Benedict Financial Advisors Inc. Buys 37,850 Shares of Coterra Energy Inc. $CTRA

Benedict Financial Advisors Inc. lifted its stake in Coterra Energy Inc. (NYSE:CTRA) by 157.5% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 61,878 shares of the company’s stock after buying an additional 37,850 shares during the period. Benedict Financial Advisors Inc.’s holdings in Coterra Energy were worth $1,570,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of CTRA. Horizon Investments LLC grew its position in 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 during the last quarter. Wellington Shields Capital Management LLC boosted its stake in shares of Coterra Energy by 5.4% during the second quarter. Wellington Shields Capital Management LLC now owns 9,725 shares of the company’s stock valued at $247,000 after purchasing an additional 500 shares during the period. Elevation Point Wealth Partners LLC grew its holdings in shares of Coterra Energy by 1.1% in the second quarter. Elevation Point Wealth Partners LLC now owns 50,333 shares of the company’s stock worth $1,277,000 after purchasing an additional 531 shares during the last quarter. Fifth Third Wealth Advisors LLC increased its stake in shares of Coterra Energy by 5.3% in the second quarter. Fifth Third Wealth Advisors LLC now owns 10,534 shares of the company’s stock worth $267,000 after buying an additional 533 shares during the period. Finally, MassMutual Private Wealth & Trust FSB raised its holdings in Coterra Energy by 26.1% during the 2nd quarter. MassMutual Private Wealth & Trust FSB now owns 2,685 shares of the company’s stock valued at $68,000 after buying an additional 555 shares during the last quarter. 87.92% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the stock. William Blair initiated coverage on shares of Coterra Energy in a report on Wednesday, November 26th. They issued an “outperform” rating and a $36.00 price target on the stock. Morgan Stanley dropped their target price on shares of Coterra Energy from $29.00 to $28.00 and set an “equal weight” rating for the company in a report on Tuesday, October 14th. Wells Fargo & Company boosted their price target on Coterra Energy from $32.00 to $33.00 and gave the company an “overweight” rating in a report on Thursday, August 14th. Zacks Research lowered Coterra Energy from a “hold” rating to a “strong sell” rating in a research report on Monday, October 13th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Coterra Energy in a report on Monday. Seventeen analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $32.86.

Coterra Energy Price Performance

CTRA stock opened at $26.40 on Wednesday. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.02 and a quick ratio of 0.98. Coterra Energy Inc. has a 1 year low of $22.33 and a 1 year high of $29.95. The firm has a 50-day moving average of $24.65 and a 200 day moving average of $24.64. The company has a market cap of $20.10 billion, a P/E ratio of 12.17, a PEG ratio of 0.45 and a beta of 0.33.

Coterra Energy (NYSE:CTRA) last posted its earnings results on Monday, November 3rd. The company reported $0.41 earnings per share for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.02). Coterra Energy had a return on equity of 11.23% and a net margin of 23.25%.The firm had revenue of $1.82 billion for the quarter, compared to analysts’ expectations of $1.83 billion. During the same quarter last year, the company posted $0.32 EPS. The firm’s revenue was up 33.7% on a year-over-year basis. On average, sell-side analysts forecast that Coterra Energy Inc. will post 1.54 EPS for the current year.

Coterra Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, November 26th. Shareholders of record on Thursday, November 13th were issued a $0.22 dividend. The ex-dividend date was Thursday, November 13th. This represents a $0.88 dividend on an annualized basis and a yield of 3.3%. Coterra Energy’s dividend payout ratio is 40.55%.

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.