Coterra Energy Inc. (NYSE:CTRA) Shares Purchased by Hennion & Walsh Asset Management Inc.

Hennion & Walsh Asset Management Inc. boosted its holdings in shares of Coterra Energy Inc. (NYSE:CTRA) by 3.1% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 55,968 shares of the company’s stock after purchasing an additional 1,703 shares during the period. Hennion & Walsh Asset Management Inc.’s holdings in Coterra Energy were worth $1,340,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in the business. Wealth Enhancement Advisory Services LLC boosted its position in Coterra Energy by 7.2% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 35,751 shares of the company’s stock worth $997,000 after purchasing an additional 2,403 shares in the last quarter. SeaCrest Wealth Management LLC grew its position in Coterra Energy by 6.9% during the first quarter. SeaCrest Wealth Management LLC now owns 8,506 shares of the company’s stock valued at $237,000 after buying an additional 549 shares during the period. Sumitomo Mitsui Trust Holdings Inc. grew its position in Coterra Energy by 0.5% during the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 2,011,692 shares of the company’s stock valued at $56,086,000 after buying an additional 10,001 shares during the period. Norden Group LLC purchased a new position in Coterra Energy in the first quarter valued at $2,827,000. Finally, Kovack Advisors Inc. acquired a new position in shares of Coterra Energy in the first quarter worth about $237,000. 87.92% of the stock is owned by hedge funds and other institutional investors.

Coterra Energy Stock Down 0.6 %

Shares of CTRA opened at $23.85 on Friday. Coterra Energy Inc. has a 52-week low of $22.30 and a 52-week high of $28.90. The company has a quick ratio of 1.38, a current ratio of 1.40 and a debt-to-equity ratio of 0.16. The stock has a fifty day simple moving average of $23.84 and a two-hundred day simple moving average of $25.82. The company has a market capitalization of $17.75 billion, a PE ratio of 13.79, a price-to-earnings-growth ratio of 1.41 and a beta of 0.22.

Coterra Energy (NYSE:CTRA) last released its quarterly earnings data on Thursday, August 1st. The company reported $0.37 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.39 by ($0.02). The firm had revenue of $1.27 billion for the quarter, compared to analyst estimates of $1.32 billion. Coterra Energy had a return on equity of 10.48% and a net margin of 23.18%. Coterra Energy’s revenue for the quarter was up 7.3% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.38 earnings per share. As a group, equities analysts forecast that Coterra Energy Inc. will post 1.72 EPS for the current year.

Coterra Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 29th. Investors of record on Thursday, August 15th were issued a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a yield of 3.52%. The ex-dividend date of this dividend was Thursday, August 15th. Coterra Energy’s dividend payout ratio is presently 48.55%.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the company. Wolfe Research assumed coverage on Coterra Energy in a research note on Thursday, July 18th. They issued an “outperform” rating and a $35.00 price target for the company. Barclays cut their price objective on Coterra Energy from $33.00 to $31.00 and set an “overweight” rating for the company in a research report on Thursday, October 3rd. Piper Sandler decreased their target price on Coterra Energy from $39.00 to $31.00 and set an “overweight” rating on the stock in a research report on Thursday, August 15th. Scotiabank dropped their price target on shares of Coterra Energy from $35.00 to $32.00 and set a “sector outperform” rating on the stock in a research note on Thursday, October 10th. Finally, Truist Financial reduced their price objective on shares of Coterra Energy from $34.00 to $31.00 and set a “buy” rating for the company in a research report on Monday, September 30th. Two investment analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $32.06.

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.