Interval Partners LP Buys Shares of 179,397 Coterra Energy Inc. (NYSE:CTRA)

Interval Partners LP bought a new stake in shares of Coterra Energy Inc. (NYSE:CTRA) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 179,397 shares of the company’s stock, valued at approximately $4,785,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of CTRA. Cambridge Investment Research Advisors Inc. increased its holdings in shares of Coterra Energy by 3.9% in the fourth quarter. Cambridge Investment Research Advisors Inc. now owns 151,805 shares of the company’s stock worth $3,874,000 after purchasing an additional 5,702 shares during the period. TCW Group Inc. bought a new position in shares of Coterra Energy in the fourth quarter worth $302,000. Hilltop Holdings Inc. increased its holdings in shares of Coterra Energy by 2.3% in the fourth quarter. Hilltop Holdings Inc. now owns 101,321 shares of the company’s stock worth $2,586,000 after purchasing an additional 2,281 shares during the period. Alta Wealth Advisors LLC bought a new position in shares of Coterra Energy in the fourth quarter worth $326,000. Finally, United Services Automobile Association grew its position in Coterra Energy by 19.4% in the fourth quarter. United Services Automobile Association now owns 21,717 shares of the company’s stock worth $554,000 after acquiring an additional 3,534 shares in the last quarter. Institutional investors own 87.92% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on CTRA. JPMorgan Chase & Co. cut their target price on shares of Coterra Energy from $31.00 to $26.00 and set an “overweight” rating for the company in a research report on Thursday, September 12th. Piper Sandler cut their target price on shares of Coterra Energy from $39.00 to $31.00 and set an “overweight” rating for the company in a research report on Thursday, August 15th. UBS Group cut their target price on shares of Coterra Energy from $34.00 to $31.00 and set a “buy” rating for the company in a research report on Wednesday, September 18th. Wolfe Research began coverage on shares of Coterra Energy in a research report on Thursday, July 18th. They issued an “outperform” rating and a $35.00 target price for the company. Finally, Roth Mkm upgraded shares of Coterra Energy from a “neutral” rating to a “buy” rating and upped their target price for the stock from $25.00 to $29.00 in a research report on Tuesday, August 27th. Two investment analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Coterra Energy has a consensus rating of “Moderate Buy” and a consensus price target of $32.59.

Coterra Energy Price Performance

CTRA stock opened at $23.99 on Tuesday. Coterra Energy Inc. has a 1 year low of $22.30 and a 1 year high of $29.89. The company has a market cap of $17.85 billion, a P/E ratio of 13.86, a PEG ratio of 1.16 and a beta of 0.22. The firm has a 50-day moving average of $24.36 and a 200 day moving average of $26.38. 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 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 return on equity of 10.48% and a net margin of 23.18%. The company had revenue of $1.27 billion during the quarter, compared to the consensus estimate of $1.32 billion. During the same period in the previous year, the company earned $0.38 earnings per share. Coterra Energy’s quarterly revenue was up 7.3% on a year-over-year basis. On average, sell-side analysts forecast that Coterra Energy Inc. will post 1.95 EPS for the current year.

Coterra Energy Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 29th. Shareholders of record on Thursday, August 15th were paid a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 3.50%. The ex-dividend date of this dividend was Thursday, August 15th. Coterra Energy’s dividend payout ratio is 48.55%.

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.