MassMutual Private Wealth & Trust FSB Purchases 555 Shares of Coterra Energy Inc. $CTRA

MassMutual Private Wealth & Trust FSB increased its position in shares of Coterra Energy Inc. (NYSE:CTRA) by 26.1% in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 2,685 shares of the company’s stock after buying an additional 555 shares during the quarter. MassMutual Private Wealth & Trust FSB’s holdings in Coterra Energy were worth $68,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Donald L. Hagan LLC grew its stake in Coterra Energy by 1.1% in the first quarter. Donald L. Hagan LLC now owns 35,754 shares of the company’s stock valued at $1,033,000 after purchasing an additional 401 shares in the last quarter. Investors Research Corp grew its stake in Coterra Energy by 45.2% in the first quarter. Investors Research Corp now owns 1,311 shares of the company’s stock valued at $38,000 after purchasing an additional 408 shares in the last quarter. Saxon Interests Inc. grew its stake in Coterra Energy by 5.1% in the first quarter. Saxon Interests Inc. now owns 9,319 shares of the company’s stock valued at $269,000 after purchasing an additional 451 shares in the last quarter. Tectonic Advisors LLC grew its stake in Coterra Energy by 3.2% in the first quarter. Tectonic Advisors LLC now owns 14,834 shares of the company’s stock valued at $429,000 after purchasing an additional 459 shares in the last quarter. Finally, Procyon Advisors LLC grew its stake in Coterra Energy by 3.6% in the first quarter. Procyon Advisors LLC now owns 13,460 shares of the company’s stock valued at $389,000 after purchasing an additional 469 shares in the last quarter. 87.92% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts have weighed in on CTRA shares. Raymond James Financial restated an “outperform” rating and issued a $34.00 price target (down from $38.00) on shares of Coterra Energy in a research note on Thursday, September 11th. Barclays raised their price target on Coterra Energy from $35.00 to $37.00 and gave the company an “overweight” rating in a research note on Monday, July 7th. Piper Sandler raised their price target on Coterra Energy from $37.00 to $39.00 and gave the company an “overweight” rating in a research note on Thursday, August 14th. Scotiabank reaffirmed an “outperform” rating on shares of Coterra Energy in a research report on Friday, July 11th. Finally, The Goldman Sachs Group reaffirmed a “neutral” rating and issued a $31.00 price objective on shares of Coterra Energy in a research report on Tuesday, July 1st. Fourteen investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $33.22.

Coterra Energy Trading Down 3.4%

Shares of CTRA opened at $23.28 on Friday. Coterra Energy Inc. has a 52-week low of $22.46 and a 52-week high of $29.95. The business’s fifty day moving average is $24.03 and its 200-day moving average is $25.22. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.08 and a current ratio of 1.13. The firm has a market cap of $17.77 billion, a price-to-earnings ratio of 11.14, a PEG ratio of 0.33 and a beta of 0.34.

Coterra Energy (NYSE:CTRA) last issued its quarterly earnings results on Monday, August 4th. The company reported $0.48 earnings per share (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 during the quarter, compared to the consensus estimate of $1.78 billion. During the same quarter in the previous year, the business posted $0.37 EPS. The company’s revenue for the quarter was up 54.6% on a year-over-year basis. Equities analysts anticipate that Coterra Energy Inc. will post 1.54 EPS for the current fiscal year.

Coterra Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 28th. Investors of record on Thursday, August 14th were given a dividend of $0.22 per share. The ex-dividend date was Thursday, August 14th. This represents a $0.88 dividend on an annualized basis and a yield of 3.8%. Coterra Energy’s payout ratio is currently 42.11%.

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.