Evergreen Capital Management LLC Purchases 1,441 Shares of Coterra Energy Inc. (NYSE:CTRA)

Evergreen Capital Management LLC boosted its holdings in shares of Coterra Energy Inc. (NYSE:CTRA) by 0.5% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 319,616 shares of the company’s stock after acquiring an additional 1,441 shares during the quarter. Evergreen Capital Management LLC’s holdings in Coterra Energy were worth $8,524,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in CTRA. Balyasny Asset Management L.P. bought a new position in shares of Coterra Energy during the 4th quarter valued at $54,625,000. SG Americas Securities LLC lifted its position in shares of Coterra Energy by 2,609.6% in the first quarter. SG Americas Securities LLC now owns 1,541,342 shares of the company’s stock worth $42,973,000 after buying an additional 1,484,458 shares during the last quarter. Bridgewater Associates LP bought a new stake in shares of Coterra Energy during the 4th quarter worth about $31,112,000. Clearbridge Investments LLC acquired a new position in shares of Coterra Energy during the 1st quarter valued at about $28,967,000. Finally, American Century Companies Inc. raised its stake in shares of Coterra Energy by 29.1% in the 2nd quarter. American Century Companies Inc. now owns 4,498,227 shares of the company’s stock valued at $119,968,000 after acquiring an additional 1,013,107 shares in the last quarter. 87.92% of the stock is currently owned by institutional investors and hedge funds.

Coterra Energy Trading Up 0.4 %

Shares of CTRA stock opened at $23.66 on Monday. Coterra Energy Inc. has a 12-month low of $22.30 and a 12-month high of $29.89. The firm has a 50-day moving average price of $24.42 and a 200 day moving average price of $26.39. The company has a quick ratio of 1.38, a current ratio of 1.40 and a debt-to-equity ratio of 0.16. The company has a market capitalization of $17.61 billion, a P/E ratio of 13.68, a P/E/G ratio of 1.16 and a beta of 0.22.

Coterra Energy (NYSE:CTRA) last released its quarterly earnings results on Thursday, August 1st. The company reported $0.37 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 in the prior year, the firm earned $0.38 earnings per share. The business’s quarterly revenue was up 7.3% compared to the same quarter last year. Research analysts forecast that Coterra Energy Inc. will post 1.95 earnings per share for the current fiscal year.

Coterra Energy Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, August 29th. Stockholders of record on Thursday, August 15th were given a dividend of $0.21 per share. The ex-dividend date was Thursday, August 15th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 3.55%. Coterra Energy’s payout ratio is 48.55%.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on CTRA shares. Roth Capital upgraded Coterra Energy from a “hold” rating to a “strong-buy” rating in a report on Tuesday, August 27th. Truist Financial decreased their price target on shares of Coterra Energy from $35.00 to $34.00 and set a “buy” rating for the company in a report on Monday, July 22nd. Wolfe Research began coverage on Coterra Energy in a research report on Thursday, July 18th. They issued an “outperform” rating and a $35.00 price target on the stock. Morgan Stanley cut their price objective on Coterra Energy from $29.00 to $27.00 and set an “equal weight” rating for the company in a research report on Monday, September 16th. Finally, Bank of America restated a “buy” rating and set a $34.00 price objective on shares of Coterra Energy in a report on Friday, June 14th. Two equities research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Coterra Energy presently has a consensus rating of “Moderate Buy” and a consensus target price of $32.59.

Coterra Energy Company 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.