121,837 Shares in Coterra Energy Inc. (NYSE:CTRA) Acquired by Alpha Omega Wealth Management LLC

Alpha Omega Wealth Management LLC acquired a new position in shares of Coterra Energy Inc. (NYSE:CTRA) in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 121,837 shares of the company’s stock, valued at approximately $2,918,000.

A number of other institutional investors also recently bought and sold shares of CTRA. Fifth Third Bancorp boosted its position in shares of Coterra Energy by 0.6% in the 2nd quarter. Fifth Third Bancorp now owns 71,138 shares of the company’s stock worth $1,897,000 after buying an additional 399 shares in the last quarter. TCW Group Inc. raised its position in Coterra Energy by 4.0% during the second quarter. TCW Group Inc. now owns 10,447 shares of the company’s stock worth $279,000 after acquiring an additional 404 shares during the last quarter. Redwood Wealth Management Group LLC lifted its holdings in shares of Coterra Energy by 2.3% in the first quarter. Redwood Wealth Management Group LLC now owns 18,974 shares of the company’s stock valued at $529,000 after purchasing an additional 429 shares in the last quarter. Cornercap Investment Counsel Inc. grew its position in shares of Coterra Energy by 0.7% in the second quarter. Cornercap Investment Counsel Inc. now owns 66,280 shares of the company’s stock valued at $1,768,000 after purchasing an additional 436 shares during the last quarter. Finally, Quent Capital LLC increased its stake in shares of Coterra Energy by 8.1% during the 1st quarter. Quent Capital LLC now owns 5,923 shares of the company’s stock worth $165,000 after purchasing an additional 445 shares in the last quarter. 87.92% of the stock is currently owned by hedge funds and other institutional investors.

Coterra Energy Price Performance

CTRA opened at $24.72 on Friday. The company has a 50 day moving average of $23.93 and a two-hundred day moving average of $26.24. Coterra Energy Inc. has a 52-week low of $22.30 and a 52-week high of $29.89. The company has a quick ratio of 1.38, a current ratio of 1.40 and a debt-to-equity ratio of 0.16. The company has a market cap of $18.40 billion, a P/E ratio of 14.29, a P/E/G ratio of 1.37 and a beta of 0.22.

Coterra Energy (NYSE:CTRA) last announced 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). The company 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 firm’s revenue for the quarter was up 7.3% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.38 earnings per share. On average, analysts expect that Coterra Energy Inc. will post 1.74 earnings per share for the current year.

Coterra Energy Dividend Announcement

The business also recently declared 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. This represents a $0.84 annualized dividend and a yield of 3.40%. The ex-dividend date of this dividend was Thursday, August 15th. Coterra Energy’s dividend payout ratio (DPR) is presently 48.55%.

Wall Street Analysts Forecast Growth

CTRA has been the topic of a number of analyst reports. Roth Capital upgraded Coterra Energy from a “hold” rating to a “strong-buy” rating in a report on Tuesday, August 27th. Wells Fargo & Company dropped their price objective on Coterra Energy from $34.00 to $32.00 and set an “overweight” rating for the company in a research report on Tuesday. JPMorgan Chase & Co. reduced their target price on shares of Coterra Energy from $31.00 to $26.00 and set an “overweight” rating on the stock in a report on Thursday, September 12th. Piper Sandler lowered their price target on shares of Coterra Energy from $39.00 to $31.00 and set an “overweight” rating for the company in a report on Thursday, August 15th. Finally, Wolfe Research began coverage on shares of Coterra Energy in a research note on Thursday, July 18th. They set an “outperform” rating and a $35.00 price objective on the stock. Two analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $32.24.

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.