Coterra Energy Inc. (NYSE:CTRA) Shares Acquired by Brown Advisory Inc.

Brown Advisory Inc. lifted its stake in shares of Coterra Energy Inc. (NYSE:CTRA) by 7.4% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 13,026 shares of the company’s stock after buying an additional 894 shares during the quarter. Brown Advisory Inc.’s holdings in Coterra Energy were worth $376,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in CTRA. Dark Forest Capital Management LP purchased a new stake in Coterra Energy during the fourth quarter worth approximately $942,000. State of Tennessee Department of Treasury lifted its stake in Coterra Energy by 7.1% during the fourth quarter. State of Tennessee Department of Treasury now owns 472,799 shares of the company’s stock worth $12,075,000 after purchasing an additional 31,425 shares during the last quarter. BI Asset Management Fondsmaeglerselskab A S purchased a new stake in Coterra Energy during the fourth quarter worth approximately $641,000. Intech Investment Management LLC lifted its stake in Coterra Energy by 56.7% during the fourth quarter. Intech Investment Management LLC now owns 67,858 shares of the company’s stock worth $1,733,000 after purchasing an additional 24,560 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC lifted its stake in Coterra Energy by 7.6% in the first quarter. Allspring Global Investments Holdings LLC now owns 123,054 shares of the company’s stock valued at $3,577,000 after buying an additional 8,726 shares during the last quarter. 87.92% of the stock is owned by institutional investors and hedge funds.

Coterra Energy Stock Down 3.1%

CTRA stock opened at $24.66 on Wednesday. The company has a debt-to-equity ratio of 0.30, a current ratio of 0.90 and a quick ratio of 0.86. Coterra Energy Inc. has a 1-year low of $22.30 and a 1-year high of $29.95. The firm has a fifty day moving average price of $25.22 and a two-hundred day moving average price of $26.46. The firm has a market cap of $18.82 billion, a price-to-earnings ratio of 14.34, a PEG ratio of 0.35 and a beta of 0.35.

Coterra Energy (NYSE:CTRA) last released its earnings results on Monday, May 5th. The company reported $0.80 earnings per share for the quarter, beating the consensus estimate 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 during the quarter, compared to analyst estimates of $1.92 billion. During the same quarter in the previous year, the firm earned $0.51 earnings per share. The firm’s revenue for the quarter was up 32.9% compared to the same quarter last year. Research analysts predict that Coterra Energy Inc. will post 1.54 EPS for the current year.

Coterra Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 29th. Investors of record on Thursday, May 15th were given a dividend of $0.22 per share. The ex-dividend date of this dividend was Thursday, May 15th. This represents a $0.88 dividend on an annualized basis and a yield of 3.57%. Coterra Energy’s dividend payout ratio is currently 51.16%.

Wall Street Analyst Weigh In

CTRA has been the topic of a number of recent research reports. Susquehanna dropped their target price on Coterra Energy from $34.00 to $32.00 and set a “positive” rating on the stock in a report on Tuesday, April 22nd. Piper Sandler dropped their price objective on Coterra Energy from $37.00 to $36.00 and set an “overweight” rating on the stock in a report on Tuesday, May 13th. Barclays upped their price objective on Coterra Energy from $35.00 to $37.00 and gave the stock an “overweight” rating in a report on Monday, July 7th. Wells Fargo & Company lowered their target price on Coterra Energy from $33.00 to $31.00 and set an “overweight” rating on the stock in a report on Monday, June 16th. Finally, Raymond James Financial set a $38.00 price objective on Coterra Energy and gave the company an “outperform” rating in a research note on Friday, June 13th. Four research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Coterra Energy currently has a consensus rating of “Moderate Buy” and a consensus target price of $33.20.

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.