Energy Inc. $CTRA

First Trust Advisors LP reduced its holdings in Coterra Energy Inc. (NYSE:CTRA) by 10.7% during the third quarter, Holdings Channel.com reports. The institutional investor owned 3,459,430 shares of the company’s stock after selling 416,393 shares during the quarter. First Trust Advisors LP’s holdings in Coterra Energy were worth $81,816,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Winnow Wealth LLC purchased a new stake in Coterra Energy in the third quarter worth $29,000. Atlantic Union Bankshares Corp purchased a new position in Coterra Energy during the 3rd quarter valued at $29,000. Tobam increased its position in Coterra Energy by 50.9% during the 2nd quarter. Tobam now owns 1,823 shares of the company’s stock valued at $46,000 after purchasing an additional 615 shares during the period. Bogart Wealth LLC raised its holdings in Coterra Energy by 97.8% in the 3rd quarter. Bogart Wealth LLC now owns 2,022 shares of the company’s stock worth $48,000 after purchasing an additional 1,000 shares in the last quarter. Finally, CYBER HORNET ETFs LLC bought a new position in Coterra Energy in the 2nd quarter worth $50,000. 87.92% of the stock is owned by hedge funds and other institutional investors.

Coterra Energy Stock Up 0.4%

NYSE:CTRA opened at $31.16 on Tuesday. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.19 and a quick ratio of 1.16. The firm’s 50-day moving average price is $28.61 and its 200-day moving average price is $26.16. The company has a market capitalization of $23.66 billion, a PE ratio of 13.67, a P/E/G ratio of 0.77 and a beta of 0.37. Coterra Energy Inc. has a 1-year low of $22.33 and a 1-year high of $32.67.

Coterra Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 25th. Shareholders of record on Wednesday, March 11th will be issued a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a yield of 2.8%. The ex-dividend date is Wednesday, March 11th. Coterra Energy’s dividend payout ratio is 38.60%.

Analyst Upgrades and Downgrades

CTRA has been the topic of a number of research reports. Scotiabank reaffirmed a “sector perform” rating and set a $31.00 target price on shares of Coterra Energy in a research note on Tuesday, February 3rd. Piper Sandler increased their price target on shares of Coterra Energy from $36.00 to $41.00 and gave the stock an “overweight” rating in a research note on Thursday, March 5th. Zacks Research lowered shares of Coterra Energy from a “hold” rating to a “strong sell” rating in a report on Monday, January 19th. Roth Mkm set a $28.00 price objective on Coterra Energy and gave the company a “neutral” rating in a research report on Tuesday, February 3rd. Finally, Barclays reduced their target price on Coterra Energy from $35.00 to $34.00 and set an “overweight” rating on the stock in a report on Wednesday, January 21st. Fifteen investment analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $34.00.

Coterra Energy Profile

Coterra Energy (NYSE: CTRA) is an independent oil and natural gas exploration and production company focused on the development, production and optimization of onshore hydrocarbon resources in the United States. The company’s operations center on the exploration, drilling, completion and production of crude oil, natural gas and natural gas liquids (NGLs), with an emphasis on maximizing operational efficiency and capital discipline across its asset base.

Its business activities include identifying and developing resource-rich acreage, operating producing wells, managing reservoir performance and marketing produced hydrocarbons to a range of midstream and energy customers.