True Wealth Design LLC Reduces Stake in Coterra Energy Inc. (NYSE:CTRA)

True Wealth Design LLC cut its holdings in shares of Coterra Energy Inc. (NYSE:CTRA) by 94.7% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 1,617 shares of the company’s stock after selling 29,016 shares during the period. True Wealth Design LLC’s holdings in Coterra Energy were worth $39,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in CTRA. B. Riley Wealth Advisors Inc. increased its position in Coterra Energy by 8.4% during the 1st quarter. B. Riley Wealth Advisors Inc. now owns 15,621 shares of the company’s stock valued at $431,000 after purchasing an additional 1,215 shares during the period. Cetera Investment Advisers increased its position in shares of Coterra Energy by 283.4% during the first quarter. Cetera Investment Advisers now owns 209,095 shares of the company’s stock valued at $5,830,000 after buying an additional 154,551 shares during the period. Cetera Advisors LLC raised its stake in Coterra Energy by 88.0% in the first quarter. Cetera Advisors LLC now owns 58,676 shares of the company’s stock worth $1,636,000 after buying an additional 27,463 shares in the last quarter. EverSource Wealth Advisors LLC lifted its holdings in Coterra Energy by 31.0% in the first quarter. EverSource Wealth Advisors LLC now owns 2,351 shares of the company’s stock worth $64,000 after buying an additional 557 shares during the period. Finally, GAMMA Investing LLC boosted its position in Coterra Energy by 61.3% during the 2nd quarter. GAMMA Investing LLC now owns 11,041 shares of the company’s stock valued at $294,000 after acquiring an additional 4,195 shares in the last quarter. Institutional investors own 87.92% of the company’s stock.

Insider Buying and Selling at Coterra Energy

In other Coterra Energy news, SVP Adam M. Vela sold 16,435 shares of the firm’s stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of $26.76, for a total value of $439,800.60. Following the transaction, the senior vice president now directly owns 72,409 shares of the company’s stock, valued at approximately $1,937,664.84. This trade represents a 18.50 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 1.70% of the company’s stock.

Coterra Energy Stock Up 0.1 %

CTRA stock opened at $26.72 on Monday. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.61 and a quick ratio of 1.56. Coterra Energy Inc. has a 1-year low of $22.30 and a 1-year high of $28.90. The stock has a market capitalization of $19.68 billion, a P/E ratio of 16.10, a P/E/G ratio of 1.74 and a beta of 0.22. The business has a fifty day moving average price of $24.71 and a 200-day moving average price of $25.37.

Coterra Energy (NYSE:CTRA) last announced its quarterly earnings results 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). Coterra Energy had a net margin of 21.91% and a return on equity of 9.38%. The company had revenue of $1.36 billion for the quarter, compared to analysts’ expectations of $1.28 billion. During the same period in the previous year, the business earned $0.47 EPS. The business’s revenue was up .2% compared to the same quarter last year. Equities analysts forecast that Coterra Energy Inc. will post 1.53 earnings per share for the current fiscal year.

Coterra Energy Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, November 27th. Shareholders of record on Thursday, November 14th were given a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a yield of 3.14%. The ex-dividend date of this dividend was Thursday, November 14th. Coterra Energy’s dividend payout ratio (DPR) is presently 50.60%.

Wall Street Analysts Forecast Growth

CTRA has been the subject of a number of research analyst reports. Piper Sandler raised their target price on Coterra Energy from $32.00 to $35.00 and gave the company an “overweight” rating in a research note on Thursday, November 14th. Morgan Stanley raised their price objective on Coterra Energy from $27.00 to $29.00 and gave the company an “equal weight” rating in a research report on Thursday, November 14th. Scotiabank reduced their target price on shares of Coterra Energy from $35.00 to $32.00 and set a “sector outperform” rating on the stock in a research report on Thursday, October 10th. Susquehanna lifted their price target on shares of Coterra Energy from $30.00 to $33.00 and gave the company a “positive” rating in a research report on Thursday, November 14th. Finally, Barclays upped their price objective on shares of Coterra Energy from $31.00 to $33.00 and gave the stock an “overweight” rating in a report on Thursday, November 14th. Two investment analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Coterra Energy has a consensus rating of “Moderate Buy” and an average price target of $32.47.

Coterra Energy Company 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.