Coterra Energy Inc. $CTRA Shares Sold by Integrity Wealth Advisors Inc.

Key Points

• Integrity Wealth Advisors Inc. decreased its stake in Coterra Energy Inc. by 46.4% during the first quarter, reducing its holdings to 12,072 shares worth approximately $349,000.
• Multiple institutional investors increased their positions in Coterra Energy, with Cornerstone Planning Group LLC growing its stake by 175.6% and Raleigh Capital Management Inc. boosting it by 463.5%.
• Coterra Energy's recent earnings report showed a net margin of 23.80% and a year-over-year revenue increase of 54.6%, although it missed the consensus EPS estimate by $0.02.

Integrity Wealth Advisors Inc. decreased its position in Coterra Energy Inc. (NYSE:CTRA - Free Report) by 46.4% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 12,072 shares of the company's stock after selling 10,452 shares during the period. Integrity Wealth Advisors Inc.'s holdings in Coterra Energy were worth $349,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in CTRA. Cornerstone Planning Group LLC increased its holdings in Coterra Energy by 175.6% in the first quarter. Cornerstone Planning Group LLC now owns 871 shares of the company's stock valued at $25,000 after buying an additional 555 shares in the last quarter. Raleigh Capital Management Inc. increased its stake in shares of Coterra Energy by 463.5% during the first quarter. Raleigh Capital Management Inc. now owns 896 shares of the company's stock worth $26,000 after purchasing an additional 737 shares in the last quarter. Banque Cantonale Vaudoise purchased a new stake in shares of Coterra Energy during the first quarter worth about $29,000. Wayfinding Financial LLC purchased a new stake in shares of Coterra Energy during the first quarter worth about $34,000. Finally, Investors Research Corp increased its stake in shares of 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 purchasing an additional 408 shares in the last quarter. Hedge funds and other institutional investors own 87.92% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the stock. Raymond James Financial restated an "outperform" rating and set a $34.00 price target (down from $38.00) on shares of Coterra Energy in a research report on Thursday. The Goldman Sachs Group restated a "neutral" rating and set a $31.00 price target on shares of Coterra Energy in a research report on Tuesday, July 1st. Pickering Energy Partners lowered shares of Coterra Energy from an "outperform" rating to a "neutral" rating in a research report on Tuesday, May 20th. Wells Fargo & Company boosted their price target on shares of Coterra Energy from $32.00 to $33.00 and gave the stock an "overweight" rating in a research report on Thursday, August 14th. Finally, Barclays boosted their price target on shares of Coterra Energy from $35.00 to $37.00 and gave the stock an "overweight" rating in a research report on Monday, July 7th. Fourteen equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to MarketBeat, Coterra Energy has an average rating of "Moderate Buy" and an average target price of $33.39.

Coterra Energy Stock Down 0.0%

CTRA traded down $0.01 during trading hours on Friday, hitting $24.36. 4,146,724 shares of the company's stock were exchanged, compared to its average volume of 4,998,333. Coterra Energy Inc. has a 12-month low of $22.46 and a 12-month high of $29.95. The firm has a 50 day moving average of $24.14 and a 200 day moving average of $25.30. The firm has a market cap of $18.59 billion, a P/E ratio of 11.66, a price-to-earnings-growth ratio of 0.34 and a beta of 0.34. The company has a current ratio of 1.13, a quick ratio of 1.08 and a debt-to-equity ratio of 0.29.

Coterra Energy (NYSE:CTRA - Get Free Report) last announced its quarterly earnings data on Monday, August 4th. The company reported $0.48 EPS for the quarter, missing analysts' consensus estimates of $0.50 by ($0.02). Coterra Energy had a net margin of 23.80% and a return on equity of 10.99%. The firm had revenue of $1.97 billion during the quarter, compared to analysts' expectations of $1.78 billion. During the same period in the prior year, the company posted $0.37 earnings per share. The company's revenue for the quarter was up 54.6% on a year-over-year basis. Analysts predict that Coterra Energy Inc. will post 1.54 EPS for the current fiscal year.

Coterra Energy Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 28th. Investors of record on Thursday, August 14th were paid a dividend of $0.22 per share. The ex-dividend date was Thursday, August 14th. This represents a $0.88 dividend on an annualized basis and a yield of 3.6%. Coterra Energy's dividend payout ratio is currently 42.11%.

About Coterra Energy

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.