Cetera Investment Advisers Acquires 4,555 Shares of Coterra Energy Inc. (NYSE:CTRA)

Cetera Investment Advisers boosted its holdings in shares of Coterra Energy Inc. (NYSE:CTRA) by 2.2% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 213,650 shares of the company’s stock after purchasing an additional 4,555 shares during the quarter. Cetera Investment Advisers’ holdings in Coterra Energy were worth $5,698,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in the business. BNP PARIBAS ASSET MANAGEMENT Holding S.A. purchased a new position in Coterra Energy during the first quarter valued at $656,000. Quadrature Capital Ltd increased its holdings in shares of Coterra Energy by 112.2% in the first quarter. Quadrature Capital Ltd now owns 72,395 shares of the company’s stock worth $2,018,000 after purchasing an additional 38,278 shares during the last quarter. Vanguard Group Inc. lifted its position in shares of Coterra Energy by 0.5% in the fourth quarter. Vanguard Group Inc. now owns 87,927,114 shares of the company’s stock worth $2,243,900,000 after buying an additional 407,244 shares in the last quarter. CreativeOne Wealth LLC boosted its stake in Coterra Energy by 130.3% during the first quarter. CreativeOne Wealth LLC now owns 56,860 shares of the company’s stock valued at $1,586,000 after buying an additional 32,173 shares during the last quarter. Finally, Raymond James & Associates grew its holdings in Coterra Energy by 5.0% during the 2nd quarter. Raymond James & Associates now owns 1,187,663 shares of the company’s stock valued at $31,675,000 after buying an additional 56,748 shares in the last quarter. 87.92% of the stock is owned by hedge funds and other institutional investors.

Coterra Energy Stock Performance

Shares of NYSE:CTRA opened at $24.43 on Wednesday. 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 firm has a market cap of $18.18 billion, a PE ratio of 14.12, a price-to-earnings-growth ratio of 1.37 and a beta of 0.22. The firm’s 50 day simple moving average is $23.86 and its 200-day simple moving average is $26.17. Coterra Energy Inc. has a one year low of $22.30 and a one year high of $29.89.

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

Coterra Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 29th. Investors of record on Thursday, August 15th were paid a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a yield of 3.44%. The ex-dividend date was Thursday, August 15th. Coterra Energy’s dividend payout ratio (DPR) is presently 48.55%.

Wall Street Analyst Weigh In

A number of research firms have recently commented on CTRA. Roth Capital upgraded Coterra Energy from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, August 27th. UBS Group lowered their price objective on 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 raised their price target for the stock from $25.00 to $29.00 in a research report on Tuesday, August 27th. Truist Financial cut 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 Monday, September 30th. Finally, Wells Fargo & Company lowered their target price on shares of Coterra Energy from $34.00 to $32.00 and set an “overweight” rating for the company in a report on Tuesday, October 1st. Two research 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 data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus 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.