JT Stratford LLC Sells 17,277 Shares of Coterra Energy Inc. $CTRA

JT Stratford LLC decreased its stake in Coterra Energy Inc. (NYSE:CTRA) by 42.4% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 23,476 shares of the company’s stock after selling 17,277 shares during the quarter. JT Stratford LLC’s holdings in Coterra Energy were worth $555,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. QRG Capital Management Inc. grew its holdings in Coterra Energy by 67.0% during the third quarter. QRG Capital Management Inc. now owns 143,188 shares of the company’s stock valued at $3,386,000 after purchasing an additional 57,461 shares during the period. Ashton Thomas Private Wealth LLC boosted its position in shares of Coterra Energy by 60.7% during the third quarter. Ashton Thomas Private Wealth LLC now owns 273,650 shares of the company’s stock worth $6,472,000 after purchasing an additional 103,381 shares in the last quarter. Summit Global Investments bought a new position in shares of Coterra Energy during the third quarter worth $1,086,000. Mitsubishi UFJ Trust & Banking Corp increased its position in shares of Coterra Energy by 36.2% in the 3rd quarter. Mitsubishi UFJ Trust & Banking Corp now owns 830,392 shares of the company’s stock valued at $19,639,000 after buying an additional 220,688 shares in the last quarter. Finally, Vanguard Group Inc. raised its stake in Coterra Energy by 4.0% during the 3rd quarter. Vanguard Group Inc. now owns 98,991,567 shares of the company’s stock worth $2,341,151,000 after buying an additional 3,781,606 shares during the period. Institutional investors own 87.92% of the company’s stock.

Analyst Ratings Changes

A number of research firms have issued reports on CTRA. TD Cowen decreased their target price on Coterra Energy from $33.00 to $32.00 and set a “buy” rating for the company in a research note on Tuesday, February 10th. Roth Mkm set a $28.00 price objective on Coterra Energy and gave the company a “neutral” rating in a report on Tuesday, February 3rd. Susquehanna increased their target price on Coterra Energy from $32.00 to $34.00 and gave the stock a “positive” rating in a research note on Tuesday, February 3rd. Siebert Williams Shank lifted their price target on shares of Coterra Energy from $32.00 to $35.00 and gave the company a “buy” rating in a research note on Monday, January 26th. Finally, Scotiabank reiterated a “sector perform” rating and issued a $31.00 price target on shares of Coterra Energy in a report on Tuesday, February 3rd. Sixteen analysts have rated the stock with a Buy rating, six have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $33.95.

Coterra Energy Trading Up 2.0%

NYSE CTRA opened at $31.15 on Friday. Coterra Energy Inc. has a 52 week low of $22.33 and a 52 week high of $32.67. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.98 and a current ratio of 1.19. The stock’s 50 day moving average price is $28.40 and its two-hundred day moving average price is $26.01. The stock has a market capitalization of $23.65 billion, a price-to-earnings ratio of 13.66, a PEG ratio of 0.76 and a beta of 0.38.

Coterra Energy Announces Dividend

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

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.