Raymond James & Associates Buys 98,882 Shares of Coterra Energy Inc. (NYSE:CTRA)

Raymond James & Associates boosted its position in shares of Coterra Energy Inc. (NYSE:CTRA) by 8.3% during the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 1,286,545 shares of the company’s stock after purchasing an additional 98,882 shares during the quarter. Raymond James & Associates owned about 0.17% of Coterra Energy worth $30,813,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of CTRA. Fortitude Family Office LLC lifted its holdings 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 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% during the 2nd quarter. Larson Financial Group LLC now owns 1,081 shares of the company’s stock valued at $29,000 after acquiring an additional 535 shares during the last quarter. Central Pacific Bank Trust Division bought a new stake in shares of Coterra Energy in the first quarter worth approximately $44,000. EverSource Wealth Advisors LLC raised its holdings in shares of Coterra Energy by 31.0% during the first quarter. EverSource Wealth Advisors LLC now owns 2,351 shares of the company’s stock valued at $64,000 after purchasing an additional 557 shares during the last quarter. Finally, Family Firm Inc. bought a new position in Coterra Energy during the second quarter valued at approximately $68,000. 87.92% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have commented on CTRA. Truist Financial cut 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 report on Monday, September 30th. UBS Group cut their price objective on Coterra Energy from $34.00 to $31.00 and set a “buy” rating for the company in a report on Wednesday, September 18th. Piper Sandler dropped their target price on Coterra Energy from $39.00 to $31.00 and set an “overweight” rating on the stock in a research report on Thursday, August 15th. Morgan Stanley reduced their price target on shares of 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. Finally, JPMorgan Chase & Co. dropped their price objective 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. Two research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $32.06.

Coterra Energy Stock Performance

NYSE:CTRA opened at $23.68 on Thursday. The stock has a 50-day moving average price of $23.84 and a 200 day moving average price of $25.88. The company has a current ratio of 1.40, a quick ratio of 1.38 and a debt-to-equity ratio of 0.16. Coterra Energy Inc. has a 12-month low of $22.30 and a 12-month high of $28.90. The stock has a market capitalization of $17.62 billion, a P/E ratio of 13.69, a P/E/G ratio of 1.41 and a beta of 0.22.

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). The company 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%. Coterra Energy’s revenue was up 7.3% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.38 EPS. Equities research analysts forecast that Coterra Energy Inc. will post 1.72 EPS for the current fiscal year.

Coterra Energy Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, August 29th. Stockholders of record on Thursday, August 15th were issued a $0.21 dividend. The ex-dividend date of this dividend was Thursday, August 15th. This represents a $0.84 annualized dividend and a dividend yield of 3.55%. Coterra Energy’s dividend payout ratio (DPR) 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.