HB Wealth Management LLC Purchases 3,887 Shares of Coterra Energy Inc. $CTRA

HB Wealth Management LLC boosted its position in shares of Coterra Energy Inc. (NYSE:CTRA) by 35.5% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 14,846 shares of the company’s stock after buying an additional 3,887 shares during the period. HB Wealth Management LLC’s holdings in Coterra Energy were worth $377,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the company. Cornerstone Planning Group LLC increased its stake in Coterra Energy by 175.6% in the 1st quarter. Cornerstone Planning Group LLC now owns 871 shares of the company’s stock worth $25,000 after acquiring an additional 555 shares during the last quarter. Raleigh Capital Management Inc. grew its holdings in shares of Coterra Energy by 463.5% in the first quarter. Raleigh Capital Management Inc. now owns 896 shares of the company’s stock valued at $26,000 after purchasing an additional 737 shares in the last quarter. Banque Cantonale Vaudoise bought a new stake in Coterra Energy in the first quarter worth $29,000. Wayfinding Financial LLC bought a new stake in Coterra Energy in the first quarter worth $34,000. Finally, Catalyst Capital Advisors LLC purchased a new stake in Coterra Energy during the first quarter valued at $46,000. Hedge funds and other institutional investors own 87.92% of the company’s stock.

Coterra Energy Price Performance

Coterra Energy stock opened at $23.30 on Monday. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.13 and a quick ratio of 1.08. The stock has a market cap of $17.78 billion, a price-to-earnings ratio of 11.15, a price-to-earnings-growth ratio of 0.33 and a beta of 0.29. The firm has a 50-day moving average of $23.93 and a two-hundred day moving average of $24.93. Coterra Energy Inc. has a 1 year low of $22.46 and a 1 year high of $29.95.

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

Coterra Energy Announces Dividend

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

Analyst Upgrades and Downgrades

A number of brokerages have commented on CTRA. Raymond James Financial reissued an “outperform” rating and issued a $34.00 price objective (down from $38.00) on shares of Coterra Energy in a research note on Thursday, September 11th. Wells Fargo & Company increased their price target on shares of Coterra Energy from $32.00 to $33.00 and gave the company an “overweight” rating in a report on Thursday, August 14th. Mizuho dropped their price target on Coterra Energy from $36.00 to $33.00 and set an “outperform” rating for the company in a research report on Monday, September 15th. Weiss Ratings reissued a “hold (c)” rating on shares of Coterra Energy in a research note on Saturday, September 27th. Finally, Barclays upped their price objective on Coterra Energy from $35.00 to $37.00 and gave the company an “overweight” rating in a research report on Monday, July 7th. Fourteen investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $33.22.

Coterra Energy Company 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.