Coterra Energy Inc. (NYSE:CTRA) Shares Acquired by NewEdge Advisors LLC

NewEdge Advisors LLC increased its stake in shares of Coterra Energy Inc. (NYSE:CTRA) by 198.8% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 82,825 shares of the company’s stock after acquiring an additional 55,109 shares during the quarter. NewEdge Advisors LLC’s holdings in Coterra Energy were worth $2,209,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Fortitude Family Office LLC increased its position in shares of Coterra Energy by 154.9% during the second quarter. Fortitude Family Office LLC now owns 933 shares of the company’s stock worth $25,000 after purchasing an additional 567 shares in the last quarter. Larson Financial Group LLC increased its position in Coterra Energy by 98.0% during the second quarter. Larson Financial Group LLC now owns 1,081 shares of the company’s stock worth $29,000 after buying an additional 535 shares during the period. Central Pacific Bank Trust Division purchased a new stake in Coterra Energy in the first quarter valued at approximately $44,000. Harbor Investment Advisory LLC boosted its holdings in shares of Coterra Energy by 869.3% in the first quarter. Harbor Investment Advisory LLC now owns 1,609 shares of the company’s stock valued at $45,000 after acquiring an additional 1,443 shares during the period. Finally, Northwest Investment Counselors LLC purchased a new position in shares of Coterra Energy during the first quarter worth approximately $47,000. 87.92% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts recently commented on the stock. Wells Fargo & Company reduced their price target on shares of Coterra Energy from $34.00 to $32.00 and set an “overweight” rating for the company in a research report on Tuesday. 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. UBS Group decreased 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 note on Wednesday, September 18th. Roth Mkm upgraded Coterra Energy from a “neutral” rating to a “buy” rating and boosted their price target for the company from $25.00 to $29.00 in a research report on Tuesday, August 27th. Finally, Piper Sandler decreased their price objective on Coterra Energy from $39.00 to $31.00 and set an “overweight” rating for the company in a research report on Thursday, August 15th. Two equities research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $32.24.

Coterra Energy Price Performance

Coterra Energy stock opened at $24.86 on Friday. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.38 and a current ratio of 1.40. Coterra Energy Inc. has a one year low of $22.30 and a one year high of $29.89. The company has a market cap of $18.50 billion, a P/E ratio of 14.37, a price-to-earnings-growth ratio of 1.37 and a beta of 0.22. The business has a fifty day moving average of $23.91 and a two-hundred day moving average of $26.22.

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 the consensus estimate of $0.39 by ($0.02). Coterra Energy had a return on equity of 10.48% and a net margin of 23.18%. The firm had revenue of $1.27 billion for the quarter, compared to analyst estimates of $1.32 billion. During the same period last year, the firm earned $0.38 EPS. The company’s quarterly revenue was up 7.3% compared to the same quarter last year. As a group, analysts predict that Coterra Energy Inc. will post 1.74 earnings per share for the current fiscal 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 given a dividend of $0.21 per share. The ex-dividend date was Thursday, August 15th. This represents a $0.84 annualized dividend and a dividend yield of 3.38%. Coterra Energy’s dividend payout ratio is currently 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.