Empower Advisory Group LLC Reduces Stake in Coterra Energy Inc. (NYSE:CTRA)

Empower Advisory Group LLC reduced its holdings in Coterra Energy Inc. (NYSE:CTRAFree Report) by 96.7% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 73,070 shares of the company’s stock after selling 2,140,259 shares during the quarter. Empower Advisory Group LLC’s holdings in Coterra Energy were worth $1,977,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the business. Vanguard Group Inc. purchased a new position in Coterra Energy in the 1st quarter valued at approximately $2,472,575,000. State Street Corp purchased a new stake in shares of Coterra Energy in the first quarter valued at $1,493,855,000. Northern Trust Corp purchased a new stake in Coterra Energy during the first quarter valued at about $300,998,000. Invesco Ltd. purchased a new stake in Coterra Energy during the first quarter valued at about $169,781,000. Finally, Charles Schwab Investment Management Inc. purchased a new stake in Coterra Energy during the first quarter valued at about $151,999,000. 90.54% of the stock is owned by institutional investors and hedge funds.

Coterra Energy Price Performance

Shares of CTRA traded up $0.03 during trading hours on Friday, hitting $25.29. 7,024,651 shares of the company were exchanged, compared to its average volume of 6,862,256. The firm has a fifty day simple moving average of $25.52 and a 200-day simple moving average of $26.83. The company has a market capitalization of $19.02 billion, a PE ratio of 8.68, a PEG ratio of 0.20 and a beta of 0.23. Coterra Energy Inc. has a one year low of $22.25 and a one year high of $29.89. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.04 and a quick ratio of 1.01.

Coterra Energy (NYSE:CTRAGet Free Report) last released its earnings results on Monday, November 6th. The company reported $0.47 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.44 by $0.03. Coterra Energy had a return on equity of 17.14% and a net margin of 33.97%. The company had revenue of $1.36 billion during the quarter, compared to analyst estimates of $1.38 billion. As a group, sell-side analysts predict that Coterra Energy Inc. will post 2.31 earnings per share for the current year.

Coterra Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, November 30th. Investors of record on Thursday, November 16th were issued a dividend of $0.20 per share. The ex-dividend date of this dividend was Wednesday, November 15th. This represents a $0.80 annualized dividend and a dividend yield of 3.16%. Coterra Energy’s dividend payout ratio is 27.49%.

Analysts Set New Price Targets

Several brokerages have recently weighed in on CTRA. UBS Group raised Coterra Energy from a “neutral” rating to a “buy” rating and decreased their target price for the stock from $33.00 to $31.00 in a research report on Thursday, December 14th. Susquehanna upgraded Coterra Energy from a “neutral” rating to a “positive” rating and dropped their price target for the stock from $31.00 to $30.00 in a research report on Friday. Raymond James increased their price target on Coterra Energy from $32.00 to $34.00 and gave the stock an “outperform” rating in a research report on Wednesday. Stephens restated an “overweight” rating and issued a $39.00 target price on shares of Coterra Energy in a research report on Tuesday. Finally, Truist Financial increased their price target on Coterra Energy from $29.00 to $30.00 and gave the company a “hold” rating in a research note on Wednesday, November 8th. Four investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat, Coterra Energy currently has a consensus rating of “Moderate Buy” and an average target price of $32.07.

View Our Latest Analysis on CTRA

Coterra Energy Company 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 primarily focuses on the Marcellus Shale with approximately 183,000 net acres in the dry gas window of the play located in Susquehanna County, Pennsylvania.

See Also

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Institutional Ownership by Quarter for Coterra Energy (NYSE:CTRA)

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