AAFMAA Wealth Management & Trust LLC Boosts Position in Coterra Energy Inc. (NYSE:CTRA)

AAFMAA Wealth Management & Trust LLC raised its stake in shares of Coterra Energy Inc. (NYSE:CTRA) by 8.6% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 40,672 shares of the company’s stock after buying an additional 3,232 shares during the quarter. AAFMAA Wealth Management & Trust LLC’s holdings in Coterra Energy were worth $1,085,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in CTRA. International Assets Investment Management LLC purchased a new position in shares of Coterra Energy during the fourth quarter worth about $1,396,000. Cerity Partners LLC grew its holdings in shares of Coterra Energy by 74.2% during the fourth quarter. Cerity Partners LLC now owns 55,004 shares of the company’s stock worth $1,403,000 after purchasing an additional 23,420 shares in the last quarter. Tennessee Valley Asset Management Partners purchased a new position in shares of Coterra Energy during the fourth quarter worth about $33,000. Louisiana State Employees Retirement System purchased a new position in shares of Coterra Energy during the fourth quarter worth about $1,161,000. Finally, Strs Ohio grew its holdings in shares of Coterra Energy by 53.1% during the fourth quarter. Strs Ohio now owns 60,622 shares of the company’s stock worth $1,547,000 after purchasing an additional 21,016 shares in the last quarter. Hedge funds and other institutional investors own 87.92% of the company’s stock.

Coterra Energy Stock Performance

Shares of NYSE:CTRA traded up $0.48 during midday trading on Monday, reaching $24.51. 5,092,296 shares of the company’s stock traded hands, compared to its average volume of 6,423,212. The company has a market cap of $18.24 billion, a price-to-earnings ratio of 13.89, a P/E/G ratio of 1.49 and a beta of 0.24. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.46 and a current ratio of 1.49. Coterra Energy Inc. has a one year low of $23.18 and a one year high of $29.89. The stock has a 50 day moving average of $26.12 and a 200 day moving average of $26.67.

Coterra Energy (NYSE:CTRA) last announced its quarterly earnings results on Thursday, August 1st. The company reported $0.37 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.02). The business had revenue of $1.27 billion for the quarter, compared to the consensus estimate of $1.32 billion. Coterra Energy had a net margin of 23.18% and a return on equity of 10.49%. The company’s revenue for the quarter was up 7.3% compared to the same quarter last year. During the same period in the previous year, the company earned $0.38 earnings per share. As a group, equities research analysts anticipate that Coterra Energy Inc. will post 2.02 EPS for the current fiscal year.

Coterra Energy Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, August 29th. Shareholders of record on Thursday, August 15th will be issued a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a yield of 3.43%. The ex-dividend date is Thursday, August 15th. Coterra Energy’s dividend payout ratio is 48.55%.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the company. Piper Sandler dropped their target price on Coterra Energy from $39.00 to $31.00 and set an “overweight” rating for the company in a research report on Thursday. Wolfe Research began coverage on Coterra Energy in a research report on Thursday, July 18th. They issued an “outperform” rating and a $35.00 target price for the company. Citigroup boosted their price objective on Coterra Energy from $30.00 to $31.00 and gave the company a “buy” rating in a research report on Friday, May 24th. Susquehanna boosted their price objective on Coterra Energy from $32.00 to $33.00 and gave the company a “positive” rating in a research report on Tuesday, May 7th. Finally, BMO Capital Markets upgraded Coterra Energy to a “hold” rating in a research report on Wednesday, July 3rd. Two research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $33.56.

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.