Edgestream Partners L.P. Takes $1.89 Million Position in Coterra Energy Inc. $CTRA

Edgestream Partners L.P. purchased a new position in Coterra Energy Inc. (NYSE:CTRA) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 74,447 shares of the company’s stock, valued at approximately $1,889,000.

Several other institutional investors also recently bought and sold shares of the business. Vanguard Group Inc. raised its stake in shares of Coterra Energy by 3.1% during the 2nd quarter. Vanguard Group Inc. now owns 95,209,961 shares of the company’s stock worth $2,416,429,000 after buying an additional 2,872,288 shares during the period. Wellington Management Group LLP increased its holdings in Coterra Energy by 15.3% in the 1st quarter. Wellington Management Group LLP now owns 83,631,117 shares of the company’s stock worth $2,416,939,000 after acquiring an additional 11,102,350 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in Coterra Energy by 5.9% during the second quarter. Charles Schwab Investment Management Inc. now owns 26,800,493 shares of the company’s stock worth $680,197,000 after acquiring an additional 1,495,553 shares during the period. Geode Capital Management LLC lifted its holdings in Coterra Energy by 4.8% during the second quarter. Geode Capital Management LLC now owns 20,685,670 shares of the company’s stock valued at $522,936,000 after purchasing an additional 953,824 shares in the last quarter. Finally, Schroder Investment Management Group grew its position in shares of Coterra Energy by 1.1% in the second quarter. Schroder Investment Management Group now owns 13,575,101 shares of the company’s stock valued at $344,536,000 after purchasing an additional 141,830 shares during the period. 87.92% of the stock is owned by institutional investors and hedge funds.

Coterra Energy Price Performance

NYSE:CTRA opened at $27.37 on Friday. Coterra Energy Inc. has a one year low of $22.33 and a one year high of $29.95. The stock has a market cap of $20.84 billion, a PE ratio of 12.61, a P/E/G ratio of 0.46 and a beta of 0.33. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.98 and a current ratio of 1.02. The stock has a 50 day moving average price of $24.86 and a 200 day moving average price of $24.70.

Coterra Energy (NYSE:CTRA) last issued its earnings results on Monday, November 3rd. The company reported $0.41 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.43 by ($0.02). Coterra Energy had a net margin of 23.25% and a return on equity of 11.23%. The company had revenue of $1.82 billion during the quarter, compared to analysts’ expectations of $1.83 billion. During the same quarter in the previous year, the company earned $0.32 earnings per share. The firm’s quarterly revenue was up 33.7% compared to the same quarter last year. Equities research analysts expect that Coterra Energy Inc. will post 1.54 EPS for the current fiscal year.

Coterra Energy Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, November 26th. Shareholders of record on Thursday, November 13th were paid a dividend of $0.22 per share. The ex-dividend date of this dividend was Thursday, November 13th. This represents a $0.88 dividend on an annualized basis and a yield of 3.2%. Coterra Energy’s payout ratio is 40.55%.

Analysts Set New Price Targets

Several research analysts recently weighed in on CTRA shares. The Goldman Sachs Group reduced their price target on shares of Coterra Energy from $30.00 to $29.00 and set a “neutral” rating for the company in a research report on Wednesday, October 15th. Piper Sandler reduced their target price on Coterra Energy from $38.00 to $37.00 and set an “overweight” rating for the company in a report on Tuesday, November 18th. Siebert Williams Shank lowered their price target on Coterra Energy from $35.00 to $32.00 and set a “buy” rating on the stock in a research note on Monday, October 13th. Morgan Stanley dropped their price target on Coterra Energy from $29.00 to $28.00 and set an “equal weight” rating for the company in a research report on Tuesday, October 14th. Finally, Zacks Research upgraded Coterra Energy from a “strong sell” rating to a “hold” rating in a report on Monday, December 1st. Seventeen investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $32.86.

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.