Addison Capital Co Sells 691 Shares of Coterra Energy Inc. (NYSE:CTRA)

Addison Capital Co decreased its position in shares of Coterra Energy Inc. (NYSE:CTRA) by 0.8% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 84,775 shares of the company’s stock after selling 691 shares during the quarter. Addison Capital Co’s holdings in Coterra Energy were worth $2,030,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Fortitude Family Office LLC increased its position in Coterra Energy by 154.9% in the 2nd quarter. Fortitude Family Office LLC now owns 933 shares of the company’s stock valued at $25,000 after acquiring an additional 567 shares during the period. Larson Financial Group LLC increased its holdings in Coterra Energy by 98.0% in the second quarter. Larson Financial Group LLC now owns 1,081 shares of the company’s stock valued at $29,000 after purchasing an additional 535 shares during the period. Central Pacific Bank Trust Division acquired a new position in Coterra Energy during the 1st quarter worth about $44,000. Harbor Investment Advisory LLC lifted its holdings in Coterra Energy by 869.3% during the 1st quarter. Harbor Investment Advisory LLC now owns 1,609 shares of the company’s stock worth $45,000 after buying an additional 1,443 shares during the period. Finally, Northwest Investment Counselors LLC acquired a new stake in shares of Coterra Energy in the first quarter valued at about $47,000. Institutional investors own 87.92% of the company’s stock.

Coterra Energy Stock Performance

Shares of CTRA opened at $24.02 on Friday. The firm has a market capitalization of $17.88 billion, a P/E ratio of 13.91, a P/E/G ratio of 1.41 and a beta of 0.22. Coterra Energy Inc. has a 52 week low of $22.30 and a 52 week high of $29.79. The stock has a 50 day moving average price of $23.87 and a two-hundred day moving average price of $26.02. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.38 and a current ratio of 1.40.

Coterra Energy (NYSE:CTRA) last announced its quarterly earnings results on Thursday, August 1st. The company reported $0.37 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.39 by ($0.02). Coterra Energy had a return on equity of 10.48% and a net margin of 23.18%. The company had revenue of $1.27 billion for the quarter, compared to the consensus estimate of $1.32 billion. During the same quarter last year, the company posted $0.38 EPS. The company’s quarterly revenue was up 7.3% compared to the same quarter last year. Equities analysts forecast that Coterra Energy Inc. will post 1.72 earnings per share for the current fiscal year.

Coterra Energy Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, August 29th. Investors of record on Thursday, August 15th were given a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 3.50%. The ex-dividend date was Thursday, August 15th. Coterra Energy’s payout ratio is currently 48.55%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the company. BMO Capital Markets raised Coterra Energy to a “hold” rating in a research note on Wednesday, July 3rd. UBS Group dropped their price target on shares of Coterra Energy from $34.00 to $31.00 and set a “buy” rating on the stock in a research report on Wednesday, September 18th. Piper Sandler decreased their price objective on shares of Coterra Energy from $39.00 to $31.00 and set an “overweight” rating for the company in a research report on Thursday, August 15th. Morgan Stanley dropped their target price on shares of Coterra Energy from $29.00 to $27.00 and set an “equal weight” rating on the stock in a report on Monday, September 16th. Finally, Roth Capital upgraded Coterra Energy from a “hold” rating to a “strong-buy” rating in a report on Tuesday, August 27th. Two research 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. Based on data from MarketBeat, Coterra Energy has an average rating of “Moderate Buy” and a consensus price target of $32.06.

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.