Geneos Wealth Management Inc. Boosts Stake in Coterra Energy Inc. $CTRA

Geneos Wealth Management Inc. grew its position in shares of Coterra Energy Inc. (NYSE:CTRA) by 29.2% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 6,417 shares of the company’s stock after purchasing an additional 1,449 shares during the period. Geneos Wealth Management Inc.’s holdings in Coterra Energy were worth $185,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the company. Focus Partners Wealth lifted its stake in Coterra Energy by 16.2% during the first quarter. Focus Partners Wealth now owns 712,564 shares of the company’s stock worth $20,593,000 after purchasing an additional 99,558 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in Coterra Energy by 10.3% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 3,183,663 shares of the company’s stock worth $92,008,000 after purchasing an additional 297,074 shares during the last quarter. Empowered Funds LLC lifted its stake in Coterra Energy by 6.5% during the first quarter. Empowered Funds LLC now owns 593,950 shares of the company’s stock worth $17,165,000 after purchasing an additional 36,028 shares during the last quarter. Dean Capital Management lifted its stake in Coterra Energy by 2.3% during the first quarter. Dean Capital Management now owns 51,608 shares of the company’s stock worth $1,491,000 after purchasing an additional 1,146 shares during the last quarter. Finally, RNC Capital Management LLC lifted its stake in Coterra Energy by 4.0% during the first quarter. RNC Capital Management LLC now owns 57,103 shares of the company’s stock worth $1,650,000 after purchasing an additional 2,218 shares during the last quarter. Institutional investors own 87.92% of the company’s stock.

Coterra Energy Stock Performance

Shares of CTRA opened at $24.56 on Wednesday. The business’s fifty day simple moving average is $24.11 and its two-hundred day simple moving average is $25.27. The company has a current ratio of 1.13, a quick ratio of 1.08 and a debt-to-equity ratio of 0.29. Coterra Energy Inc. has a 12 month low of $22.46 and a 12 month high of $29.95. The company has a market cap of $18.74 billion, a price-to-earnings ratio of 11.75, a P/E/G ratio of 0.33 and a beta of 0.34.

Coterra Energy (NYSE:CTRA) last issued its earnings results on Monday, August 4th. The company reported $0.48 EPS for the quarter, missing the consensus estimate of $0.50 by ($0.02). Coterra Energy had a net margin of 23.80% and a return on equity of 10.99%. The business had revenue of $1.97 billion for the quarter, compared to analysts’ expectations of $1.78 billion. During the same quarter in the prior year, the business posted $0.37 earnings per share. The business’s revenue for the quarter was up 54.6% on a year-over-year basis. Research analysts anticipate that Coterra Energy Inc. will post 1.54 earnings per share for the current fiscal year.

Coterra Energy Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, August 28th. Investors of record on Thursday, August 14th were issued a $0.22 dividend. The ex-dividend date was Thursday, August 14th. This represents a $0.88 annualized dividend and a yield of 3.6%. Coterra Energy’s dividend payout ratio (DPR) is currently 42.11%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on CTRA shares. Wells Fargo & Company boosted their target price on Coterra Energy from $32.00 to $33.00 and gave the company an “overweight” rating in a research note on Thursday, August 14th. The Goldman Sachs Group reissued a “neutral” rating and issued a $31.00 target price on shares of Coterra Energy in a research note on Tuesday, July 1st. Raymond James Financial reissued an “outperform” rating and issued a $34.00 target price (down previously from $38.00) on shares of Coterra Energy in a research note on Thursday, September 11th. Scotiabank reissued an “outperform” rating on shares of Coterra Energy in a research note on Friday, July 11th. Finally, Piper Sandler boosted their target price on Coterra Energy from $37.00 to $39.00 and gave the company an “overweight” rating in a research note on Thursday, August 14th. Fourteen investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $33.22.

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.