Kovack Advisors Inc. Lowers Stock Holdings in Coterra Energy Inc. (NYSE:CTRA)

Kovack Advisors Inc. cut its holdings in shares of Coterra Energy Inc. (NYSE:CTRA) by 4.9% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 8,791 shares of the company’s stock after selling 451 shares during the period. Kovack Advisors Inc.’s holdings in Coterra Energy were worth $211,000 as of its most recent SEC filing.

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

Coterra Energy Stock Performance

Shares of Coterra Energy stock opened at $25.55 on Friday. The firm’s fifty day simple moving average is $23.95 and its 200-day simple moving average is $25.48. Coterra Energy Inc. has a 12 month low of $22.30 and a 12 month high of $28.90. The stock has a market capitalization of $18.82 billion, a price-to-earnings ratio of 15.39, a PEG ratio of 1.67 and a beta of 0.22. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.61 and a quick ratio of 1.56.

Coterra Energy (NYSE:CTRA) last posted its quarterly earnings data on Thursday, October 31st. The company reported $0.32 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 during the quarter, compared to analyst estimates of $1.28 billion. During the same quarter in the prior year, the firm posted $0.47 earnings per share. The company’s revenue for the quarter was up .2% compared to the same quarter last year. As a group, equities analysts forecast that Coterra Energy Inc. will post 1.53 earnings per share for the current year.

Coterra Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 27th. Shareholders of record on Thursday, November 14th will be paid a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a yield of 3.29%. The ex-dividend date of this dividend is Thursday, November 14th. Coterra Energy’s dividend payout ratio is presently 50.60%.

Analyst Ratings Changes

A number of equities research analysts have commented on CTRA shares. Stephens increased their price objective on shares of Coterra Energy from $28.00 to $29.00 and gave the company an “overweight” rating in a research report on Friday, November 1st. Roth Capital raised Coterra Energy from a “hold” rating to a “strong-buy” rating in a report on Tuesday, August 27th. UBS Group lifted their price target on Coterra Energy from $31.00 to $35.00 and gave the stock a “buy” rating in a report on Friday. Susquehanna increased their price objective on Coterra Energy from $30.00 to $33.00 and gave the company a “positive” rating in a report on Thursday. Finally, JPMorgan Chase & Co. decreased their target price on Coterra Energy from $31.00 to $26.00 and set an “overweight” rating for the company in a research note on Thursday, September 12th. Two research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $32.41.

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.