Oppenheimer Asset Management Inc. Acquires Shares of 9,684 Coterra Energy Inc. $CTRA

Oppenheimer Asset Management Inc. acquired a new stake in shares of Coterra Energy Inc. (NYSE:CTRA) in the second quarter, according to its most recent disclosure with the SEC. The firm acquired 9,684 shares of the company’s stock, valued at approximately $246,000.

A number of other institutional investors have also added to or reduced their stakes in the stock. Tectonic Advisors LLC grew its holdings in Coterra Energy by 3.2% during the 1st quarter. Tectonic Advisors LLC now owns 14,834 shares of the company’s stock valued at $429,000 after buying an additional 459 shares in the last quarter. Hartford Funds Management Co LLC grew its holdings in Coterra Energy by 1.4% during the 1st quarter. Hartford Funds Management Co LLC now owns 35,301 shares of the company’s stock valued at $1,020,000 after buying an additional 472 shares in the last quarter. Horizon Investments LLC raised its holdings in shares of Coterra Energy by 4.5% during the 1st quarter. Horizon Investments LLC now owns 10,935 shares of the company’s stock worth $316,000 after acquiring an additional 474 shares in the last quarter. Argonautica Private Wealth Management Inc. raised its holdings in shares of Coterra Energy by 4.0% during the 1st quarter. Argonautica Private Wealth Management Inc. now owns 12,282 shares of the company’s stock worth $355,000 after acquiring an additional 477 shares in the last quarter. Finally, Private Trust Co. NA raised its holdings in shares of Coterra Energy by 23.4% during the 1st quarter. Private Trust Co. NA now owns 2,640 shares of the company’s stock worth $76,000 after acquiring an additional 500 shares in the last quarter. 87.92% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the company. UBS Group decreased their price objective on Coterra Energy from $30.00 to $29.00 and set a “buy” rating on the stock in a report on Tuesday, October 14th. Susquehanna decreased their price objective on Coterra Energy from $32.00 to $31.00 and set a “positive” rating on the stock in a report on Monday, October 20th. Siebert Williams Shank decreased their price objective on Coterra Energy from $35.00 to $32.00 and set a “buy” rating on the stock in a report on Monday, October 13th. Barclays decreased their price objective on Coterra Energy from $37.00 to $35.00 and set an “overweight” rating on the stock in a report on Tuesday, October 7th. Finally, Zacks Research cut Coterra Energy from a “hold” rating to a “strong sell” rating in a report on Monday, October 13th. Sixteen research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Coterra Energy presently has a consensus rating of “Moderate Buy” and a consensus target price of $32.30.

Coterra Energy Stock Up 1.2%

NYSE CTRA opened at $23.69 on Monday. The company has a quick ratio of 1.08, a current ratio of 1.13 and a debt-to-equity ratio of 0.29. The company has a fifty day moving average of $23.76 and a two-hundred day moving average of $24.43. The firm has a market capitalization of $18.07 billion, a price-to-earnings ratio of 11.33, a PEG ratio of 0.36 and a beta of 0.29. Coterra Energy Inc. has a 52 week low of $22.33 and a 52 week high of $29.95.

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

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.