Addison Capital Co Decreases Stock Holdings in Coterra Energy Inc. $CTRA

Addison Capital Co lowered its stake in shares of Coterra Energy Inc. (NYSE:CTRA) by 3.2% during the 1st quarter, according to its most recent filing with the SEC. The firm owned 79,414 shares of the company’s stock after selling 2,630 shares during the period. Addison Capital Co’s holdings in Coterra Energy were worth $2,295,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Donald L. Hagan LLC raised its holdings in shares of Coterra Energy by 1.1% during the first quarter. Donald L. Hagan LLC now owns 35,754 shares of the company’s stock valued at $1,033,000 after purchasing an additional 401 shares during the last quarter. Investors Research Corp grew its position in Coterra Energy by 45.2% in the 1st quarter. Investors Research Corp now owns 1,311 shares of the company’s stock worth $38,000 after purchasing an additional 408 shares during the period. Saxon Interests Inc. raised its stake in Coterra Energy by 5.1% during the 1st quarter. Saxon Interests Inc. now owns 9,319 shares of the company’s stock valued at $269,000 after buying an additional 451 shares during the last quarter. Tectonic Advisors LLC raised its stake in Coterra Energy by 3.2% during the 1st quarter. Tectonic Advisors LLC now owns 14,834 shares of the company’s stock valued at $429,000 after buying an additional 459 shares during the last quarter. Finally, Procyon Advisors LLC lifted its holdings in shares of Coterra Energy by 3.6% during the 1st quarter. Procyon Advisors LLC now owns 13,460 shares of the company’s stock valued at $389,000 after buying an additional 469 shares during the period. Hedge funds and other institutional investors own 87.92% of the company’s stock.

Coterra Energy Stock Up 2.1%

CTRA stock opened at $24.36 on Thursday. The business’s 50-day moving average price is $24.17 and its 200-day moving average price is $25.36. The stock has a market cap of $18.59 billion, a P/E ratio of 11.65, a PEG ratio of 0.32 and a beta of 0.34. The company has a quick ratio of 1.08, a current ratio of 1.13 and a debt-to-equity ratio of 0.29. Coterra Energy Inc. has a twelve month low of $22.30 and a twelve month high of $29.95.

Coterra Energy (NYSE:CTRA) last released its earnings results on Monday, August 4th. The company reported $0.48 EPS for the quarter, missing analysts’ consensus estimates of $0.50 by ($0.02). The firm had revenue of $1.97 billion for the quarter, compared to the consensus estimate of $1.78 billion. Coterra Energy had a return on equity of 10.99% and a net margin of 23.80%.Coterra Energy’s revenue was up 54.6% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.37 EPS. On average, equities research analysts forecast that Coterra Energy Inc. will post 1.54 EPS for the current year.

Coterra Energy Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, August 28th. Investors of record on Thursday, August 14th were paid a dividend of $0.22 per share. The ex-dividend date was Thursday, August 14th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 3.6%. Coterra Energy’s payout ratio is 42.11%.

Analyst Upgrades and Downgrades

CTRA has been the subject of several research analyst reports. Wells Fargo & Company lifted their price objective on Coterra Energy from $32.00 to $33.00 and gave the stock an “overweight” rating in a report on Thursday, August 14th. Barclays boosted their price target on Coterra Energy from $35.00 to $37.00 and gave the company an “overweight” rating in a research note on Monday, July 7th. Raymond James Financial set a $38.00 price objective on shares of Coterra Energy and gave the stock an “outperform” rating in a research note on Friday, June 13th. The Goldman Sachs Group reissued a “neutral” rating and issued a $31.00 price objective on shares of Coterra Energy in a report on Tuesday, July 1st. Finally, Pickering Energy Partners cut shares of Coterra Energy from an “outperform” rating to a “neutral” rating in a report on Tuesday, May 20th. Fourteen investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $33.61.

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.