Capital Investment Advisors LLC Raises Stock Holdings in Coterra Energy Inc. (NYSE:CTRA)

Capital Investment Advisors LLC boosted its stake in Coterra Energy Inc. (NYSE:CTRA – Get Rating) by 4.5% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 33,282 shares of the company’s stock after buying an additional 1,427 shares during the period. Capital Investment Advisors LLC’s holdings in Coterra Energy were worth $818,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of CTRA. Vanguard Group Inc. purchased a new stake in Coterra Energy in the 1st quarter valued at about $2,472,575,000. State Street Corp purchased a new stake in Coterra Energy during the first quarter worth about $1,493,855,000. Northern Trust Corp purchased a new stake in Coterra Energy during the first quarter worth about $300,998,000. Price T Rowe Associates Inc. MD increased its stake in Coterra Energy by 599.3% during the second quarter. Price T Rowe Associates Inc. MD now owns 8,710,084 shares of the company’s stock worth $224,633,000 after purchasing an additional 7,464,583 shares during the period. Finally, Invesco Ltd. purchased a new stake in Coterra Energy during the first quarter worth about $169,781,000. 94.72% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts have issued reports on the stock. Piper Sandler cut their price target on shares of Coterra Energy from $32.00 to $30.00 and set a “neutral” rating on the stock in a research note on Tuesday, March 7th. Bank of America upgraded shares of Coterra Energy from an “underperform” rating to a “neutral” rating and cut their price target for the stock from $30.00 to $29.00 in a research note on Friday, January 6th. Wells Fargo & Company cut their price target on shares of Coterra Energy from $28.00 to $27.00 and set an “equal weight” rating on the stock in a research note on Thursday, March 9th. Mizuho cut their price target on shares of Coterra Energy from $40.00 to $38.00 in a research note on Friday, March 10th. Finally, Citigroup downgraded Coterra Energy from a “neutral” rating to a “sell” rating and lowered their price objective for the stock from $27.00 to $23.00 in a research report on Wednesday, December 7th. One equities research analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $30.50.

Coterra Energy Price Performance

CTRA stock opened at $23.19 on Friday. The company has a market capitalization of $17.82 billion, a P/E ratio of 4.54, a PEG ratio of 0.15 and a beta of 0.25. Coterra Energy Inc. has a twelve month low of $22.25 and a twelve month high of $36.55. The business has a 50 day simple moving average of $24.78 and a 200-day simple moving average of $26.65. The company has a current ratio of 1.85, a quick ratio of 1.80 and a debt-to-equity ratio of 0.17.

Coterra Energy (NYSE:CTRA – Get Rating) last posted its quarterly earnings data on Wednesday, February 22nd. The company reported $1.14 earnings per share for the quarter, beating the consensus estimate of $1.10 by $0.04. The business had revenue of $2.28 billion during the quarter, compared to the consensus estimate of $2.15 billion. Coterra Energy had a return on equity of 31.29% and a net margin of 44.91%. As a group, equities analysts anticipate that Coterra Energy Inc. will post 2.8 EPS for the current year.

Coterra Energy Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 30th. Stockholders of record on Thursday, March 16th will be issued a $0.57 dividend. This represents a $2.28 annualized dividend and a dividend yield of 9.83%. The ex-dividend date is Wednesday, March 15th. Coterra Energy’s payout ratio is currently 15.66%.

Coterra Energy Profile

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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.