Quadrant Capital Group LLC Lowers Stock Holdings in Coterra Energy Inc. $CTRA

Quadrant Capital Group LLC reduced its holdings in Coterra Energy Inc. (NYSE:CTRA) by 14.9% during the 2nd quarter, Holdings Channel reports. The firm owned 32,539 shares of the company’s stock after selling 5,719 shares during the quarter. Quadrant Capital Group LLC’s holdings in Coterra Energy were worth $826,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in CTRA. Wellington Management Group LLP lifted its position in shares of Coterra Energy by 15.3% during the 1st quarter. Wellington Management Group LLP now owns 83,631,117 shares of the company’s stock valued at $2,416,939,000 after buying an additional 11,102,350 shares in the last quarter. Davis Selected Advisers purchased a new position in Coterra Energy during the second quarter valued at $237,002,000. Vanguard Group Inc. lifted its holdings in Coterra Energy by 4.3% during the first quarter. Vanguard Group Inc. now owns 92,337,673 shares of the company’s stock valued at $2,668,559,000 after purchasing an additional 3,818,700 shares in the last quarter. Truist Financial Corp grew its position in shares of Coterra Energy by 165.3% in the second quarter. Truist Financial Corp now owns 4,213,315 shares of the company’s stock valued at $106,934,000 after purchasing an additional 2,625,126 shares during the period. Finally, Nuveen LLC purchased a new stake in shares of Coterra Energy during the first quarter worth about $64,173,000. 87.92% of the stock is owned by institutional investors and hedge funds.

Coterra Energy Stock Performance

NYSE CTRA opened at $26.98 on Tuesday. The stock’s fifty day moving average is $24.59 and its two-hundred day moving average is $24.63. The firm has a market capitalization of $20.54 billion, a P/E ratio of 12.91, a price-to-earnings-growth ratio of 0.36 and a beta of 0.30. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.08 and a current ratio of 1.13. Coterra Energy Inc. has a fifty-two week low of $22.33 and a fifty-two week high of $29.95.

Coterra Energy (NYSE:CTRA) last issued its earnings results on Monday, November 3rd. The company reported $0.41 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.02). Coterra Energy had a return on equity of 10.99% and a net margin of 23.80%.The company had revenue of $1.82 billion during the quarter, compared to analyst estimates of $1.83 billion. During the same period last year, the business earned $0.32 earnings per share. The firm’s revenue was up 33.7% compared to the same quarter last year. On average, research analysts anticipate that Coterra Energy Inc. will post 1.54 earnings per share for the current year.

Coterra Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, November 26th. Investors of record on Thursday, November 13th were given a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a yield of 3.3%. The ex-dividend date was Thursday, November 13th. Coterra Energy’s dividend payout ratio (DPR) is presently 40.55%.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on CTRA. Roth Capital reaffirmed a “buy” rating and issued a $27.00 price target on shares of Coterra Energy in a research note on Tuesday, November 4th. Scotiabank lowered their price target on Coterra Energy from $35.00 to $32.00 and set a “sector outperform” rating on the stock in a research note on Thursday, October 9th. Barclays reduced their price objective on Coterra Energy from $37.00 to $35.00 and set an “overweight” rating for the company in a research note on Tuesday, October 7th. Morgan Stanley decreased their price objective on Coterra Energy from $29.00 to $28.00 and set an “equal weight” rating on the stock in a report on Tuesday, October 14th. Finally, Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Coterra Energy in a report on Wednesday, November 19th. Seventeen investment analysts have rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Coterra Energy currently has an average rating of “Moderate Buy” and a consensus price target of $32.86.

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.