Leeward Investments LLC MA Reduces Stake in Coterra Energy Inc.

Leeward Investments LLC MA has recently reduced its investment in Coterra Energy Inc. (NYSE:CTRA) by 20.6% during the third quarter, as indicated in its latest Form 13F filing with the Securities and Exchange Commission (SEC). Following this sale, Leeward now holds 368,405 shares of Coterra's stock, having sold 95,525 shares during the quarter. At the end of this period, its holdings in Coterra Energy were valued at approximately $8,823,000.

Several other institutional investors have also made changes to their positions in Coterra Energy. For instance, King Luther Capital Management Corp increased its stake by 4.4% in the second quarter, bringing its total to 6,783,690 shares worth $180,921,000 after acquiring an additional 285,774 shares. Disciplined Growth Investors Inc. MN also grew its investment by 1.0%, now owning 5,063,920 shares valued at $135,055,000 after purchasing an extra 51,249 shares. Furthermore, American Century Companies Inc. escalated its holdings by 29.1%, now possessing 4,498,227 shares worth $119,968,000, following the acquisition of 1,013,107 additional shares.

Equity Investment Corp and Captrust Financial Advisors have also increased their stakes by 0.7% and 4.6%, respectively, over the last two quarters. Currently, institutional investors collectively own 87.92% of Coterra Energy’s shares, highlighting substantial institutional interest.

Analysts Update Price Targets

Analysts have recently adjusted their price targets for Coterra Energy. Truist Financial reduced its target from $34.00 to $31.00, maintaining a "buy" rating. In contrast, Roth Capital upgraded the stock from a "hold" to a "strong buy" through a report shared in late August. Additionally, Barclays lowered its price target to $31.00 from $33.00 and maintained an "overweight" rating. Pip Sandler retained its "overweight" rating while slightly increasing the price target to $32.00. Roth MKM has also upgraded Coterra Energy shares from a "neutral" rating to "buy" and raised its price goal from $25.00 to $29.00.

Overall, analysts' outlook on Coterra Energy appears positive, with a consensus rating of "Moderate Buy" and an average target price of $31.29 according to MarketBeat.com. Sixteen analysts recommend buying the stock, while two have given it a hold rating, and one has assigned a strong buy designation.

Coterra Energy Stock Performance

As of the latest trading session, the stock price of Coterra Energy saw a slight decline of 0.6%, opening at $24.41. Coterra Energy boasts a market capitalization of $17.98 billion. The stock currently has a price-to-earnings ratio of 14.70 and a price-to-earnings-to-growth ratio of 1.42, along with a beta of 0.22. The company's debt-to-equity ratio stands at 0.16. Coterra Energy has a current ratio of 1.61 and a quick ratio of 1.38. Over the last year, its shares traded between a low of $22.30 and a high of $28.90, with a fifty-day moving average price at $23.76 and a two-hundred-day moving average at $25.60.

Coterra Energy is expected to release its quarterly earnings data on October 31st. Analysts anticipate that the company will report an earnings per share (EPS) of $0.32, which falls short of consensus estimates of $0.35. Revenue expectations for the quarter are set at $1.36 billion, slightly above projected estimates of $1.28 billion, showcasing a year-over-year revenue growth of 0.2%. In the same quarter last year, the company reported an EPS of $0.47. Analysts predict that Coterra Energy will achieve an EPS of 1.62 for the current fiscal year.

Dividend Announcement by Coterra Energy

Coterra Energy has also made headlines by announcing a quarterly dividend to be distributed on November 27th. Shareholders recorded prior to November 14th will receive a dividend of $0.21 per share, translating to an annualized dividend of $0.84, which reflects a yield of 3.44%. The ex-dividend date is set for November 14th, and the current dividend payout ratio stands at 50.60%.

About Coterra Energy Inc.

Coterra Energy Inc. is an independent oil and gas company engaged in the exploration, development, and production of oil, natural gas, and its liquids across various regions in the United States. The company operates in significant oil-rich regions including the Marcellus Shale in Pennsylvania, the Permian Basin in Texas and New Mexico, and the Anadarko Basin in Oklahoma, holding substantial acreage in each location.

Coterra, Energy, Investment