Gladstone Institutional Advisory LLC Makes New Investment in Coterra Energy Inc. (NYSE:CTRA)

Gladstone Institutional Advisory LLC bought a new position in shares of Coterra Energy Inc. (NYSE:CTRA) during the third quarter, according to its most recent Form 13F filing with the SEC. The fund bought 8,935 shares of the company’s stock, valued at approximately $214,000.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Fortitude Family Office LLC boosted its stake in shares of 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 purchasing an additional 567 shares during the last quarter. Larson Financial Group LLC boosted its stake in shares of Coterra Energy by 98.0% in the 2nd quarter. Larson Financial Group LLC now owns 1,081 shares of the company’s stock valued at $29,000 after purchasing an additional 535 shares during the last quarter. Central Pacific Bank Trust Division bought a new stake in shares of Coterra Energy in the 1st quarter valued at $44,000. Values First Advisors Inc. bought a new stake in shares of Coterra Energy in the 3rd quarter valued at $57,000. Finally, Tobam bought a new position in Coterra Energy during the third quarter worth $63,000. 87.92% of the stock is owned by institutional investors.

Coterra Energy Stock Performance

Shares of CTRA stock opened at $23.32 on Wednesday. The firm has a 50-day moving average of $23.75 and a 200-day moving average of $25.62. The company has a market cap of $17.24 billion, a P/E ratio of 14.05, a P/E/G ratio of 1.40 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 Inc. has a one year low of $22.30 and a one year high of $28.90.

Coterra Energy (NYSE:CTRA) last announced its earnings results on Thursday, October 31st. The company reported $0.32 EPS 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 firm had revenue of $1.36 billion during the quarter, compared to analysts’ expectations of $1.28 billion. During the same quarter in the prior year, the company earned $0.47 EPS. The business’s revenue for the quarter was up .2% on a year-over-year basis. Equities research analysts forecast that Coterra Energy Inc. will post 1.62 EPS for the current fiscal year.

Coterra Energy Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 27th. Shareholders of record on Thursday, November 14th will be paid a $0.21 dividend. The ex-dividend date is Thursday, November 14th. This represents a $0.84 dividend on an annualized basis and a yield of 3.60%. Coterra Energy’s dividend payout ratio is presently 50.60%.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the stock. Wells Fargo & Company cut their target price on shares of Coterra Energy from $34.00 to $32.00 and set an “overweight” rating on the stock in a research note on Tuesday, October 1st. Truist Financial cut their target price on shares of Coterra Energy from $34.00 to $31.00 and set a “buy” rating on the stock in a research note on Monday, September 30th. JPMorgan Chase & Co. lowered their price objective on shares of Coterra Energy from $31.00 to $26.00 and set an “overweight” rating on the stock in a report on Thursday, September 12th. Mizuho upped their price objective on shares of Coterra Energy from $36.00 to $37.00 and gave the stock an “outperform” rating in a report on Friday, November 1st. Finally, Piper Sandler restated an “overweight” rating and set a $32.00 price objective (up previously from $31.00) on shares of Coterra Energy in a report on Monday. Two equities research 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. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $31.29.

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.