Graham Capital Wealth Management LLC Increases Stock Position in Coterra Energy Inc. (NYSE:CTRA)

Graham Capital Wealth Management LLC raised its holdings in Coterra Energy Inc. (NYSE:CTRA) by 1.3% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 78,017 shares of the company’s stock after purchasing an additional 977 shares during the quarter. Coterra Energy accounts for about 2.8% of Graham Capital Wealth Management LLC’s holdings, making the stock its 13th biggest position. Graham Capital Wealth Management LLC’s holdings in Coterra Energy were worth $2,081,000 at the end of the most recent quarter.

A number of other institutional investors also recently added to or reduced their stakes in CTRA. Core Alternative Capital boosted its stake in shares of Coterra Energy by 13.9% during the 2nd quarter. Core Alternative Capital now owns 82,480 shares of the company’s stock worth $2,200,000 after acquiring an additional 10,081 shares in the last quarter. Quarry LP purchased a new stake in shares of Coterra Energy during the 2nd quarter worth approximately $186,000. Sunbelt Securities Inc. boosted its stake in shares of Coterra Energy by 1.1% during the 2nd quarter. Sunbelt Securities Inc. now owns 50,222 shares of the company’s stock worth $1,339,000 after acquiring an additional 542 shares in the last quarter. NewEdge Advisors LLC boosted its stake in shares of Coterra Energy by 198.8% during the 2nd quarter. NewEdge Advisors LLC now owns 82,825 shares of the company’s stock worth $2,209,000 after acquiring an additional 55,109 shares in the last quarter. Finally, Disciplined Growth Investors Inc. MN boosted its stake in shares of Coterra Energy by 1.0% during the 2nd quarter. Disciplined Growth Investors Inc. MN now owns 5,063,920 shares of the company’s stock worth $135,055,000 after acquiring an additional 51,249 shares in the last quarter. Hedge funds and other institutional investors own 87.92% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on CTRA shares. Susquehanna decreased their price target on Coterra Energy from $33.00 to $30.00 and set a “positive” rating on the stock in a research note on Wednesday, September 4th. JPMorgan Chase & Co. decreased their price target on Coterra Energy from $31.00 to $26.00 and set an “overweight” rating on the stock in a research note on Thursday, September 12th. 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. Wolfe Research began coverage on Coterra Energy in a research report on Thursday, July 18th. They set an “outperform” rating and a $35.00 price objective for the company. Finally, Bank of America restated a “buy” rating and set a $34.00 price objective on shares of Coterra Energy in a research report on Friday, June 14th. Two investment analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $32.41.

Coterra Energy Trading Up 0.9 %

Shares of CTRA opened at $23.95 on Tuesday. The stock has a fifty day moving average of $24.07 and a two-hundred day moving average of $26.29. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.38 and a current ratio of 1.40. The company has a market capitalization of $17.82 billion, a PE ratio of 13.84, a price-to-earnings-growth ratio of 1.37 and a beta of 0.22. 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 results on Thursday, August 1st. The company reported $0.37 earnings per share for the quarter, missing the consensus estimate of $0.39 by ($0.02). The business had revenue of $1.27 billion during the quarter, compared to analyst estimates of $1.32 billion. Coterra Energy had a net margin of 23.18% and a return on equity of 10.48%. The company’s revenue was up 7.3% on a year-over-year basis. During the same quarter last year, the firm posted $0.38 earnings per share. As a group, analysts forecast that Coterra Energy Inc. will post 1.74 EPS for the current year.

Coterra Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 29th. Stockholders of record on Thursday, August 15th were issued a dividend of $0.21 per share. The ex-dividend date of this dividend was Thursday, August 15th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 3.51%. Coterra Energy’s 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.