1832 Asset Management L.P. Purchases 7,797 Shares of Coterra Energy Inc. (NYSE:CTRA)

1832 Asset Management L.P. lifted its position in shares of Coterra Energy Inc. (NYSE:CTRA) by 8.1% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 104,267 shares of the company’s stock after purchasing an additional 7,797 shares during the period. 1832 Asset Management L.P.’s holdings in Coterra Energy were worth $2,907,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Redwood Wealth Management Group LLC boosted its position in Coterra Energy by 2.3% in the first quarter. Redwood Wealth Management Group LLC now owns 18,974 shares of the company’s stock worth $529,000 after purchasing an additional 429 shares during the last quarter. Stone House Investment Management LLC raised its position in Coterra Energy by 32.4% in the fourth quarter. Stone House Investment Management LLC now owns 1,791 shares of the company’s stock worth $46,000 after acquiring an additional 438 shares during the period. Quent Capital LLC grew its position in shares of Coterra Energy by 8.1% during the 1st quarter. Quent Capital LLC now owns 5,924 shares of the company’s stock valued at $165,000 after acquiring an additional 446 shares during the period. Financial Advisors Network Inc. increased its stake in shares of Coterra Energy by 3.6% during the 4th quarter. Financial Advisors Network Inc. now owns 14,575 shares of the company’s stock worth $372,000 after purchasing an additional 501 shares during the last quarter. Finally, Poehling Capital Management INC. raised its holdings in shares of Coterra Energy by 0.8% in the 1st quarter. Poehling Capital Management INC. now owns 70,632 shares of the company’s stock worth $1,969,000 after purchasing an additional 533 shares during the period. 87.92% of the stock is owned by institutional investors.

Analysts Set New Price Targets

CTRA has been the subject of several research reports. JPMorgan Chase & Co. increased their price target on Coterra Energy from $29.00 to $30.00 and gave the stock an “overweight” rating in a research note on Thursday, April 4th. Piper Sandler boosted their target price on shares of Coterra Energy from $37.00 to $39.00 and gave the company an “overweight” rating in a report on Tuesday, May 14th. Scotiabank lifted their price target 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. BMO Capital Markets raised Coterra Energy to a “hold” rating in a report on Wednesday, July 3rd. Finally, Citigroup increased their price target on shares of Coterra Energy from $30.00 to $31.00 and gave the stock a “buy” rating in a report on Friday, May 24th. Two equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $33.94.

Coterra Energy Trading Up 0.2 %

Shares of Coterra Energy stock traded up $0.06 on Friday, hitting $25.78. The stock had a trading volume of 4,015,303 shares, compared to its average volume of 4,993,731. The stock’s 50-day simple moving average is $27.10 and its two-hundred day simple moving average is $26.72. Coterra Energy Inc. has a one year low of $23.73 and a one year high of $29.89. The company has a quick ratio of 1.46, a current ratio of 1.49 and a debt-to-equity ratio of 0.16. The stock has a market cap of $19.19 billion, a price-to-earnings ratio of 14.90, a PEG ratio of 1.51 and a beta of 0.24.

Coterra Energy (NYSE:CTRA) last released its quarterly earnings data on Thursday, May 2nd. The company reported $0.50 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.41 by $0.09. The firm had revenue of $1.43 billion for the quarter, compared to analysts’ expectations of $1.38 billion. Coterra Energy had a net margin of 23.34% and a return on equity of 10.75%. As a group, sell-side analysts predict that Coterra Energy Inc. will post 2.01 EPS for the current year.

Coterra Energy Dividend Announcement

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 3.26%. The ex-dividend date of this dividend was Wednesday, May 15th. Coterra Energy’s dividend payout ratio (DPR) 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.