Coterra Energy Inc. (NYSE:CTRA) Shares Acquired by Abich Financial Wealth Management LLC

Abich Financial Wealth Management LLC increased its stake in shares of Coterra Energy Inc. (NYSE:CTRA) by 50.3% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 5,805 shares of the company’s stock after purchasing an additional 1,944 shares during the quarter. Abich Financial Wealth Management LLC’s holdings in Coterra Energy were worth $155,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. Balyasny Asset Management L.P. purchased a new stake in Coterra Energy in the 4th quarter valued at approximately $54,625,000. Bank of Montreal Can boosted its stake in shares of Coterra Energy by 160.1% in the second quarter. Bank of Montreal Can now owns 2,898,876 shares of the company’s stock valued at $80,154,000 after buying an additional 1,784,192 shares in the last quarter. SG Americas Securities LLC grew its holdings in Coterra Energy by 2,609.6% during the first quarter. SG Americas Securities LLC now owns 1,541,342 shares of the company’s stock worth $42,973,000 after acquiring an additional 1,484,458 shares during the period. Bridgewater Associates LP purchased a new position in Coterra Energy in the fourth quarter worth $31,112,000. Finally, Marshall Wace LLP lifted its holdings in Coterra Energy by 5,325.5% in the second quarter. Marshall Wace LLP now owns 1,148,569 shares of the company’s stock valued at $30,632,000 after acquiring an additional 1,127,399 shares during the period. 87.92% of the stock is currently owned by hedge funds and other institutional investors.

Coterra Energy Trading Down 0.9 %

NYSE CTRA opened at $23.76 on Wednesday. The company has a market cap of $17.57 billion, a P/E ratio of 13.73, a P/E/G ratio of 1.37 and a beta of 0.22. Coterra Energy Inc. has a 12 month low of $22.30 and a 12 month high of $29.89. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.40 and a quick ratio of 1.38. The company has a 50-day moving average of $24.29 and a 200-day moving average of $26.36.

Coterra Energy (NYSE:CTRA) last issued its quarterly earnings results on Thursday, August 1st. The company reported $0.37 EPS for the quarter, missing the consensus estimate of $0.39 by ($0.02). The company had revenue of $1.27 billion for the quarter, compared to analyst estimates of $1.32 billion. Coterra Energy had a return on equity of 10.48% and a net margin of 23.18%. The business’s revenue for the quarter was up 7.3% on a year-over-year basis. During the same period last year, the company posted $0.38 EPS. As a group, equities analysts predict that Coterra Energy Inc. will post 1.74 earnings per share for the current year.

Coterra Energy Dividend Announcement

The firm also recently disclosed 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. The ex-dividend date of this dividend was Thursday, August 15th. This represents a $0.84 annualized dividend and a yield of 3.54%. Coterra Energy’s dividend payout ratio is currently 48.55%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on CTRA shares. Truist Financial cut 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. Roth Capital upgraded Coterra Energy from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, August 27th. Wolfe Research assumed coverage on Coterra Energy in a research report on Thursday, July 18th. They issued an “outperform” rating and a $35.00 price target for the company. UBS Group decreased their price objective on shares of Coterra Energy from $34.00 to $31.00 and set a “buy” rating on the stock in a research report on Wednesday, September 18th. Finally, Susquehanna cut their target price on shares of Coterra Energy from $33.00 to $30.00 and set a “positive” rating for the company in a research report on Wednesday, September 4th. Two equities research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Coterra Energy has an average rating of “Moderate Buy” and an average price target 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.