Coterra Energy Inc. $CTRA Shares Acquired by Old North State Wealth Management LLC

Old North State Wealth Management LLC lifted its stake in shares of Coterra Energy Inc. (NYSE:CTRA) by 4.7% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 12,666 shares of the company’s stock after acquiring an additional 565 shares during the period. Old North State Wealth Management LLC’s holdings in Coterra Energy were worth $322,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Cornerstone Planning Group LLC boosted its stake in shares of Coterra Energy by 175.6% during the first quarter. Cornerstone Planning Group LLC now owns 871 shares of the company’s stock valued at $25,000 after acquiring an additional 555 shares during the last quarter. Raleigh Capital Management Inc. boosted its stake in shares of Coterra Energy by 463.5% during the first quarter. Raleigh Capital Management Inc. now owns 896 shares of the company’s stock valued at $26,000 after acquiring an additional 737 shares during the last quarter. Banque Cantonale Vaudoise purchased a new position in Coterra Energy during the first quarter worth about $29,000. Wayfinding Financial LLC purchased a new position in Coterra Energy during the first quarter worth about $34,000. Finally, Investors Research Corp lifted its position in Coterra Energy by 45.2% during the first quarter. Investors Research Corp now owns 1,311 shares of the company’s stock worth $38,000 after buying an additional 408 shares during the period. Institutional investors and hedge funds own 87.92% of the company’s stock.

Analyst Ratings Changes

CTRA has been the topic of several recent analyst reports. Barclays increased their target price on Coterra Energy from $35.00 to $37.00 and gave the stock an “overweight” rating in a research report on Monday, July 7th. Piper Sandler increased their target price on Coterra Energy from $37.00 to $39.00 and gave the stock an “overweight” rating in a research report on Thursday, August 14th. Mizuho reduced their target price on Coterra Energy from $36.00 to $33.00 and set an “outperform” rating on the stock in a research report on Monday, September 15th. The Goldman Sachs Group reiterated a “neutral” rating and set a $31.00 target price on shares of Coterra Energy in a research report on Tuesday, July 1st. Finally, Wells Fargo & Company increased their target price on Coterra Energy from $32.00 to $33.00 and gave the stock an “overweight” rating in a research report on Thursday, August 14th. Fourteen analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $33.22.

Coterra Energy Stock Performance

Coterra Energy stock opened at $23.70 on Friday. The stock’s 50-day moving average is $23.94 and its 200-day moving average is $25.16. The company has a market cap of $18.08 billion, a price-to-earnings ratio of 11.34, a price-to-earnings-growth ratio of 0.33 and a beta of 0.34. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.13 and a quick ratio of 1.08. Coterra Energy Inc. has a 12 month low of $22.46 and a 12 month high of $29.95.

Coterra Energy (NYSE:CTRA) last released its quarterly earnings data 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 during the quarter, compared to analysts’ expectations of $1.78 billion. Coterra Energy had a return on equity of 10.99% and a net margin of 23.80%.The business’s revenue for the quarter was up 54.6% compared to the same quarter last year. During the same quarter last year, the business earned $0.37 earnings per share. Equities analysts anticipate that Coterra Energy Inc. will post 1.54 earnings per share for the current year.

Coterra Energy Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, August 28th. Investors of record on Thursday, August 14th were issued a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a dividend yield of 3.7%. The ex-dividend date was Thursday, August 14th. Coterra Energy’s dividend payout ratio (DPR) is presently 42.11%.

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.