Commonwealth Equity Services LLC Acquires 225,165 Shares of Coterra Energy Inc. $CTRA

Commonwealth Equity Services LLC grew its position in shares of Coterra Energy Inc. (NYSE:CTRA) by 148.0% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 377,293 shares of the company’s stock after purchasing an additional 225,165 shares during the period. Commonwealth Equity Services LLC’s holdings in Coterra Energy were worth $8,923,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Geneos Wealth Management Inc. lifted its position in Coterra Energy by 29.2% in the 1st quarter. Geneos Wealth Management Inc. now owns 6,417 shares of the company’s stock worth $185,000 after buying an additional 1,449 shares during the last quarter. Strs Ohio bought a new position in shares of Coterra Energy during the first quarter valued at about $1,600,000. Inspire Investing LLC raised its position in Coterra Energy by 7.8% during the 1st quarter. Inspire Investing LLC now owns 11,096 shares of the company’s stock valued at $321,000 after purchasing an additional 804 shares during the last quarter. Wesbanco Bank Inc. purchased a new stake in Coterra Energy in the second quarter worth $350,000. Finally, Range Financial Group LLC boosted its stake in shares of Coterra Energy by 3.1% during the 2nd quarter. Range Financial Group LLC now owns 63,432 shares of the company’s stock valued at $1,610,000 after purchasing an additional 1,887 shares in the last quarter. 87.92% of the stock is owned by hedge funds and other institutional investors.

Coterra Energy Stock Performance

Shares of CTRA opened at $24.94 on Tuesday. The company has a current ratio of 1.02, a quick ratio of 0.98 and a debt-to-equity ratio of 0.25. The firm has a market cap of $18.99 billion, a PE ratio of 11.49, a P/E/G ratio of 0.38 and a beta of 0.36. The stock has a fifty day moving average price of $26.11 and a 200-day moving average price of $24.74. Coterra Energy Inc. has a 12 month low of $22.33 and a 12 month high of $29.95.

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

Coterra Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, November 26th. Stockholders of record on Thursday, November 13th were issued 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 dividend yield of 3.5%. Coterra Energy’s dividend payout ratio is presently 40.55%.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on CTRA shares. BMO Capital Markets dropped their price target on Coterra Energy from $33.00 to $32.00 and set a “market perform” rating on the stock in a research report on Monday, December 15th. JPMorgan Chase & Co. dropped their price objective on shares of Coterra Energy from $34.00 to $31.00 and set an “overweight” rating on the stock in a report on Monday. Raymond James Financial upped their price target on Coterra Energy from $28.00 to $31.00 and gave the stock an “outperform” rating in a research report on Monday, November 24th. Barclays lowered their target price on shares of Coterra Energy from $37.00 to $35.00 and set an “overweight” rating on the stock in a research note on Tuesday, October 7th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Coterra Energy in a research note on Monday, December 29th. Sixteen investment analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Coterra Energy presently has a consensus rating of “Moderate Buy” and an average target price of $32.52.

About Coterra Energy

Coterra Energy (NYSE: CTRA) is an independent oil and natural gas exploration and production company focused on the development, production and optimization of onshore hydrocarbon resources in the United States. The company’s operations center on the exploration, drilling, completion and production of crude oil, natural gas and natural gas liquids (NGLs), with an emphasis on maximizing operational efficiency and capital discipline across its asset base.

Its business activities include identifying and developing resource-rich acreage, operating producing wells, managing reservoir performance and marketing produced hydrocarbons to a range of midstream and energy customers.