Concurrent Investment Advisors LLC Sells 9,889 Shares of Coterra Energy Inc. (NYSE:CTRA)

Concurrent Investment Advisors LLC decreased its stake in shares of Coterra Energy Inc. (NYSE:CTRA - Free Report) by 56.8% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 7,525 shares of the company's stock after selling 9,889 shares during the period. Concurrent Investment Advisors LLC's holdings in Coterra Energy were worth $217,000 as of its most recent SEC filing.

A number of other large investors have also recently modified their holdings of CTRA. Wayfinding Financial LLC bought a new stake in Coterra Energy during the first quarter worth about $34,000. Investors Research Corp boosted its stake in Coterra Energy by 45.2% during the first quarter. Investors Research Corp now owns 1,311 shares of the company's stock worth $38,000 after acquiring an additional 408 shares in the last quarter. VSM Wealth Advisory LLC bought a new stake in Coterra Energy during the fourth quarter worth about $46,000. Catalyst Capital Advisors LLC bought a new stake in Coterra Energy during the first quarter worth about $46,000. Finally, Alpine Bank Wealth Management bought a new stake in Coterra Energy during the first quarter worth about $47,000. Institutional investors own 87.92% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on CTRA shares. Morgan Stanley set a $28.00 price objective on shares of Coterra Energy in a research note on Tuesday, April 15th. Barclays boosted their price objective on shares of Coterra Energy from $35.00 to $37.00 and gave the stock an "overweight" rating in a research note on Monday, July 7th. Bank of America decreased their target price on shares of Coterra Energy from $34.00 to $33.00 and set a "buy" rating for the company in a report on Tuesday, April 29th. Wells Fargo & Company decreased their target price on shares of Coterra Energy from $33.00 to $31.00 and set an "overweight" rating for the company in a report on Monday, June 16th. Finally, The Goldman Sachs Group reaffirmed a "neutral" rating and issued a $31.00 target price on shares of Coterra Energy in a report on Tuesday, July 1st. Four equities research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $33.20.

Coterra Energy Stock Up 0.8%

CTRA opened at $25.30 on Friday. The company has a quick ratio of 0.86, a current ratio of 0.90 and a debt-to-equity ratio of 0.30. The firm has a 50 day moving average price of $25.18 and a 200-day moving average price of $26.45. Coterra Energy Inc. has a twelve month low of $22.30 and a twelve month high of $29.95. The stock has a market capitalization of $19.31 billion, a price-to-earnings ratio of 14.71, a PEG ratio of 0.35 and a beta of 0.35.

Coterra Energy (NYSE:CTRA - Get Free Report) last announced its earnings results on Monday, May 5th. The company reported $0.80 EPS for the quarter, beating analysts' consensus estimates of $0.71 by $0.09. Coterra Energy had a net margin of 21.67% and a return on equity of 10.61%. The business had revenue of $924.00 million during the quarter, compared to analysts' expectations of $1.92 billion. During the same period in the prior year, the company earned $0.51 earnings per share. The firm's revenue was up 32.9% on a year-over-year basis. Equities research analysts forecast that Coterra Energy Inc. will post 1.54 earnings per share for the current year.

Coterra Energy Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, May 29th. Shareholders of record on Thursday, May 15th were issued a dividend of $0.22 per share. The ex-dividend date of this dividend was Thursday, May 15th. This represents a $0.88 dividend on an annualized basis and a yield of 3.48%. Coterra Energy's dividend payout ratio is currently 51.16%.

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.

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