Ferguson Wellman Capital Management Inc. Sells 1,460 Shares of Coterra Energy Inc. (NYSE:CTRA)

Ferguson Wellman Capital Management Inc. lessened its position in shares of Coterra Energy Inc. (NYSE:CTRA) by 9.2% during the third quarter, HoldingsChannel.com reports. The fund owned 14,453 shares of the company’s stock after selling 1,460 shares during the period. Ferguson Wellman Capital Management Inc.’s holdings in Coterra Energy were worth $346,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Victory Capital Management Inc. increased its holdings in shares of Coterra Energy by 1.2% in the third quarter. Victory Capital Management Inc. now owns 16,963,084 shares of the company’s stock worth $406,266,000 after purchasing an additional 195,966 shares during the period. King Luther Capital Management Corp grew its position in Coterra Energy by 4.4% during the second quarter. King Luther Capital Management Corp now owns 6,783,690 shares of the company’s stock worth $180,921,000 after buying an additional 285,774 shares in the last quarter. Disciplined Growth Investors Inc. MN raised its holdings in shares of Coterra Energy by 1.0% in the 2nd quarter. Disciplined Growth Investors Inc. MN now owns 5,063,920 shares of the company’s stock valued at $135,055,000 after acquiring an additional 51,249 shares in the last quarter. American Century Companies Inc. boosted its position in shares of Coterra Energy by 29.1% during the 2nd quarter. American Century Companies Inc. now owns 4,498,227 shares of the company’s stock valued at $119,968,000 after acquiring an additional 1,013,107 shares during the last quarter. Finally, Equity Investment Corp grew its holdings in shares of Coterra Energy by 0.7% during the second quarter. Equity Investment Corp now owns 3,227,678 shares of the company’s stock worth $86,082,000 after purchasing an additional 22,017 shares in the last quarter. 87.92% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts have commented on CTRA shares. UBS Group cut their price target on shares of Coterra Energy from $34.00 to $31.00 and set a “buy” rating for the company in a research note on Wednesday, September 18th. Truist Financial increased their target price on Coterra Energy from $31.00 to $33.00 and gave the company a “buy” rating in a research note on Thursday. Wells Fargo & Company lowered their price target on Coterra Energy from $34.00 to $32.00 and set an “overweight” rating on the stock in a research report on Tuesday, October 1st. Roth Capital upgraded Coterra Energy from a “hold” rating to a “strong-buy” rating in a report on Tuesday, August 27th. Finally, Piper Sandler raised their price objective on Coterra Energy from $32.00 to $35.00 and gave the company an “overweight” rating in a report on Thursday. Two investment analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $32.00.

Coterra Energy Price Performance

CTRA stock opened at $25.44 on Friday. The stock has a market capitalization of $18.74 billion, a price-to-earnings ratio of 15.32, a PEG ratio of 1.67 and a beta of 0.22. The firm’s 50-day moving average price is $23.86 and its two-hundred day moving average price is $25.50. The company has a current ratio of 1.61, a quick ratio of 1.56 and a debt-to-equity ratio of 0.16. Coterra Energy Inc. has a 12-month low of $22.30 and a 12-month high of $28.90.

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 business had revenue of $1.36 billion for the quarter, compared to analysts’ expectations of $1.28 billion. During the same quarter in the prior year, the firm earned $0.47 EPS. The firm’s revenue for the quarter was up .2% on a year-over-year basis. As a group, equities analysts predict that Coterra Energy Inc. will post 1.53 earnings per share for the current year.

Coterra Energy Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 27th. Investors of record on Thursday, November 14th will be issued a dividend of $0.21 per share. The ex-dividend date is Thursday, November 14th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 3.30%. Coterra Energy’s dividend payout ratio is presently 50.60%.

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.