Hennion & Walsh Asset Management Inc. Lowers Stock Position in Coterra Energy Inc. $CTRA

Hennion & Walsh Asset Management Inc. cut its stake in shares of Coterra Energy Inc. (NYSE:CTRA) by 31.1% in the 4th quarter, HoldingsChannel reports. The firm owned 34,602 shares of the company’s stock after selling 15,631 shares during the period. Hennion & Walsh Asset Management Inc.’s holdings in Coterra Energy were worth $911,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of CTRA. New York State Common Retirement Fund lifted its holdings in shares of Coterra Energy by 1.4% during the 2nd quarter. New York State Common Retirement Fund now owns 334,923 shares of the company’s stock worth $8,500,000 after acquiring an additional 4,500 shares during the last quarter. Lido Advisors LLC increased its stake in Coterra Energy by 16.2% in the second quarter. Lido Advisors LLC now owns 9,599 shares of the company’s stock valued at $244,000 after acquiring an additional 1,335 shares during the last quarter. Panagora Asset Management Inc. raised its position in Coterra Energy by 225.0% during the second quarter. Panagora Asset Management Inc. now owns 62,336 shares of the company’s stock valued at $1,582,000 after purchasing an additional 43,154 shares in the last quarter. Edgestream Partners L.P. purchased a new stake in Coterra Energy during the second quarter valued at about $1,889,000. Finally, Fisher Asset Management LLC lifted its stake in Coterra Energy by 11.1% during the second quarter. Fisher Asset Management LLC now owns 15,612 shares of the company’s stock worth $396,000 after purchasing an additional 1,558 shares during the last quarter. Hedge funds and other institutional investors own 87.92% of the company’s stock.

Coterra Energy Stock Up 0.1%

Shares of NYSE:CTRA opened at $34.58 on Friday. The stock has a market capitalization of $26.26 billion, a P/E ratio of 15.17, a price-to-earnings-growth ratio of 0.61 and a beta of 0.29. The stock’s 50-day moving average price is $31.62 and its 200-day moving average price is $27.41. The company has a current ratio of 1.19, a quick ratio of 1.16 and a debt-to-equity ratio of 0.24. Coterra Energy Inc. has a 12-month low of $22.33 and a 12-month high of $36.88.

Coterra Energy Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 25th. Investors of record on Wednesday, March 11th were given a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a yield of 2.5%. The ex-dividend date was Wednesday, March 11th. Coterra Energy’s dividend payout ratio (DPR) is presently 38.60%.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on CTRA. Weiss Ratings upgraded Coterra Energy from a “hold (c+)” rating to a “buy (b)” rating in a research report on Monday, March 2nd. Scotiabank upgraded Coterra Energy to a “hold” rating in a research report on Friday, March 27th. Texas Capital lowered Coterra Energy from a “strong-buy” rating to a “hold” rating in a research note on Monday, March 9th. Jefferies Financial Group increased their price target on shares of Coterra Energy from $26.00 to $28.00 in a research report on Monday, March 9th. Finally, BMO Capital Markets lifted their price target on shares of Coterra Energy from $32.00 to $35.00 and gave the stock a “market perform” rating in a research note on Tuesday, March 3rd. Sixteen investment analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company. Based on data from MarketBeat.com, Coterra Energy has an average rating of “Moderate Buy” and a consensus price target of $36.17.

About Coterra Energy

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.