Wealth Alliance Advisory Group LLC Makes New $304,000 Investment in Coterra Energy Inc. (NYSE:CTRA)

Wealth Alliance Advisory Group LLC acquired a new position in shares of Coterra Energy Inc. (NYSE:CTRA) in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 12,687 shares of the company’s stock, valued at approximately $304,000.

Several other hedge funds also recently modified their holdings of CTRA. Raymond James & Associates grew its stake in shares of Coterra Energy by 8.3% in the third quarter. Raymond James & Associates now owns 1,286,545 shares of the company’s stock valued at $30,813,000 after buying an additional 98,882 shares in the last quarter. First Citizens Bank & Trust Co. bought a new stake in Coterra Energy during the third quarter worth $225,000. Blue Trust Inc. lifted its stake in Coterra Energy by 118.5% in the third quarter. Blue Trust Inc. now owns 7,200 shares of the company’s stock valued at $172,000 after acquiring an additional 3,905 shares during the last quarter. Accurate Wealth Management LLC grew its position in shares of Coterra Energy by 10.6% in the 3rd quarter. Accurate Wealth Management LLC now owns 34,384 shares of the company’s stock valued at $828,000 after acquiring an additional 3,297 shares during the period. Finally, V Square Quantitative Management LLC increased its stake in shares of Coterra Energy by 61.8% during the 3rd quarter. V Square Quantitative Management LLC now owns 12,697 shares of the company’s stock worth $304,000 after purchasing an additional 4,849 shares during the last quarter. Institutional investors own 87.92% of the company’s stock.

Analyst Ratings Changes

CTRA has been the subject of a number of research analyst reports. Wolfe Research started coverage on Coterra Energy in a report on Thursday, July 18th. They set an “outperform” rating and a $35.00 price target for the company. Wells Fargo & Company dropped their price target on Coterra Energy from $34.00 to $32.00 and set an “overweight” rating on the stock in a research note on Tuesday, October 1st. Roth Capital raised shares of Coterra Energy from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, August 27th. Susquehanna dropped their price objective on shares of Coterra Energy from $33.00 to $30.00 and set a “positive” rating on the stock in a research report on Wednesday, September 4th. Finally, Scotiabank reduced their target price on shares of Coterra Energy from $35.00 to $32.00 and set a “sector outperform” rating for the company in a report on Thursday, October 10th. Two research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $32.06.

Coterra Energy Trading Down 1.2 %

Shares of Coterra Energy stock opened at $23.78 on Friday. The company has a quick ratio of 1.38, a current ratio of 1.40 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 $29.79. The company has a market capitalization of $17.70 billion, a price-to-earnings ratio of 13.75, a PEG ratio of 1.41 and a beta of 0.22. The firm’s 50-day moving average price is $23.87 and its two-hundred day moving average price is $25.98.

Coterra Energy (NYSE:CTRA) last posted 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). Coterra Energy had a return on equity of 10.48% and a net margin of 23.18%. The firm had revenue of $1.27 billion for the quarter, compared to analyst estimates of $1.32 billion. During the same quarter in the prior year, the business posted $0.38 EPS. The business’s revenue was up 7.3% on a year-over-year basis. On average, analysts forecast that Coterra Energy Inc. will post 1.72 earnings per share for the current fiscal year.

Coterra Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 29th. Stockholders of record on Thursday, August 15th were issued a dividend of $0.21 per share. The ex-dividend date was Thursday, August 15th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 3.53%. Coterra Energy’s dividend payout ratio (DPR) is currently 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.