Capital Performance Advisors LLP Purchases Shares of 2,785 Coterra Energy Inc. (NYSE:CTRA)

Capital Performance Advisors LLP purchased a new stake in Coterra Energy Inc. (NYSE:CTRA) during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 2,785 shares of the company’s stock, valued at approximately $67,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Fortitude Family Office LLC grew its holdings in Coterra Energy by 154.9% in the 2nd quarter. Fortitude Family Office LLC now owns 933 shares of the company’s stock valued at $25,000 after buying an additional 567 shares during the last quarter. Larson Financial Group LLC boosted its position in shares of Coterra Energy by 98.0% in the second quarter. Larson Financial Group LLC now owns 1,081 shares of the company’s stock valued at $29,000 after acquiring an additional 535 shares during the period. Values First Advisors Inc. acquired a new stake in shares of Coterra Energy in the third quarter worth $57,000. Tobam bought a new position in Coterra Energy during the third quarter worth $63,000. Finally, EverSource Wealth Advisors LLC raised its stake in Coterra Energy by 31.0% during the 1st quarter. EverSource Wealth Advisors LLC now owns 2,351 shares of the company’s stock valued at $64,000 after purchasing an additional 557 shares during the last quarter. 87.92% of the stock is currently owned by institutional investors and hedge funds.

Coterra Energy Stock Up 0.7 %

NYSE CTRA opened at $24.58 on Friday. The stock’s 50 day simple moving average is $23.77 and its 200 day simple moving average is $25.56. Coterra Energy Inc. has a one year low of $22.30 and a one year high of $28.90. The firm has a market cap of $18.11 billion, a PE ratio of 14.81, a price-to-earnings-growth ratio of 1.54 and a beta of 0.22. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.61 and a quick ratio of 1.38.

Coterra Energy (NYSE:CTRA) last posted its quarterly earnings data on Thursday, October 31st. The company reported $0.32 earnings per share for the quarter, missing the consensus estimate of $0.35 by ($0.03). Coterra Energy had a net margin of 21.91% and a return on equity of 9.38%. The company had revenue of $1.36 billion during the quarter, compared to analyst estimates of $1.28 billion. During the same quarter in the previous year, the business posted $0.47 EPS. The company’s revenue was up .2% compared to the same quarter last year. As a group, sell-side analysts forecast that Coterra Energy Inc. will post 1.59 earnings per share for the current fiscal year.

Coterra Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 27th. Investors of record on Thursday, November 14th will be given a $0.21 dividend. The ex-dividend date of this dividend is Thursday, November 14th. This represents a $0.84 dividend on an annualized basis and a yield of 3.42%. Coterra Energy’s payout ratio is 50.60%.

Analyst Ratings Changes

Several analysts have issued reports on CTRA shares. Morgan Stanley decreased their price target on shares of Coterra Energy from $29.00 to $27.00 and set an “equal weight” rating on the stock in a research report on Monday, September 16th. Barclays decreased their target price on Coterra Energy from $33.00 to $31.00 and set an “overweight” rating on the stock in a research report on Thursday, October 3rd. Piper Sandler reaffirmed an “overweight” rating and issued a $32.00 price target (up previously from $31.00) on shares of Coterra Energy in a report on Monday, November 4th. Roth Capital raised Coterra Energy from a “hold” rating to a “strong-buy” rating in a report on Tuesday, August 27th. Finally, JPMorgan Chase & Co. cut their target price on Coterra Energy from $31.00 to $26.00 and set an “overweight” rating for the company in a research note on Thursday, September 12th. Two investment analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $31.29.

About Coterra Energy

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.