Coterra Energy Inc. (NYSE:CTRA) Shares Sold by Integrated Wealth Concepts LLC

Integrated Wealth Concepts LLC cut its holdings in shares of Coterra Energy Inc. (NYSE:CTRA) by 7.2% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 14,942 shares of the company’s stock after selling 1,155 shares during the period. Integrated Wealth Concepts LLC’s holdings in Coterra Energy were worth $358,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. increased its holdings in shares of Coterra Energy by 1.4% in the third quarter. Charles Schwab Investment Management Inc. now owns 22,156,361 shares of the company’s stock valued at $530,645,000 after buying an additional 305,626 shares in the last quarter. Hartford Funds Management Co LLC acquired a new position in shares of Coterra Energy in the 3rd quarter worth $575,000. HITE Hedge Asset Management LLC lifted its holdings in shares of Coterra Energy by 406.3% during the third quarter. HITE Hedge Asset Management LLC now owns 707,729 shares of the company’s stock valued at $16,950,000 after purchasing an additional 567,934 shares during the last quarter. Raymond James & Associates lifted its holdings in shares of Coterra Energy by 5.0% during the second quarter. Raymond James & Associates now owns 1,187,663 shares of the company’s stock valued at $31,675,000 after purchasing an additional 56,748 shares during the last quarter. Finally, MQS Management LLC acquired a new position in shares of Coterra Energy in the 3rd quarter valued at $776,000. 87.92% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms have issued reports on CTRA. Mizuho boosted their price objective on Coterra Energy from $36.00 to $37.00 and gave the stock an “outperform” rating in a report on Friday, November 1st. JPMorgan Chase & Co. reduced their price target on shares of Coterra Energy from $31.00 to $26.00 and set an “overweight” rating for the company in a research report on Thursday, September 12th. Scotiabank lowered their price objective 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. Roth Capital raised shares of Coterra Energy from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, August 27th. Finally, Stephens lifted their price target on Coterra Energy from $28.00 to $29.00 and gave the company an “overweight” rating in a report on Friday, November 1st. Two analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $32.47.

Insider Transactions at Coterra Energy

In other Coterra Energy news, SVP Kevin William Smith sold 29,643 shares of the firm’s stock in a transaction that occurred on Tuesday, December 3rd. The stock was sold at an average price of $26.16, for a total value of $775,460.88. Following the sale, the senior vice president now owns 77,075 shares of the company’s stock, valued at $2,016,282. This trade represents a 27.78 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, SVP Adam M. Vela sold 16,435 shares of the company’s stock in a transaction that occurred on 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 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 disclosure for this sale can be found here. 1.70% of the stock is owned by corporate insiders.

Coterra Energy Stock Up 2.2 %

CTRA stock opened at $25.36 on Thursday. The company has a current ratio of 1.61, a quick ratio of 1.56 and a debt-to-equity ratio of 0.16. The firm has a market cap of $18.68 billion, a PE ratio of 15.28, a PEG ratio of 1.62 and a beta of 0.27. Coterra Energy Inc. has a 1 year low of $22.30 and a 1 year high of $28.90. The company has a fifty day simple moving average of $24.97 and a 200 day simple moving average of $25.25.

Coterra Energy (NYSE:CTRA) last announced its quarterly earnings results on Thursday, October 31st. The company reported $0.32 earnings per share for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.03). Coterra Energy had a return on equity of 9.38% and a net margin of 21.91%. The company had revenue of $1.36 billion during the quarter, compared to analyst estimates of $1.28 billion. During the same period in the prior year, the firm earned $0.47 EPS. Coterra Energy’s quarterly revenue was up .2% on a year-over-year basis. Sell-side analysts anticipate that Coterra Energy Inc. will post 1.53 EPS for the current fiscal year.

Coterra Energy Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, November 27th. Stockholders of record on Thursday, November 14th were given a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a dividend yield of 3.31%. The ex-dividend date was Thursday, November 14th. Coterra Energy’s dividend 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.