Thoroughbred Financial Services LLC Buys Shares of 13,171 Coterra Energy Inc. (NYSE:CTRA)

Thoroughbred Financial Services LLC purchased a new position in Coterra Energy Inc. (NYSE:CTRA) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 13,171 shares of the company’s stock, valued at approximately $351,000.

Other large investors also recently modified their holdings of the company. Balyasny Asset Management L.P. purchased a new stake in Coterra Energy during the fourth quarter valued at approximately $54,625,000. SG Americas Securities LLC raised its holdings in Coterra Energy by 2,609.6% in the 1st quarter. SG Americas Securities LLC now owns 1,541,342 shares of the company’s stock worth $42,973,000 after purchasing an additional 1,484,458 shares during the period. Bridgewater Associates LP purchased a new position in Coterra Energy during the fourth quarter valued at $31,112,000. Clearbridge Investments LLC bought a new stake in Coterra Energy during the first quarter valued at about $28,967,000. Finally, American Century Companies Inc. increased its position in Coterra Energy by 29.1% in 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 in the last quarter. Institutional investors own 87.92% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently issued reports on CTRA. Wolfe Research started coverage on shares of Coterra Energy in a report on Thursday, July 18th. They issued an “outperform” rating and a $35.00 target price for the company. Citigroup raised their price objective on shares of Coterra Energy from $30.00 to $31.00 and gave the company a “buy” rating in a research report on Friday, May 24th. Morgan Stanley dropped their target price on shares of Coterra Energy from $29.00 to $27.00 and set an “equal weight” rating for the company in a report on Monday. Susquehanna decreased their price target on Coterra Energy from $33.00 to $30.00 and set a “positive” rating on the stock in a report on Wednesday, September 4th. Finally, Piper Sandler dropped their price objective on Coterra Energy from $39.00 to $31.00 and set an “overweight” rating for the company in a research note on Thursday, August 15th. Two analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $32.76.

Coterra Energy Stock Up 0.6 %

Shares of NYSE CTRA opened at $22.92 on Tuesday. Coterra Energy Inc. has a 1 year low of $22.30 and a 1 year high of $29.89. The firm has a 50-day simple moving average of $24.70 and a two-hundred day simple moving average of $26.48. The company has a market cap of $17.06 billion, a P/E ratio of 13.25, a PEG ratio of 1.16 and a beta of 0.22. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.40 and a quick ratio of 1.38.

Coterra Energy (NYSE:CTRA) last announced its quarterly earnings data on Thursday, August 1st. The company reported $0.37 EPS for the quarter, missing the consensus estimate of $0.39 by ($0.02). Coterra Energy had a net margin of 23.18% and a return on equity of 10.48%. The business had revenue of $1.27 billion during the quarter, compared to the consensus estimate of $1.32 billion. During the same period last year, the company earned $0.38 EPS. The business’s revenue was up 7.3% compared to the same quarter last year. Research analysts anticipate that Coterra Energy Inc. will post 1.95 earnings per share for the current year.

Coterra Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 29th. Investors of record on Thursday, August 15th were issued a dividend of $0.21 per share. The ex-dividend date of this dividend was Thursday, August 15th. This represents a $0.84 dividend on an annualized basis and a yield of 3.66%. Coterra Energy’s payout ratio is 48.55%.

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.