Earnest Partners LLC Has $53.49 Million Stock Position in Coterra Energy Inc. (NYSE:CTRA)

Earnest Partners LLC lifted its position in Coterra Energy Inc. (NYSE:CTRA) by 37.5% in the first quarter, Holdings Channel.com reports. The institutional investor owned 1,918,569 shares of the company’s stock after purchasing an additional 523,480 shares during the period. Earnest Partners LLC’s holdings in Coterra Energy were worth $53,490,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of CTRA. Wetzel Investment Advisors Inc. acquired a new stake in shares of Coterra Energy in the fourth quarter worth $33,000. Tennessee Valley Asset Management Partners acquired a new position in Coterra Energy during the 4th quarter valued at $33,000. Headlands Technologies LLC raised its stake in Coterra Energy by 397.7% during the 4th quarter. Headlands Technologies LLC now owns 1,742 shares of the company’s stock valued at $44,000 after purchasing an additional 1,392 shares during the last quarter. Central Pacific Bank Trust Division acquired a new position in Coterra Energy during the 1st quarter valued at $44,000. Finally, Harbor Investment Advisory LLC raised its stake in Coterra Energy by 869.3% during the 1st quarter. Harbor Investment Advisory LLC now owns 1,609 shares of the company’s stock valued at $45,000 after purchasing an additional 1,443 shares during the last quarter. 87.92% of the stock is currently owned by institutional investors and hedge funds.

Coterra Energy Price Performance

Shares of CTRA traded down $0.06 during trading hours on Monday, hitting $25.72. The stock had a trading volume of 4,152,006 shares, compared to its average volume of 6,409,896. The company’s fifty day moving average is $27.10 and its two-hundred day moving average is $26.73. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.49 and a quick ratio of 1.46. Coterra Energy Inc. has a 52 week low of $23.73 and a 52 week high of $29.89. The stock has a market capitalization of $19.14 billion, a price-to-earnings ratio of 14.86, a P/E/G ratio of 1.52 and a beta of 0.24.

Coterra Energy (NYSE:CTRA) last posted its earnings results on Thursday, May 2nd. The company reported $0.50 earnings per share for the quarter, topping the consensus estimate of $0.41 by $0.09. Coterra Energy had a net margin of 23.34% and a return on equity of 10.75%. The business had revenue of $1.43 billion for the quarter, compared to analyst estimates of $1.38 billion. On average, analysts anticipate that Coterra Energy Inc. will post 2.01 EPS for the current year.

Coterra Energy Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, May 30th. Stockholders of record on Thursday, May 16th were issued a $0.21 dividend. This represents a $0.84 annualized dividend and a dividend yield of 3.27%. The ex-dividend date of this dividend was Wednesday, May 15th. Coterra Energy’s payout ratio is 48.55%.

Wall Street Analysts Forecast Growth

Several research firms recently commented on CTRA. Bank of America reiterated a “buy” rating and set a $34.00 target price on shares of Coterra Energy in a research note on Friday, June 14th. Truist Financial cut their target price on shares of Coterra Energy from $35.00 to $34.00 and set a “buy” rating for the company in a research note on Monday, July 22nd. Wolfe Research began coverage on shares of Coterra Energy in a report on Thursday, July 18th. They issued an “outperform” rating and a $35.00 price target on the stock. Citigroup boosted their price target on shares of Coterra Energy from $30.00 to $31.00 and gave the company a “buy” rating in a report on Friday, May 24th. Finally, Susquehanna boosted their price target on shares of Coterra Energy from $32.00 to $33.00 and gave the company a “positive” rating in a report on Tuesday, May 7th. Two analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $33.94.

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.