First Trust Advisors LP Cuts Holdings in Coterra Energy Inc. $CTRA

First Trust Advisors LP decreased its stake in Coterra Energy Inc. (NYSE:CTRA) by 10.7% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,459,430 shares of the company’s stock after selling 416,393 shares during the period. First Trust Advisors LP owned about 0.45% of Coterra Energy worth $81,816,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in CTRA. Beddow Capital Management Inc. increased its position in shares of Coterra Energy by 3.8% during the 3rd quarter. Beddow Capital Management Inc. now owns 198,994 shares of the company’s stock valued at $4,706,000 after purchasing an additional 7,200 shares during the last quarter. Barclays PLC lifted its position in Coterra Energy by 12.0% in the 3rd quarter. Barclays PLC now owns 2,078,344 shares of the company’s stock worth $49,153,000 after buying an additional 223,445 shares during the last quarter. Orion Porfolio Solutions LLC boosted its stake in Coterra Energy by 1.5% in the third quarter. Orion Porfolio Solutions LLC now owns 113,694 shares of the company’s stock worth $2,689,000 after buying an additional 1,647 shares in the last quarter. Integrated Quantitative Investments LLC purchased a new stake in Coterra Energy in the third quarter worth approximately $213,000. Finally, Advisory Alpha LLC grew its position in Coterra Energy by 56.0% during the third quarter. Advisory Alpha LLC now owns 12,303 shares of the company’s stock valued at $285,000 after acquiring an additional 4,415 shares during the last quarter. Hedge funds and other institutional investors own 87.92% of the company’s stock.

Coterra Energy Stock Up 0.4%

Shares of NYSE CTRA opened at $31.16 on Tuesday. The firm’s fifty day moving average is $28.61 and its 200 day moving average is $26.16. Coterra Energy Inc. has a 52 week low of $22.33 and a 52 week high of $32.67. The company has a quick ratio of 1.16, a current ratio of 1.19 and a debt-to-equity ratio of 0.24. The company has a market cap of $23.66 billion, a price-to-earnings ratio of 13.67, a PEG ratio of 0.77 and a beta of 0.37.

Coterra Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 25th. Stockholders of record on Wednesday, March 11th will be paid a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a dividend yield of 2.8%. The ex-dividend date of this dividend is Wednesday, March 11th. Coterra Energy’s dividend payout ratio is 38.60%.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on CTRA. Jefferies Financial Group boosted their price objective on shares of Coterra Energy from $26.00 to $28.00 in a report on Monday. Johnson Rice reduced their target price on shares of Coterra Energy from $38.00 to $37.00 in a report on Friday, December 5th. Roth Mkm set a $28.00 target price on shares of Coterra Energy and gave the stock a “neutral” rating in a research report on Tuesday, February 3rd. UBS Group upped their price target on shares of Coterra Energy from $33.00 to $38.00 and gave the company a “buy” rating in a research report on Thursday, March 5th. Finally, Weiss Ratings raised Coterra Energy from a “hold (c+)” rating to a “buy (b)” rating in a research note on Monday, March 2nd. Fifteen investment analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Coterra Energy has an average rating of “Moderate Buy” and a consensus target price of $34.00.

About Coterra Energy

Coterra Energy (NYSE: CTRA) is an independent oil and natural gas exploration and production company focused on the development, production and optimization of onshore hydrocarbon resources in the United States. The company’s operations center on the exploration, drilling, completion and production of crude oil, natural gas and natural gas liquids (NGLs), with an emphasis on maximizing operational efficiency and capital discipline across its asset base.

Its business activities include identifying and developing resource-rich acreage, operating producing wells, managing reservoir performance and marketing produced hydrocarbons to a range of midstream and energy customers.