Coterra Energy Inc. $CTRA Shares Acquired by Tectonic Advisors LLC

Tectonic Advisors LLC grew its holdings in Coterra Energy Inc. (NYSE:CTRA) by 32.3% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 19,620 shares of the company’s stock after buying an additional 4,786 shares during the period. Tectonic Advisors LLC’s holdings in Coterra Energy were worth $498,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Cornerstone Planning Group LLC lifted its stake in shares of Coterra Energy by 175.6% in the 1st quarter. Cornerstone Planning Group LLC now owns 871 shares of the company’s stock valued at $25,000 after purchasing an additional 555 shares during the last quarter. Raleigh Capital Management Inc. raised its holdings in shares of Coterra Energy by 463.5% in the 1st quarter. Raleigh Capital Management Inc. now owns 896 shares of the company’s stock valued at $26,000 after buying an additional 737 shares during the period. Banque Cantonale Vaudoise purchased a new stake in shares of Coterra Energy in the 1st quarter valued at $29,000. REAP Financial Group LLC raised its holdings in shares of Coterra Energy by 190.1% in the 2nd quarter. REAP Financial Group LLC now owns 1,108 shares of the company’s stock valued at $28,000 after buying an additional 726 shares during the period. Finally, Wayfinding Financial LLC purchased a new stake in shares of Coterra Energy in the 1st quarter valued at $34,000. Institutional investors and hedge funds own 87.92% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the company. Scotiabank cut their price objective on Coterra Energy from $35.00 to $32.00 and set a “sector outperform” rating on the stock in a report on Thursday. Mizuho cut their price objective on Coterra Energy from $36.00 to $33.00 and set an “outperform” rating on the stock in a report on Monday, September 15th. The Goldman Sachs Group reiterated a “neutral” rating and issued a $31.00 price objective on shares of Coterra Energy in a report on Tuesday, July 1st. Wells Fargo & Company upped their price target on Coterra Energy from $32.00 to $33.00 and gave the stock an “overweight” rating in a report on Thursday, August 14th. Finally, Barclays cut their price target on Coterra Energy from $37.00 to $35.00 and set an “overweight” rating on the stock in a report on Tuesday. Fourteen research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $33.06.

Coterra Energy Price Performance

Shares of NYSE CTRA opened at $22.78 on Friday. The stock’s 50-day moving average is $23.90 and its two-hundred day moving average is $24.81. 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 1-year low of $22.46 and a 1-year high of $29.95. The company has a market cap of $17.38 billion, a price-to-earnings ratio of 10.90, a price-to-earnings-growth ratio of 0.33 and a beta of 0.29.

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). Coterra Energy had a net margin of 23.80% and a return on equity of 10.99%. The business had revenue of $1.97 billion during the quarter, compared to analysts’ expectations of $1.78 billion. During the same quarter in the previous year, the company posted $0.37 EPS. The company’s revenue was up 54.6% compared to the same quarter last year. Analysts forecast that Coterra Energy Inc. will post 1.54 EPS for the current fiscal year.

Coterra Energy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 28th. Stockholders of record on Thursday, August 14th were issued a $0.22 dividend. The ex-dividend date was Thursday, August 14th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 3.9%. Coterra Energy’s dividend payout ratio is presently 42.11%.

Coterra Energy 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.