Wealth Quarterback LLC Increases Stock Position in Coterra Energy Inc. (NYSE:CTRA)

Wealth Quarterback LLC increased its position in Coterra Energy Inc. (NYSE:CTRA) by 4.3% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 31,694 shares of the company’s stock after buying an additional 1,319 shares during the quarter. Wealth Quarterback LLC’s holdings in Coterra Energy were worth $759,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in CTRA. Bank of Montreal Can increased its holdings in Coterra Energy by 160.1% in the 2nd quarter. Bank of Montreal Can now owns 2,898,876 shares of the company’s stock valued at $80,154,000 after purchasing an additional 1,784,192 shares in the last quarter. Marshall Wace LLP grew its stake in shares of Coterra Energy by 5,325.5% in the second quarter. Marshall Wace LLP now owns 1,148,569 shares of the company’s stock valued at $30,632,000 after buying an additional 1,127,399 shares in the last quarter. Clearbridge Investments LLC purchased a new stake in shares of Coterra Energy during the 1st quarter valued at about $28,967,000. American Century Companies Inc. lifted its position in Coterra Energy by 29.1% during the 2nd quarter. American Century Companies Inc. now owns 4,498,227 shares of the company’s stock worth $119,968,000 after acquiring an additional 1,013,107 shares in the last quarter. Finally, Earnest Partners LLC boosted its holdings in Coterra Energy by 37.5% in the 1st quarter. Earnest Partners LLC now owns 1,918,569 shares of the company’s stock worth $53,490,000 after acquiring an additional 523,480 shares during the period. Institutional investors and hedge funds own 87.92% of the company’s stock.

Coterra Energy Price Performance

CTRA opened at $24.58 on Friday. The company has a quick ratio of 1.38, a current ratio of 1.61 and a debt-to-equity ratio of 0.16. The company’s 50-day moving average price is $23.77 and its 200 day moving average price is $25.58. Coterra Energy Inc. has a fifty-two week low of $22.30 and a fifty-two week high of $28.90. The firm has a market cap of $18.11 billion, a price-to-earnings ratio of 14.81, a price-to-earnings-growth ratio of 1.42 and a beta of 0.22.

Coterra Energy (NYSE:CTRA) last announced its quarterly earnings results on Thursday, October 31st. The company reported $0.32 earnings per share for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.03). Coterra Energy had a return on equity of 9.38% and a net margin of 21.91%. The company had revenue of $1.36 billion for the quarter, compared to analyst estimates of $1.28 billion. During the same quarter in the previous year, the company posted $0.47 earnings per share. The firm’s revenue for the quarter was up .2% compared to the same quarter last year. As a group, sell-side analysts expect that Coterra Energy Inc. will post 1.62 earnings per share for the current year.

Coterra Energy Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, November 27th. Stockholders of record on Thursday, November 14th will be issued a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a dividend yield of 3.42%. The ex-dividend date of this dividend is Thursday, November 14th. Coterra Energy’s dividend payout ratio (DPR) is 50.60%.

Analyst Ratings Changes

A number of research analysts have recently commented on the stock. Wolfe Research initiated coverage on shares of Coterra Energy in a research report on Thursday, July 18th. They set an “outperform” rating and a $35.00 target price on the stock. Morgan Stanley cut their price objective on shares of Coterra Energy from $29.00 to $27.00 and set an “equal weight” rating on the stock in a report on Monday, September 16th. Barclays lowered their target price on Coterra Energy from $33.00 to $31.00 and set an “overweight” rating for the company in a research note on Thursday, October 3rd. Piper Sandler reiterated an “overweight” rating and issued a $32.00 price target (up previously from $31.00) on shares of Coterra Energy in a research note on Monday, November 4th. Finally, Truist Financial reduced their price target on Coterra Energy from $34.00 to $31.00 and set a “buy” rating for the company in a report on Monday, September 30th. Two equities research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $31.29.

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.