Coterra Energy Inc. (NYSE:CTRA) Shares Sold by Empirical Financial Services LLC d.b.a. Empirical Wealth Management

Key Points

• Empirical Financial Services LLC significantly reduced its holdings in Coterra Energy by 90% during the first quarter, now owning only 7,391 shares worth approximately $214,000.
• Coterra Energy reported a 32.9% increase in revenue year-over-year, with earnings per share of $0.80, surpassing analysts' expectations of $0.71.
• Analysts have set price targets for Coterra Energy, with estimates ranging from $28.00 to $38.00, reflecting a consensus target price of $33.16.

Empirical Financial Services LLC d.b.a. Empirical Wealth Management reduced its holdings in Coterra Energy Inc. (NYSE:CTRA - Free Report) by 90.0% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 7,391 shares of the company's stock after selling 66,179 shares during the quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management's holdings in Coterra Energy were worth $214,000 as of its most recent filing with the Securities and Exchange Commission.

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

Coterra Energy Stock Down 2.9%

Shares of Coterra Energy stock opened at $23.69 on Monday. Coterra Energy Inc. has a 1-year low of $22.30 and a 1-year high of $29.95. The company has a market capitalization of $18.08 billion, a PE ratio of 13.77, a P/E/G ratio of 0.32 and a beta of 0.33. The company has a debt-to-equity ratio of 0.30, a current ratio of 0.90 and a quick ratio of 0.86. The business has a 50-day moving average of $25.13 and a 200-day moving average of $26.16.

Coterra Energy (NYSE:CTRA - Get Free Report) last issued its quarterly 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 return on equity of 10.61% and a net margin of 21.67%. The firm had revenue of $924.00 million during the quarter, compared to the consensus estimate of $1.92 billion. During the same quarter in the prior year, the business posted $0.51 earnings per share. Coterra Energy's revenue for the quarter was up 32.9% on a year-over-year basis. As a group, equities analysts forecast that Coterra Energy Inc. will post 1.54 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research firms have recently commented on CTRA. The Goldman Sachs Group restated a "neutral" rating and issued a $31.00 price objective on shares of Coterra Energy in a report on Tuesday, July 1st. Piper Sandler reissued an "overweight" rating and set a $37.00 target price (up previously from $36.00) on shares of Coterra Energy in a research report on Thursday, July 17th. Morgan Stanley set a $28.00 price target on shares of Coterra Energy in a research report on Tuesday, April 15th. Wells Fargo & Company decreased their price objective on shares of Coterra Energy from $33.00 to $31.00 and set an "overweight" rating for the company in a research note on Monday, June 16th. Finally, Raymond James Financial set a $38.00 target price on shares of Coterra Energy and gave the company an "outperform" rating in a research note on Friday, June 13th. Four research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $33.16.

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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