Manning & Napier Advisors LLC Has $3.26 Million Stock Position in Coterra Energy Inc. $CTRA

Manning & Napier Advisors LLC lessened its position in shares of Coterra Energy Inc. (NYSE:CTRA) by 44.5% during the 3rd quarter, Holdings Channel.com reports. The firm owned 137,795 shares of the company’s stock after selling 110,588 shares during the quarter. Manning & Napier Advisors LLC’s holdings in Coterra Energy were worth $3,259,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Bogart Wealth LLC acquired a new position in shares of Coterra Energy in the second quarter valued at $26,000. REAP Financial Group LLC increased its holdings in Coterra Energy by 190.1% in the 2nd quarter. REAP Financial Group LLC now owns 1,108 shares of the company’s stock valued at $28,000 after buying an additional 726 shares during the period. Tobam raised its stake in shares of Coterra Energy by 50.9% in the 2nd quarter. Tobam now owns 1,823 shares of the company’s stock valued at $46,000 after buying an additional 615 shares in the last quarter. CYBER HORNET ETFs LLC bought a new position in shares of Coterra Energy during the 2nd quarter worth about $50,000. Finally, Steigerwald Gordon & Koch Inc. acquired a new stake in shares of Coterra Energy during the 3rd quarter valued at about $50,000. 87.92% of the stock is currently owned by institutional investors.

Coterra Energy Trading Up 0.5%

Shares of CTRA opened at $25.32 on Thursday. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.98 and a current ratio of 1.02. The company has a market cap of $19.27 billion, a price-to-earnings ratio of 11.67, a PEG ratio of 0.41 and a beta of 0.36. The stock has a fifty day moving average price of $26.09 and a two-hundred day moving average price of $24.74. Coterra Energy Inc. has a 52-week low of $22.33 and a 52-week high of $29.95.

Coterra Energy (NYSE:CTRA) last announced its earnings results on Monday, November 3rd. The company reported $0.41 EPS for the quarter, missing the consensus estimate of $0.43 by ($0.02). Coterra Energy had a return on equity of 11.23% and a net margin of 23.25%.The business had revenue of $1.82 billion for the quarter, compared to the consensus estimate of $1.83 billion. During the same quarter in the previous year, the company posted $0.32 EPS. Coterra Energy’s revenue for the quarter was up 33.7% on a year-over-year basis. Analysts predict that Coterra Energy Inc. will post 1.54 EPS for the current fiscal year.

Coterra Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, November 26th. Shareholders of record on Thursday, November 13th were given a $0.22 dividend. This represents a $0.88 annualized dividend and a yield of 3.5%. The ex-dividend date was Thursday, November 13th. Coterra Energy’s dividend payout ratio (DPR) is presently 40.55%.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on CTRA. Siebert Williams Shank dropped their price target on shares of Coterra Energy from $35.00 to $32.00 and set a “buy” rating for the company in a research report on Monday, October 13th. Roth Capital reiterated a “buy” rating and issued a $27.00 price objective on shares of Coterra Energy in a research note on Tuesday, November 4th. BMO Capital Markets cut their target price on Coterra Energy from $33.00 to $32.00 and set a “market perform” rating for the company in a research report on Monday, December 15th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Coterra Energy in a research note on Monday, December 29th. Finally, Wolfe Research lowered their price target on Coterra Energy from $36.00 to $35.00 and set an “outperform” rating on the stock in a research report on Tuesday, November 4th. Sixteen research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $32.52.

Coterra Energy Profile

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.