Cascade Investment Advisors Inc. Acquires 715 Shares of Coterra Energy Inc. $CTRA

Cascade Investment Advisors Inc. raised its position in Coterra Energy Inc. (NYSE:CTRA) by 1.4% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 52,550 shares of the company’s stock after buying an additional 715 shares during the period. Cascade Investment Advisors Inc.’s holdings in Coterra Energy were worth $1,334,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Farther Finance Advisors LLC lifted its position in shares of Coterra Energy by 58.6% during the first quarter. Farther Finance Advisors LLC now owns 11,978 shares of the company’s stock worth $348,000 after purchasing an additional 4,426 shares in the last quarter. Yousif Capital Management LLC lifted its position in shares of Coterra Energy by 6.8% during the first quarter. Yousif Capital Management LLC now owns 91,175 shares of the company’s stock worth $2,635,000 after purchasing an additional 5,824 shares in the last quarter. GAMMA Investing LLC lifted its position in shares of Coterra Energy by 95.8% during the first quarter. GAMMA Investing LLC now owns 23,421 shares of the company’s stock worth $677,000 after purchasing an additional 11,459 shares in the last quarter. Fifth Third Bancorp lifted its position in shares of Coterra Energy by 4.1% during the first quarter. Fifth Third Bancorp now owns 83,498 shares of the company’s stock worth $2,413,000 after purchasing an additional 3,257 shares in the last quarter. Finally, Everhart Financial Group Inc. lifted its position in shares of Coterra Energy by 53.7% during the first quarter. Everhart Financial Group Inc. now owns 12,760 shares of the company’s stock worth $369,000 after purchasing an additional 4,457 shares in the last quarter. 87.92% of the stock is currently owned by institutional investors and hedge funds.

Coterra Energy Stock Down 3.6%

Shares of NYSE:CTRA opened at $22.78 on Monday. Coterra Energy Inc. has a 52 week low of $22.46 and a 52 week high of $29.95. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.08 and a current ratio of 1.13. The company has a market capitalization of $17.38 billion, a PE ratio of 10.90, a PEG ratio of 0.32 and a beta of 0.29. The company has a 50 day moving average price of $23.90 and a two-hundred day moving average price of $24.75.

Coterra Energy (NYSE:CTRA) last released its quarterly earnings data on Monday, August 4th. The company reported $0.48 earnings per share for the quarter, missing the consensus estimate 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 for the quarter, compared to the consensus estimate of $1.78 billion. During the same quarter last year, the firm earned $0.37 EPS. The company’s revenue for the quarter was up 54.6% on a year-over-year basis. Analysts forecast that Coterra Energy Inc. will post 1.54 earnings per share for the current year.

Coterra Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 28th. Stockholders of record on Thursday, August 14th were given a dividend of $0.22 per share. The ex-dividend date of this dividend was Thursday, August 14th. This represents a $0.88 annualized dividend and a dividend yield of 3.9%. Coterra Energy’s dividend payout ratio is currently 42.11%.

Analysts Set New Price Targets

Several brokerages recently weighed in on CTRA. Mizuho cut their price objective on shares of Coterra Energy from $36.00 to $33.00 and set an “outperform” rating on the stock in a report on Monday, September 15th. JPMorgan Chase & Co. upped their target price on shares of Coterra Energy from $33.00 to $35.00 and gave the company an “overweight” rating in a research report on Tuesday, October 7th. Wells Fargo & Company upped their target price on shares of Coterra Energy from $32.00 to $33.00 and gave the company an “overweight” rating in a research report on Thursday, August 14th. Weiss Ratings reiterated a “hold (c)” rating on shares of Coterra Energy in a research report on Wednesday, October 8th. Finally, Scotiabank dropped their target price on shares of Coterra Energy from $35.00 to $32.00 and set a “sector outperform” rating for the company in a research report on Thursday. Fourteen equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. According to MarketBeat.com, Coterra Energy has an average rating of “Moderate Buy” and a consensus target price of $33.06.

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.