Prime Capital Investment Advisors LLC Sells 999 Shares of Coterra Energy Inc. (NYSE:CTRA)

Prime Capital Investment Advisors LLC trimmed its holdings in shares of Coterra Energy Inc. (NYSE:CTRA) by 4.5% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 21,382 shares of the company’s stock after selling 999 shares during the quarter. Prime Capital Investment Advisors LLC’s holdings in Coterra Energy were worth $512,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Bank of Montreal Can increased its stake in shares of Coterra Energy by 160.1% in the 2nd quarter. Bank of Montreal Can now owns 2,898,876 shares of the company’s stock worth $80,154,000 after purchasing an additional 1,784,192 shares in the last quarter. Marshall Wace LLP grew its holdings in Coterra Energy by 5,325.5% during the second quarter. Marshall Wace LLP now owns 1,148,569 shares of the company’s stock valued at $30,632,000 after purchasing an additional 1,127,399 shares during the period. Clearbridge Investments LLC bought a new position in shares of Coterra Energy in the first quarter worth about $28,967,000. American Century Companies Inc. raised its stake in shares of Coterra Energy by 29.1% in the second quarter. American Century Companies Inc. now owns 4,498,227 shares of the company’s stock worth $119,968,000 after buying an additional 1,013,107 shares during the period. Finally, Earnest Partners LLC lifted its position in shares of Coterra Energy by 37.5% during the 1st quarter. Earnest Partners LLC now owns 1,918,569 shares of the company’s stock valued at $53,490,000 after buying an additional 523,480 shares in the last quarter. 87.92% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

CTRA has been the topic of several analyst reports. Mizuho lifted their price target on shares of Coterra Energy from $36.00 to $37.00 and gave the company an “outperform” rating in a report on Friday, November 1st. Morgan Stanley upped their target price on shares of Coterra Energy from $27.00 to $29.00 and gave the stock an “equal weight” rating in a report on Thursday. Piper Sandler increased their price target on Coterra Energy from $32.00 to $35.00 and gave the stock an “overweight” rating in a research note on Thursday. Roth Mkm upgraded Coterra Energy from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $25.00 to $29.00 in a research report on Tuesday, August 27th. Finally, Roth Capital raised Coterra Energy from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, August 27th. Two investment 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. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $32.41.

Coterra Energy Stock Performance

Coterra Energy stock opened at $25.55 on Friday. The company’s 50-day moving average price is $23.95 and its 200-day moving average price is $25.48. The company has a quick ratio of 1.56, a current ratio of 1.61 and a debt-to-equity ratio of 0.16. The company has a market cap of $18.82 billion, a PE ratio of 15.39, a price-to-earnings-growth ratio of 1.67 and a beta of 0.22. Coterra Energy Inc. has a twelve month low of $22.30 and a twelve month high of $28.90.

Coterra Energy (NYSE:CTRA) last issued its quarterly earnings data on Thursday, October 31st. The company reported $0.32 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.03). The company had revenue of $1.36 billion for the quarter, compared to analysts’ expectations of $1.28 billion. Coterra Energy had a net margin of 21.91% and a return on equity of 9.38%. The company’s revenue for the quarter was up .2% on a year-over-year basis. During the same quarter last year, the company earned $0.47 earnings per share. On average, equities research analysts forecast that Coterra Energy Inc. will post 1.53 EPS for the current fiscal year.

Coterra Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 27th. Shareholders of record on Thursday, November 14th will be paid a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a yield of 3.29%. The ex-dividend date is Thursday, November 14th. Coterra Energy’s payout ratio is 50.60%.

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.