Commonwealth Equity Services LLC Has $19.01 Million Holdings in Coterra Energy Inc. (NYSE:CTRA)

Key Points

• Commonwealth Equity Services LLC reduced its stake in Coterra Energy Inc. by 6.9%, owning 657,641 shares worth approximately $19.01 million at the end of the last quarter.
• Coterra Energy announced a quarterly dividend of $0.22 per share, with an annualized yield of 3.7% and a payout ratio of 42.11%.
• The company reported a net margin of 23.80% and quarterly revenue increased 54.6% year-over-year despite missing earnings estimates by $0.02.

Commonwealth Equity Services LLC lessened its stake in shares of Coterra Energy Inc. (NYSE:CTRA - Free Report) by 6.9% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 657,641 shares of the company's stock after selling 48,745 shares during the quarter. Commonwealth Equity Services LLC owned 0.09% of Coterra Energy worth $19,006,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of CTRA. Donald L. Hagan LLC increased its holdings in shares of Coterra Energy by 1.1% during the first quarter. Donald L. Hagan LLC now owns 35,754 shares of the company's stock worth $1,033,000 after buying an additional 401 shares in the last quarter. Investors Research Corp grew its position in Coterra Energy by 45.2% during the 1st quarter. Investors Research Corp now owns 1,311 shares of the company's stock worth $38,000 after acquiring an additional 408 shares during the last quarter. Saxon Interests Inc. increased its holdings in Coterra Energy by 5.1% during the 1st quarter. Saxon Interests Inc. now owns 9,319 shares of the company's stock valued at $269,000 after purchasing an additional 451 shares in the last quarter. Tectonic Advisors LLC raised its position in Coterra Energy by 3.2% in the 1st quarter. Tectonic Advisors LLC now owns 14,834 shares of the company's stock valued at $429,000 after purchasing an additional 459 shares during the last quarter. Finally, Procyon Advisors LLC boosted its stake in Coterra Energy by 3.6% in the first quarter. Procyon Advisors LLC now owns 13,460 shares of the company's stock worth $389,000 after purchasing an additional 469 shares in the last quarter. Institutional investors and hedge funds own 87.92% of the company's stock.

Coterra Energy Stock Down 2.1%

NYSE:CTRA opened at $23.75 on Friday. The company has a quick ratio of 0.86, a current ratio of 1.13 and a debt-to-equity ratio of 0.29. Coterra Energy Inc. has a 12-month low of $22.30 and a 12-month high of $29.95. The stock's fifty day simple moving average is $25.08 and its 200-day simple moving average is $26.06. The firm has a market capitalization of $18.13 billion, a P/E ratio of 11.36, a P/E/G ratio of 0.33 and a beta of 0.33.

Coterra Energy (NYSE:CTRA - Get Free Report) last released its earnings results on Monday, August 4th. The company reported $0.48 earnings per share for the quarter, missing the consensus estimate of $0.50 by ($0.02). The company had revenue of $1.97 billion during the quarter, compared to analyst estimates of $1.78 billion. Coterra Energy had a net margin of 23.80% and a return on equity of 10.99%. The company's quarterly revenue was up 54.6% compared to the same quarter last year. During the same period in the previous year, the company posted $0.37 EPS. Equities research analysts expect 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 will be paid on Thursday, August 28th. Investors of record on Thursday, August 14th will be issued a dividend of $0.22 per share. The ex-dividend date is Thursday, August 14th. This represents a $0.88 dividend on an annualized basis and a yield of 3.7%. Coterra Energy's payout ratio is currently 42.11%.

Analyst Ratings Changes

CTRA has been the subject of a number of research analyst reports. Wells Fargo & Company cut their price target on Coterra Energy from $33.00 to $31.00 and set an "overweight" rating for the company in a report on Monday, June 16th. Mizuho dropped their target price on shares of Coterra Energy from $38.00 to $36.00 and set an "outperform" rating for the company in a research note on Tuesday, May 13th. The Goldman Sachs Group reiterated a "neutral" rating and set a $31.00 target price on shares of Coterra Energy in a research report on Tuesday, July 1st. Scotiabank reissued an "outperform" rating on shares of Coterra Energy in a report on Friday, July 11th. Finally, Susquehanna dropped their price objective on shares of Coterra Energy from $34.00 to $32.00 and set a "positive" rating for the company in a research report on Tuesday, April 22nd. Four analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $33.16.

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.

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