Core Alternative Capital Acquires 33,730 Shares of Coterra Energy Inc. $CTRA

Core Alternative Capital lifted its holdings in shares of Coterra Energy Inc. (NYSE:CTRA) by 27.6% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 155,939 shares of the company’s stock after purchasing an additional 33,730 shares during the quarter. Core Alternative Capital’s holdings in Coterra Energy were worth $3,688,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. AAFMAA Wealth Management & Trust LLC boosted its stake in shares of Coterra Energy by 1.0% during the 3rd quarter. AAFMAA Wealth Management & Trust LLC now owns 43,009 shares of the company’s stock worth $1,017,000 after acquiring an additional 429 shares in the last quarter. Trust Co. of Vermont boosted its position in shares of Coterra Energy by 1.5% in the third quarter. Trust Co. of Vermont now owns 30,832 shares of the company’s stock valued at $729,000 after acquiring an additional 454 shares during the period. GAMMA Investing LLC boosted its holdings in Coterra Energy by 2.1% in the 3rd quarter. GAMMA Investing LLC now owns 22,763 shares of the company’s stock valued at $538,000 after purchasing an additional 462 shares during the period. Wellington Shields Capital Management LLC lifted its stake in shares of Coterra Energy by 5.4% in the second quarter. Wellington Shields Capital Management LLC now owns 9,725 shares of the company’s stock valued at $247,000 after buying an additional 500 shares during the period. Finally, Elevation Point Wealth Partners LLC grew its holdings in shares of Coterra Energy by 1.1% during the 2nd 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 in the last quarter. Institutional investors and hedge funds own 87.92% of the company’s stock.

Analyst Upgrades and Downgrades

CTRA has been the topic of several analyst reports. Weiss Ratings reissued a “hold (c)” rating on shares of Coterra Energy in a report on Monday, December 29th. Susquehanna increased their price target on shares of Coterra Energy from $31.00 to $32.00 and gave the stock a “positive” rating in a research report on Monday. UBS Group raised their price target on shares of Coterra Energy from $32.00 to $33.00 and gave the stock a “buy” rating in a research note on Friday, December 12th. BMO Capital Markets lowered their price objective on Coterra Energy from $33.00 to $32.00 and set a “market perform” rating on the stock in a research note on Monday, December 15th. Finally, Zacks Research downgraded Coterra Energy from a “hold” rating to a “strong sell” rating in a research report on Monday, January 19th. Sixteen investment analysts have rated the stock with a Buy rating, six have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Coterra Energy presently has a consensus rating of “Moderate Buy” and an average price target of $32.81.

Coterra Energy Stock Up 0.5%

Shares of CTRA opened at $27.53 on Wednesday. The company has a market capitalization of $20.96 billion, a P/E ratio of 12.69, a PEG ratio of 0.62 and a beta of 0.36. Coterra Energy Inc. has a one year low of $22.33 and a one year high of $29.82. The business’s 50 day simple moving average is $26.15 and its 200-day simple moving average is $24.83. 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 (NYSE:CTRA) last issued its quarterly earnings data 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). The business had revenue of $1.82 billion during the quarter, compared to the consensus estimate of $1.83 billion. Coterra Energy had a net margin of 23.25% and a return on equity of 11.23%. The company’s revenue for the quarter was up 33.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.32 EPS. As a group, sell-side analysts predict that Coterra Energy Inc. will post 1.54 EPS for the current fiscal year.

Coterra Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, November 26th. Shareholders 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 yield of 3.2%. Coterra Energy’s dividend payout ratio is currently 40.55%.

Coterra Energy Company Profile

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.