Elm Partners Management LLC Purchases Shares of 27,540 Coterra Energy Inc. $CTRA

Elm Partners Management LLC purchased a new stake in Coterra Energy Inc. (NYSE:CTRA) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm purchased 27,540 shares of the company’s stock, valued at approximately $699,000.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. Tectonic Advisors LLC raised its holdings in shares of Coterra Energy by 3.2% in the 1st quarter. Tectonic Advisors LLC now owns 14,834 shares of the company’s stock valued at $429,000 after acquiring an additional 459 shares in the last quarter. Hartford Funds Management Co LLC raised its holdings in shares of Coterra Energy by 1.4% in the 1st quarter. Hartford Funds Management Co LLC now owns 35,301 shares of the company’s stock valued at $1,020,000 after acquiring an additional 472 shares in the last quarter. Horizon Investments LLC raised its holdings in shares of Coterra Energy by 4.5% in the 1st quarter. Horizon Investments LLC now owns 10,935 shares of the company’s stock valued at $316,000 after acquiring an additional 474 shares in the last quarter. Argonautica Private Wealth Management Inc. raised its holdings in shares of Coterra Energy by 4.0% in the 1st quarter. Argonautica Private Wealth Management Inc. now owns 12,282 shares of the company’s stock valued at $355,000 after acquiring an additional 477 shares in the last quarter. Finally, Private Trust Co. NA raised its holdings in shares of Coterra Energy by 23.4% in the 1st quarter. Private Trust Co. NA now owns 2,640 shares of the company’s stock valued at $76,000 after acquiring an additional 500 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 opened at $23.69 on Friday. The stock’s 50-day moving average is $23.76 and its 200 day moving average is $24.44. The company has a current ratio of 1.13, a quick ratio of 1.08 and a debt-to-equity ratio of 0.29. Coterra Energy Inc. has a 1-year low of $22.33 and a 1-year high of $29.95. The stock has a market cap of $18.07 billion, a price-to-earnings ratio of 11.33, a P/E/G ratio of 0.36 and a beta of 0.29.

Coterra Energy (NYSE:CTRA) last posted its quarterly earnings results on Monday, August 4th. The company reported $0.48 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.50 by ($0.02). Coterra Energy had a return on equity of 10.99% and a net margin of 23.80%.The company had revenue of $1.97 billion for the quarter, compared to the consensus estimate of $1.78 billion. During the same quarter in the previous year, the business earned $0.37 earnings per share. Coterra Energy’s revenue was up 54.6% compared to the same quarter last year. On average, sell-side analysts anticipate that Coterra Energy Inc. will post 1.54 EPS for the current fiscal year.

Coterra Energy Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, August 28th. Investors of record on Thursday, August 14th were given a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a yield of 3.7%. The ex-dividend date was Thursday, August 14th. Coterra Energy’s dividend payout ratio (DPR) is presently 42.11%.

Analyst Ratings Changes

Several analysts have weighed in on CTRA shares. Siebert Williams Shank lowered their price target on Coterra Energy from $35.00 to $32.00 and set a “buy” rating on the stock in a report on Monday, October 13th. Wells Fargo & Company raised their price objective on Coterra Energy from $32.00 to $33.00 and gave the company an “overweight” rating in a report on Thursday, August 14th. Raymond James Financial decreased their price objective on Coterra Energy from $34.00 to $28.00 in a report on Tuesday, October 28th. The Goldman Sachs Group decreased their price objective on Coterra Energy from $30.00 to $29.00 and set a “neutral” rating on the stock in a report on Wednesday, October 15th. Finally, Piper Sandler decreased their price objective on Coterra Energy from $39.00 to $38.00 and set an “overweight” rating on the stock in a report on Tuesday, October 21st. Sixteen research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $32.30.

Coterra Energy Profile

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.