Algert Global LLC Purchases 2,055 Shares of Coterra Energy Inc. (NYSE:CTRA)

Algert Global LLC boosted its holdings in shares of Coterra Energy Inc. (NYSE:CTRA) by 16.3% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 14,625 shares of the company’s stock after acquiring an additional 2,055 shares during the period. Algert Global LLC’s holdings in Coterra Energy were worth $390,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Fortitude Family Office LLC lifted its holdings in shares of Coterra Energy by 154.9% during the 2nd quarter. Fortitude Family Office LLC now owns 933 shares of the company’s stock valued at $25,000 after purchasing an additional 567 shares in the last quarter. Larson Financial Group LLC boosted its holdings in shares of Coterra Energy by 98.0% in the second quarter. Larson Financial Group LLC now owns 1,081 shares of the company’s stock valued at $29,000 after buying an additional 535 shares during the period. Central Pacific Bank Trust Division acquired a new stake in shares of Coterra Energy during the first quarter worth $44,000. Harbor Investment Advisory LLC raised its holdings in shares of Coterra Energy by 869.3% during the first quarter. Harbor Investment Advisory LLC now owns 1,609 shares of the company’s stock worth $45,000 after acquiring an additional 1,443 shares during the period. Finally, Northwest Investment Counselors LLC bought a new stake in Coterra Energy in the 1st quarter valued at $47,000. 87.92% of the stock is owned by institutional investors and hedge funds.

Coterra Energy Price Performance

Shares of CTRA opened at $24.67 on Tuesday. The firm has a market capitalization of $18.36 billion, a PE ratio of 14.26, a PEG ratio of 1.37 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. The company’s 50-day moving average is $23.89 and its 200-day moving average is $26.19. Coterra Energy Inc. has a fifty-two week low of $22.30 and a fifty-two week high of $29.89.

Coterra Energy (NYSE:CTRA) last issued its quarterly earnings data 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). The firm had revenue of $1.27 billion for the quarter, compared to the consensus estimate of $1.32 billion. Coterra Energy had a return on equity of 10.48% and a net margin of 23.18%. The company’s revenue was up 7.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.38 EPS. Equities analysts forecast that Coterra Energy Inc. will post 1.74 EPS for the current year.

Coterra Energy Dividend Announcement

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 annualized dividend and a yield of 3.41%. The ex-dividend date of this dividend was Thursday, August 15th. Coterra Energy’s payout ratio is presently 48.55%.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the company. Morgan Stanley dropped their price target on Coterra Energy from $29.00 to $27.00 and set an “equal weight” rating on the stock in a research note on Monday, September 16th. Piper Sandler cut their target price on Coterra Energy from $39.00 to $31.00 and set an “overweight” rating on the stock in a research note on Thursday, August 15th. BMO Capital Markets raised shares of Coterra Energy to a “hold” rating in a research note on Wednesday, July 3rd. Roth Mkm upgraded shares of Coterra Energy from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $25.00 to $29.00 in a report on Tuesday, August 27th. Finally, Bank of America restated a “buy” rating and set a $34.00 target price on shares of Coterra Energy in a report on Friday, June 14th. Two 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. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $32.24.

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.