Capital Investment Advisors LLC lifted its holdings in Coterra Energy Inc. (NYSE:CTRA – Get Rating) by 18.7% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 31,044 shares of the company’s stock after buying an additional 4,880 shares during the quarter. Capital Investment Advisors LLC’s holdings in Coterra Energy were worth $801,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently modified their holdings of CTRA. Deltec Asset Management LLC bought a new position in Coterra Energy in the 1st quarter worth about $270,000. Cascade Investment Advisors Inc. bought a new position in Coterra Energy in the 1st quarter worth about $1,464,000. Oakworth Capital Inc. bought a new position in Coterra Energy in the 1st quarter worth about $432,000. Brookstone Capital Management bought a new position in Coterra Energy in the 1st quarter worth about $716,000. Finally, Canton Hathaway LLC bought a new position in Coterra Energy in the 1st quarter worth about $189,000. 93.39% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
A number of equities analysts recently issued reports on the stock. Citigroup cut shares of Coterra Energy from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $40.00 to $27.00 in a research note on Friday, June 24th. MKM Partners restated a “neutral” rating and set a $26.00 target price on shares of Coterra Energy in a research note on Wednesday, July 20th. Piper Sandler lowered their target price on shares of Coterra Energy from $34.00 to $33.00 and set a “neutral” rating on the stock in a research note on Friday, July 22nd. Barclays upped their target price on shares of Coterra Energy from $37.00 to $43.00 and gave the company an “equal weight” rating in a research note on Wednesday, August 31st. Finally, Credit Suisse Group upped their target price on shares of Coterra Energy from $30.00 to $35.00 and gave the company a “neutral” rating in a research note on Monday, June 13th. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $33.67.
Coterra Energy Trading Down 6.6 %
Coterra Energy (NYSE:CTRA – Get Rating) last released its earnings results on Tuesday, August 2nd. The company reported $1.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.18 by $0.14. The company had revenue of $2.57 billion during the quarter, compared to analyst estimates of $2.25 billion. Coterra Energy had a net margin of 41.04% and a return on equity of 28.44%. During the same period in the prior year, the firm posted $0.25 EPS. As a group, research analysts predict that Coterra Energy Inc. will post 4.97 earnings per share for the current year.
Coterra Energy Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Thursday, August 25th. Investors of record on Monday, August 15th were issued a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 2.09%. The ex-dividend date was Friday, August 12th. Coterra Energy’s dividend payout ratio is 16.67%.
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. It primarily focuses on the Marcellus Shale with approximately 177,000 net acres in the dry gas window of the play located in Susquehanna County, Pennsylvania.
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