Toroso Investments LLC Buys 7,992 Shares of Coterra Energy Inc. (NYSE:CTRA)

Toroso Investments LLC raised its stake in shares of Coterra Energy Inc. (NYSE:CTRA – Get Rating) by 14.7% in the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 62,408 shares of the company’s stock after purchasing an additional 7,992 shares during the period. Toroso Investments LLC’s holdings in Coterra Energy were worth $1,630,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Guardian Wealth Advisors LLC bought a new position in shares of Coterra Energy in the third quarter worth about $30,000. Achmea Investment Management B.V. bought a new position in shares of Coterra Energy in the first quarter worth about $41,000. McIlrath & Eck LLC boosted its stake in shares of Coterra Energy by 703.5% in the third quarter. McIlrath & Eck LLC now owns 1,599 shares of the company’s stock worth $42,000 after acquiring an additional 1,400 shares during the period. TFC Financial Management boosted its stake in shares of Coterra Energy by 3,018.9% in the third quarter. TFC Financial Management now owns 1,653 shares of the company’s stock worth $43,000 after acquiring an additional 1,600 shares during the period. Finally, Carolinas Wealth Consulting LLC bought a new position in shares of Coterra Energy in the first quarter worth about $46,000. Institutional investors own 94.72% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the company. Tudor Pickering lowered Coterra Energy from a “buy” rating to a “hold” rating in a research note on Wednesday, November 30th. Wells Fargo & Company decreased their target price on Coterra Energy from $28.00 to $27.00 and set an “equal weight” rating on the stock in a research report on Thursday, March 9th. The Goldman Sachs Group boosted their target price on Coterra Energy from $27.00 to $30.00 and gave the stock a “buy” rating in a research report on Friday, March 10th. Tudor, Pickering, Holt & Co. downgraded Coterra Energy from a “buy” rating to a “hold” rating in a research report on Wednesday, November 30th. Finally, Raymond James downgraded Coterra Energy from an “outperform” rating to a “market perform” rating in a research report on Monday, February 6th. One research analyst has rated the stock with a sell rating, sixteen have given a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, Coterra Energy presently has an average rating of “Hold” and a consensus target price of $30.50.

Coterra Energy Trading Down 1.4 %

Shares of NYSE CTRA opened at $23.19 on Friday. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.80 and a current ratio of 1.85. The business’s 50 day moving average price is $24.78 and its 200-day moving average price is $26.67. Coterra Energy Inc. has a fifty-two week low of $22.25 and a fifty-two week high of $36.55. The company has a market cap of $17.82 billion, a price-to-earnings ratio of 4.54, a PEG ratio of 0.16 and a beta of 0.25.

Coterra Energy (NYSE:CTRA – Get Rating) last issued its quarterly earnings results on Wednesday, February 22nd. The company reported $1.14 earnings per share for the quarter, topping the consensus estimate of $1.10 by $0.04. Coterra Energy had a return on equity of 31.29% and a net margin of 44.91%. The firm had revenue of $2.28 billion for the quarter, compared to the consensus estimate of $2.15 billion. On average, sell-side analysts expect that Coterra Energy Inc. will post 2.8 earnings per share for the current year.

Coterra Energy Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 30th. Investors of record on Thursday, March 16th will be paid a $0.57 dividend. The ex-dividend date of this dividend is Wednesday, March 15th. This represents a $2.28 annualized dividend and a yield of 9.83%. Coterra Energy’s dividend payout ratio (DPR) is currently 11.74%.

About Coterra Energy

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Coterra Energy Inc is a diversified energy company, which engages in the exploration, development, and production of oil and natural gas properties. Its portfolio includes projects in the Permian Basin, the Marcellus Shale, and the Anadarko Basin. The company was renamed to Coterra Energy Inc on October 1, 2021 in connection with the merger involving Cabot Oil & Gas Corp.