Kestra Advisory Services LLC Raises Holdings in Coterra Energy Inc. (NYSE:CTRA)

Kestra Advisory Services LLC grew its position in Coterra Energy Inc. (NYSE:CTRA) by 3.7% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 422,870 shares of the company’s stock after buying an additional 15,010 shares during the quarter. Kestra Advisory Services LLC owned 0.06% of Coterra Energy worth $11,790,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Raymond James & Associates lifted its stake in shares of Coterra Energy by 2.3% during the 4th quarter. Raymond James & Associates now owns 1,122,446 shares of the company’s stock worth $28,645,000 after purchasing an additional 25,462 shares during the last quarter. Kingswood Wealth Advisors LLC purchased a new stake in shares of Coterra Energy during the 4th quarter worth $219,000. Procyon Advisors LLC lifted its stake in shares of Coterra Energy by 7.0% during the 4th quarter. Procyon Advisors LLC now owns 14,170 shares of the company’s stock worth $362,000 after purchasing an additional 924 shares during the last quarter. Ritholtz Wealth Management lifted its stake in shares of Coterra Energy by 51.5% during the 4th quarter. Ritholtz Wealth Management now owns 28,052 shares of the company’s stock worth $716,000 after purchasing an additional 9,531 shares during the last quarter. Finally, SeaCrest Wealth Management LLC purchased a new stake in shares of Coterra Energy during the 4th quarter worth $204,000. 87.92% of the stock is currently owned by hedge funds and other institutional investors.

Coterra Energy Stock Performance

CTRA stock traded down $0.11 during trading on Monday, hitting $25.67. 189,653 shares of the company traded hands, compared to its average volume of 6,382,379. The stock’s 50-day simple moving average is $27.10 and its 200 day simple 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. The company has a market cap of $19.10 billion, a PE ratio of 14.90, a P/E/G ratio of 1.52 and a beta of 0.24. Coterra Energy Inc. has a 1 year low of $23.73 and a 1 year high of $29.89.

Coterra Energy (NYSE:CTRA) last announced its quarterly earnings results on Thursday, May 2nd. The company reported $0.50 earnings per share for the quarter, beating the consensus estimate of $0.41 by $0.09. The company had revenue of $1.43 billion during the quarter, compared to analysts’ expectations of $1.38 billion. Coterra Energy had a return on equity of 10.75% and a net margin of 23.34%. On average, equities analysts expect that Coterra Energy Inc. will post 2.01 earnings per share for the current fiscal year.

Coterra Energy Announces Dividend

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

Analysts Set New Price Targets

CTRA has been the subject of a number of analyst reports. Citigroup upped their price objective on Coterra Energy from $30.00 to $31.00 and gave the stock a “buy” rating in a research note on Friday, May 24th. Scotiabank upped their target price on Coterra Energy from $31.00 to $35.00 and gave the company a “sector outperform” rating in a research report on Thursday, April 11th. Morgan Stanley increased their price target on Coterra Energy from $26.00 to $29.00 and gave the company an “equal weight” rating in a research note on Wednesday, April 17th. BMO Capital Markets upgraded Coterra Energy to a “hold” rating in a research note on Wednesday, July 3rd. Finally, Bank of America reiterated a “buy” rating and issued a $34.00 price target on shares of Coterra Energy in a research note on Friday, June 14th. Two investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $33.94.

About Coterra Energy

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.