Foster & Motley Inc. owns $722,000 in Coterra Energy Inc. (NYSE:CTRA)

Foster & Motley Inc. reduced its holdings in Coterra Energy Inc. (NYSE:CTRA – Free Report) by 6.2% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 27,073 shares of the company’s stock after selling 1,776 shares during the period. Holdings held by Foster & Motley Inc. holdings in Coterra Energy were worth $722,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in CTRA. Fortitude Family Office LLC boosted its stake in Coterra Energy by 154.9% in the second quarter. Fortitude Family Office LLC now owns 933 shares of the company’s stock valued at $25,000 after buying an additional 567 shares during the period. Larson Financial Group LLC boosted its stake in Coterra Energy by 98.0% in the second quarter. Larson Financial Group LLC now owns 1,081 shares of the company’s stock worth $29,000 after acquiring an additional 535 shares in the last quarter. Central Pacific Bank Trust Division purchased a new stake in shares of Coterra Energy in the first quarter worth $44,000. Harbor Investment Advisory LLC boosted its position in Coterra Energy by 869.3% in the first quarter. Harbor Investment Advisory LLC now owns 1,609 shares of the company’s stock valued at $45,000 after buying an additional 1,443 shares in the last quarter. Finally, Northwest Investment Counselors LLC purchased a new position in Coterra Energy in the first quarter valued at approximately $47,000. 87.92% of the shares are held by hedge funds and other institutional investors.

The Wall Street analyst weighs in

CTRA has been the subject of several research reports. BMO Capital Markets upgraded Coterra Energy to a “hold” rating in a report on Wednesday, July 3rd. Roth Capital upgraded shares of Coterra Energy from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, August 27th. Bank of America restated a “buy” rating and set a $34.00 target price on shares of Coterra Energy in a research note on Friday, June 14th. Wolfe Research initiated coverage on shares of Coterra Energy in a research note on Thursday, July 18th. They issued an “outperform” rating and a $35.00 price objective for the company. Finally, Susquehanna cut their price target on shares of Coterra Energy from $33.00 to $30.00 and set a “positive” rating on the stock in a research report on Wednesday. Two analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the company. The stock presently has an average rating of “Moderate Buy” and an average price target of $33.12, based on data from MarketBeat.

Check out our latest report on Coterra Energy

Coterra Energy trades down 2.4%

Shares of CTRA stock opened at $22.92 on Friday. The stock’s 50-day moving average price is $25.24 and its 200-day moving average price is $26.61. The company has a quick ratio of 1.38, a current ratio of 1.40, and a debt-to-equity ratio of 0.16. The firm has a market cap of $17.06 billion, a price-to-earnings ratio of 13.24, a P/E/G ratio of 1.24 and a beta of 0.22. Coterra Energy Inc. has a 12-month low of $22.79 and a 12-month high of $29.89.

Coterra Energy (NYSE:CTRA – Get Your Free Report ) last issued its quarterly earnings data on Thursday, August 1st. The company reported $0.37 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.02). Coterra Energy had a net margin of 23.18% and a return on equity of 10.48%. The firm had revenue of $1.27 billion for the quarter, compared to the consensus estimate of $1.32 billion. In the same quarter last year, the firm posted earnings of $0.38 per share. The company’s revenue for the quarter was up 7.3% year over year. As a group, research analysts predict that Coterra Energy Inc. will post 1.95 earnings per share for the current year.

Coterra Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 29th. Stockholders of record on Thursday, August 15th were given a dividend of $0.21 per share. The ex-dividend date was Thursday, August 15. This represents an annualized dividend of $0.84 and a dividend yield of 3.66%. Coterra Energy’s dividend payout ratio (DPR) is currently 48.55%.

Coterra energy profile

(Free report)

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 play’s dry gas window located in Susquehanna County, Pennsylvania; Permian Basin properties of approximately 296,000 net acres located in West Texas and Southeastern New Mexico; and Anadarko Basin properties with approximately 182,000 net acres located in Oklahoma.

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