12,687 Shares in Coterra Energy Inc. (NYSE:CTRA) Purchased by Wealth Alliance Advisory Group LLC

Wealth Alliance Advisory Group LLC purchased a new stake in shares of Coterra Energy Inc. (NYSE:CTRA) in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 12,687 shares of the company’s stock, valued at approximately $304,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Bank of Montreal Can raised its holdings in shares of Coterra Energy by 160.1% in the second quarter. Bank of Montreal Can now owns 2,898,876 shares of the company’s stock valued at $80,154,000 after buying an additional 1,784,192 shares during the last quarter. SG Americas Securities LLC lifted its position in shares of Coterra Energy by 2,609.6% during the first quarter. SG Americas Securities LLC now owns 1,541,342 shares of the company’s stock worth $42,973,000 after purchasing an additional 1,484,458 shares in the last quarter. Marshall Wace LLP grew its stake in shares of Coterra Energy by 5,325.5% during the second quarter. Marshall Wace LLP now owns 1,148,569 shares of the company’s stock valued at $30,632,000 after purchasing an additional 1,127,399 shares during the last quarter. Clearbridge Investments LLC acquired a new stake in shares of Coterra Energy in the first quarter valued at approximately $28,967,000. Finally, American Century Companies Inc. raised its position in Coterra Energy by 29.1% in the 2nd quarter. American Century Companies Inc. now owns 4,498,227 shares of the company’s stock worth $119,968,000 after purchasing an additional 1,013,107 shares during the last quarter. 87.92% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

CTRA has been the topic of a number of recent research reports. Morgan Stanley decreased their price objective on Coterra Energy from $29.00 to $27.00 and set an “equal weight” rating on the stock in a research report on Monday, September 16th. Roth Mkm upgraded Coterra Energy from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $25.00 to $29.00 in a research report on Tuesday, August 27th. Truist Financial cut their target price on shares of Coterra Energy from $34.00 to $31.00 and set a “buy” rating on the stock in a research report on Monday, September 30th. Scotiabank lowered their price target on shares of Coterra Energy from $35.00 to $32.00 and set a “sector outperform” rating for the company in a research report on Thursday, October 10th. Finally, Susquehanna dropped their price target on shares of Coterra Energy from $33.00 to $30.00 and set a “positive” rating for the company in a research note on Wednesday, September 4th. Two analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $32.06.

Coterra Energy Price Performance

NYSE CTRA opened at $23.78 on Friday. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.38 and a current ratio of 1.40. Coterra Energy Inc. has a 52-week low of $22.30 and a 52-week high of $29.79. The business has a 50 day simple moving average of $23.87 and a 200 day simple moving average of $25.98. The stock has a market cap of $17.70 billion, a price-to-earnings ratio of 13.75, a PEG ratio of 1.41 and a beta of 0.22.

Coterra Energy (NYSE:CTRA) last issued its quarterly earnings data 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). The company had revenue of $1.27 billion for the quarter, compared to the consensus estimate of $1.32 billion. Coterra Energy had a return on equity of 10.48% and a net margin of 23.18%. The firm’s revenue was up 7.3% on a year-over-year basis. During the same period in the prior year, the company earned $0.38 EPS. Analysts anticipate that Coterra Energy Inc. will post 1.72 earnings per share for the current fiscal year.

Coterra Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 29th. Stockholders of record on Thursday, August 15th were given a dividend of $0.21 per share. The ex-dividend date was Thursday, August 15th. This represents a $0.84 annualized dividend and a dividend yield of 3.53%. Coterra Energy’s dividend 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.