Price T Rowe Associates Inc. MD Lowers Holdings in Coterra Energy Inc. (NYSE:CTRA)

Price T Rowe Associates Inc. MD reduced its position in shares of Coterra Energy Inc. (NYSE:CTRA – Get Rating) by 73.5% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,308,175 shares of the company’s stock after selling 6,401,909 shares during the period. Price T Rowe Associates Inc. MD’s holdings in Coterra Energy were worth $60,291,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in CTRA. Financial Gravity Asset Management Inc. bought a new stake in shares of Coterra Energy during the 3rd quarter worth $2,913,000. Guardian Wealth Advisors LLC bought a new stake in Coterra Energy during the third quarter worth about $30,000. Achmea Investment Management B.V. purchased a new position in shares of Coterra Energy in the 1st quarter worth about $41,000. McIlrath & Eck LLC increased its position in shares of Coterra Energy by 703.5% during the 3rd quarter. McIlrath & Eck LLC now owns 1,599 shares of the company’s stock valued at $42,000 after purchasing an additional 1,400 shares during the last quarter. Finally, TFC Financial Management raised its holdings in shares of Coterra Energy by 3,018.9% during the 3rd quarter. TFC Financial Management now owns 1,653 shares of the company’s stock valued at $43,000 after buying an additional 1,600 shares in the last quarter. Institutional investors own 94.72% of the company’s stock.

Coterra Energy Stock Down 0.5 %

Shares of NYSE CTRA opened at $24.47 on Tuesday. The firm has a fifty day simple moving average of $24.79 and a two-hundred day simple moving average of $26.82. The firm has a market capitalization of $18.80 billion, a PE ratio of 4.79, a price-to-earnings-growth ratio of 0.16 and a beta of 0.25. The company has a current ratio of 1.85, a quick ratio of 1.80 and a debt-to-equity ratio of 0.17. Coterra Energy Inc. has a 12 month low of $21.98 and a 12 month high of $36.55.

Coterra Energy (NYSE:CTRA – Get Rating) last released its quarterly earnings results on Wednesday, February 22nd. The company reported $1.14 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.10 by $0.04. The company had revenue of $2.28 billion during the quarter, compared to the consensus estimate of $2.15 billion. Coterra Energy had a net margin of 44.91% and a return on equity of 31.29%. Equities analysts expect that Coterra Energy Inc. will post 2.8 earnings per share for the current year.

Coterra Energy Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, March 30th. Investors of record on Thursday, March 16th will be given a dividend of $0.57 per share. The ex-dividend date is Wednesday, March 15th. This represents a $2.28 annualized dividend and a dividend yield of 9.32%. Coterra Energy’s dividend payout ratio is presently 15.66%.

Wall Street Analyst Weigh In

A number of research analysts have commented on CTRA shares. Citigroup cut shares of Coterra Energy from a “neutral” rating to a “sell” rating and reduced their price target for the company from $27.00 to $23.00 in a research report on Wednesday, December 7th. Barclays decreased their target price on shares of Coterra Energy from $30.00 to $26.00 and set an “equal weight” rating on the stock in a research report on Monday, January 23rd. Piper Sandler cut their price target on shares of Coterra Energy from $32.00 to $30.00 and set a “neutral” rating for the company in a research report on Tuesday, March 7th. Mizuho decreased their price objective on Coterra Energy from $40.00 to $38.00 in a report on Friday. Finally, Roth Capital restated a “neutral” rating on shares of Coterra Energy in a research report on Wednesday, February 22nd. One analyst has rated the stock with a sell rating, sixteen have given a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $30.25.

About Coterra Energy

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Coterra Energy Inc is a diversified energy company, which engages in the exploration, development, and production of oil and natural gas properties. Its portfolio includes projects in the Permian Basin, the Marcellus Shale, and the Anadarko Basin. The company was renamed to Coterra Energy Inc on October 1, 2021 in connection with the merger involving Cabot Oil & Gas Corp.