30,646 Shares in Coterra Energy Inc. (NYSE:CTRA) Bought by Titleist Asset Management LLC

Titleist Asset Management LLC acquired a new stake in shares of Coterra Energy Inc. (NYSE:CTRA) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 30,646 shares of the company’s stock, valued at approximately $752,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in CTRA. Louisiana State Employees Retirement System raised its position in shares of Coterra Energy by 0.8% during the 1st quarter. Louisiana State Employees Retirement System now owns 51,300 shares of the company’s stock valued at $1,259,000 after buying an additional 400 shares in the last quarter. Csenge Advisory Group raised its position in Coterra Energy by 4.7% during the first quarter. Csenge Advisory Group now owns 9,562 shares of the company’s stock valued at $235,000 after purchasing an additional 432 shares in the last quarter. Quadrant Capital Group LLC raised its position in Coterra Energy by 3.6% during the fourth quarter. Quadrant Capital Group LLC now owns 12,558 shares of the company’s stock valued at $309,000 after purchasing an additional 439 shares in the last quarter. First Horizon Advisors Inc. lifted its stake in Coterra Energy by 38.8% during the fourth quarter. First Horizon Advisors Inc. now owns 1,577 shares of the company’s stock worth $39,000 after purchasing an additional 441 shares during the last quarter. Finally, Echo Street Capital Management LLC boosted its holdings in shares of Coterra Energy by 5.5% in the 4th quarter. Echo Street Capital Management LLC now owns 9,084 shares of the company’s stock worth $223,000 after purchasing an additional 477 shares in the last quarter. 90.54% of the stock is currently owned by hedge funds and other institutional investors.

Coterra Energy Stock Performance

Shares of Coterra Energy stock opened at $28.31 on Thursday. Coterra Energy Inc. has a 12 month low of $22.25 and a 12 month high of $32.47. The firm has a market capitalization of $21.37 billion, a P/E ratio of 7.09, a P/E/G ratio of 0.23 and a beta of 0.29. The company has a current ratio of 1.74, a quick ratio of 1.67 and a debt-to-equity ratio of 0.17. The business has a fifty day simple moving average of $27.39 and a two-hundred day simple moving average of $25.68.

Coterra Energy (NYSE:CTRA) last issued its quarterly earnings results on Monday, August 7th. The company reported $0.38 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.36 by $0.02. The company had revenue of $1.19 billion during the quarter, compared to analysts’ expectations of $1.28 billion. Coterra Energy had a net margin of 40.12% and a return on equity of 23.06%. On average, equities analysts forecast that Coterra Energy Inc. will post 2.25 earnings per share for the current fiscal year.

Coterra Energy Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, August 31st. Investors of record on Thursday, August 17th were paid a $0.20 dividend. The ex-dividend date of this dividend was Wednesday, August 16th. This represents a $0.80 annualized dividend and a dividend yield of 2.83%. Coterra Energy’s payout ratio is currently 20.05%.

Analyst Ratings Changes

A number of analysts recently weighed in on the company. JPMorgan Chase & Co. upgraded Coterra Energy from a “neutral” rating to an “overweight” rating and dropped their target price for the stock from $33.00 to $31.00 in a research report on Tuesday, June 27th. Mizuho increased their target price on shares of Coterra Energy from $39.00 to $42.00 and gave the company a “buy” rating in a report on Wednesday, August 16th. Morgan Stanley boosted their price target on shares of Coterra Energy from $26.00 to $27.00 and gave the stock an “equal weight” rating in a research note on Friday, August 18th. Piper Sandler raised Coterra Energy from a “neutral” rating to an “overweight” rating and raised their price objective for the company from $30.00 to $35.00 in a research note on Monday, August 14th. Finally, Stephens reissued an “overweight” rating and issued a $32.00 target price on shares of Coterra Energy in a research note on Tuesday, August 8th. Thirteen research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, Coterra Energy presently has a consensus rating of “Hold” and a consensus price target of $31.00.

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 primarily focuses on the Marcellus Shale with approximately 183,000 net acres in the dry gas window of the play located in Susquehanna County, Pennsylvania.