Core Alternative Capital Acquires 10,081 Shares of Coterra Energy Inc. (NYSE:CTRA)

Core Alternative Capital boosted its holdings in Coterra Energy Inc. (NYSE:CTRA) by 13.9% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 82,480 shares of the company’s stock after buying an additional 10,081 shares during the period. Core Alternative Capital’s holdings in Coterra Energy were worth $2,200,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Fortitude Family Office LLC lifted its position in Coterra Energy by 154.9% during the second quarter. Fortitude Family Office LLC now owns 933 shares of the company’s stock valued at $25,000 after purchasing an additional 567 shares during the last quarter. Larson Financial Group LLC grew its position in Coterra Energy by 98.0% in the second quarter. Larson Financial Group LLC now owns 1,081 shares of the company’s stock worth $29,000 after acquiring an additional 535 shares in the last quarter. Central Pacific Bank Trust Division purchased a new position in Coterra Energy in the first quarter worth $44,000. Harbor Investment Advisory LLC increased its stake in Coterra Energy by 869.3% in the first quarter. Harbor Investment Advisory LLC now owns 1,609 shares of the company’s stock valued at $45,000 after acquiring an additional 1,443 shares during the last quarter. Finally, Northwest Investment Counselors LLC purchased a new stake in Coterra Energy during the first quarter valued at about $47,000. 87.92% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the stock. BMO Capital Markets upgraded shares of Coterra Energy to a “hold” rating in a report on Wednesday, July 3rd. Susquehanna decreased their price objective on shares of Coterra Energy from $33.00 to $30.00 and set a “positive” rating on the stock in a research report on Wednesday, September 4th. Roth Capital upgraded shares of Coterra Energy from a “hold” rating to a “strong-buy” rating in a report on Tuesday, August 27th. Roth Mkm raised Coterra Energy from a “neutral” rating to a “buy” rating and upped their price target for the company from $25.00 to $29.00 in a research report on Tuesday, August 27th. Finally, Truist Financial dropped their price target on Coterra Energy from $35.00 to $34.00 and set a “buy” rating for the company in a research note on Monday, July 22nd. Two research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $32.59.

Coterra Energy Price Performance

Shares of NYSE:CTRA opened at $23.74 on Monday. The firm has a market cap of $17.67 billion, a price-to-earnings ratio of 13.72, a price-to-earnings-growth ratio of 1.37 and a beta of 0.22. The business has a 50-day simple moving average of $24.07 and a two-hundred day simple moving average of $26.30. Coterra Energy Inc. has a fifty-two week low of $22.30 and a fifty-two week high of $29.89. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.38 and a current ratio of 1.40.

Coterra Energy (NYSE:CTRA) last posted its quarterly earnings data on Thursday, August 1st. The company reported $0.37 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.02). The business had revenue of $1.27 billion during the quarter, compared to analysts’ expectations of $1.32 billion. Coterra Energy had a return on equity of 10.48% and a net margin of 23.18%. The business’s quarterly revenue was up 7.3% compared to the same quarter last year. During the same period in the previous year, the business posted $0.38 EPS. On average, analysts expect that Coterra Energy Inc. will post 1.74 earnings per share for the current year.

Coterra Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 29th. Stockholders of record on Thursday, August 15th were given a dividend of $0.21 per share. The ex-dividend date was Thursday, August 15th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 3.54%. Coterra Energy’s payout ratio is currently 48.55%.

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.