Graham Capital Wealth Management LLC Grows Stock Holdings in Coterra Energy Inc. (NYSE:CTRA)

Graham Capital Wealth Management LLC lifted its position in shares of Coterra Energy Inc. (NYSE:CTRA) by 7.1% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 83,569 shares of the company’s stock after purchasing an additional 5,552 shares during the period. Coterra Energy comprises approximately 2.0% of Graham Capital Wealth Management LLC’s portfolio, making the stock its 21st largest position. Graham Capital Wealth Management LLC’s holdings in Coterra Energy were worth $2,001,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Wealth Enhancement Advisory Services LLC lifted its position in Coterra Energy by 19.9% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 45,640 shares of the company’s stock valued at $1,093,000 after acquiring an additional 7,582 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its position in Coterra Energy by 12.4% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 504,280 shares of the company’s stock valued at $11,972,000 after acquiring an additional 55,486 shares during the last quarter. Heritage Oak Wealth Advisors LLC purchased a new stake in Coterra Energy in the third quarter valued at $217,000. Values First Advisors Inc. purchased a new stake in Coterra Energy in the third quarter valued at $57,000. Finally, apricus wealth LLC increased its stake in Coterra Energy by 2.8% in the third quarter. apricus wealth LLC now owns 110,155 shares of the company’s stock valued at $2,638,000 after purchasing an additional 3,025 shares during the period. 87.92% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

CTRA has been the topic of a number of recent research reports. Morgan Stanley dropped 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 research note on Monday, September 16th. Roth Capital upgraded shares of Coterra Energy from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, August 27th. BMO Capital Markets upgraded shares of Coterra Energy to a “hold” rating in a research note on Wednesday, July 3rd. Scotiabank dropped their price objective on shares of Coterra Energy from $35.00 to $32.00 and set a “sector outperform” rating on the stock in a research note on Thursday, October 10th. Finally, Truist Financial dropped their price objective on shares of Coterra Energy from $34.00 to $31.00 and set a “buy” rating on the stock in a research note on Monday, September 30th. Two investment 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’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $32.06.

Coterra Energy Trading Down 0.6 %

Shares of CTRA traded down $0.14 on Friday, hitting $23.85. 7,829,632 shares of the stock traded hands, compared to its average volume of 6,207,234. The company has a quick ratio of 1.38, a current ratio of 1.40 and a debt-to-equity ratio of 0.16. The firm has a market capitalization of $17.75 billion, a P/E ratio of 13.79, a P/E/G ratio of 1.41 and a beta of 0.22. Coterra Energy Inc. has a 1 year low of $22.30 and a 1 year high of $28.90. The stock’s 50 day moving average is $23.84 and its two-hundred day moving average is $25.82.

Coterra Energy (NYSE:CTRA) last posted its quarterly 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 analysts’ expectations of $1.32 billion. Coterra Energy had a return on equity of 10.48% and a net margin of 23.18%. The business’s revenue for the quarter was up 7.3% on a year-over-year basis. During the same period in the prior year, the business earned $0.38 EPS. As a group, sell-side analysts predict that Coterra Energy Inc. will post 1.72 earnings per share for the current year.

Coterra Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 29th. Stockholders of record on Thursday, August 15th were given a $0.21 dividend. This represents a $0.84 annualized dividend and a dividend yield of 3.52%. The ex-dividend date of this dividend was Thursday, August 15th. Coterra Energy’s payout ratio is currently 48.55%.

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.