Farther Finance Advisors LLC Buys 4,426 Shares of Coterra Energy Inc. (NYSE:CTRA)

Farther Finance Advisors LLC lifted its stake in Coterra Energy Inc. (NYSE:CTRA) by 58.6% in the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 11,978 shares of the company’s stock after purchasing an additional 4,426 shares during the quarter. Farther Finance Advisors LLC’s holdings in Coterra Energy were worth $348,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. Wellington Management Group LLP boosted its position in shares of Coterra Energy by 1.9% during the fourth quarter. Wellington Management Group LLP now owns 72,528,767 shares of the company’s stock valued at $1,852,385,000 after buying an additional 1,318,754 shares during the period. Charles Schwab Investment Management Inc. raised its holdings in shares of Coterra Energy by 5.9% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 23,467,326 shares of the company’s stock worth $599,356,000 after buying an additional 1,310,965 shares during the period. Geode Capital Management LLC lifted its stake in shares of Coterra Energy by 0.5% during the 4th quarter. Geode Capital Management LLC now owns 19,096,761 shares of the company’s stock worth $486,528,000 after acquiring an additional 96,059 shares during the last quarter. Victory Capital Management Inc. boosted its holdings in Coterra Energy by 5.0% during the 4th quarter. Victory Capital Management Inc. now owns 17,808,693 shares of the company’s stock valued at $454,834,000 after acquiring an additional 845,609 shares during the period. Finally, Invesco Ltd. boosted its holdings in Coterra Energy by 9.0% during the 4th quarter. Invesco Ltd. now owns 12,232,484 shares of the company’s stock valued at $312,418,000 after acquiring an additional 1,011,166 shares during the period. Institutional investors own 87.92% of the company’s stock.

Coterra Energy Stock Performance

Shares of Coterra Energy stock opened at $26.69 on Wednesday. The company has a market capitalization of $20.37 billion, a PE ratio of 15.52, a P/E/G ratio of 0.37 and a beta of 0.34. The company has a 50-day simple moving average of $25.04 and a two-hundred day simple moving average of $26.35. Coterra Energy Inc. has a one year low of $22.30 and a one year high of $29.95. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.86 and a current ratio of 0.90.

Coterra Energy (NYSE:CTRA) last issued its quarterly earnings data on Monday, May 5th. The company reported $0.80 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.71 by $0.09. Coterra Energy had a net margin of 21.67% and a return on equity of 10.61%. The firm had revenue of $924.00 million for the quarter, compared to the consensus estimate of $1.92 billion. During the same quarter in the previous year, the firm earned $0.51 EPS. The company’s quarterly revenue was up 32.9% compared to the same quarter last year. Research analysts expect that Coterra Energy Inc. will post 1.54 EPS for the current fiscal year.

Coterra Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 29th. Stockholders of record on Thursday, May 15th were given a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a dividend yield of 3.30%. The ex-dividend date was Thursday, May 15th. Coterra Energy’s payout ratio is presently 51.16%.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on CTRA. Morgan Stanley set a $28.00 target price on Coterra Energy in a research report on Tuesday, April 15th. Johnson Rice raised shares of Coterra Energy from a “hold” rating to an “accumulate” rating and raised their price target for the stock from $34.00 to $37.00 in a research note on Wednesday, March 12th. Mizuho lowered their price objective on shares of Coterra Energy from $38.00 to $36.00 and set an “outperform” rating for the company in a research report on Tuesday, May 13th. Wells Fargo & Company dropped their target price on shares of Coterra Energy from $33.00 to $31.00 and set an “overweight” rating on the stock in a research note on Monday. Finally, JPMorgan Chase & Co. reduced their target price on shares of Coterra Energy from $36.00 to $33.00 and set an “overweight” rating on the stock in a research report on Thursday, March 13th. Four equities research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $33.30.

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’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.