Concord Asset Management LLC VA Invests $619,000 in Coterra Energy Inc. $CTRA

Concord Asset Management LLC VA acquired a new position in Coterra Energy Inc. (NYSE:CTRA) in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 24,376 shares of the company’s stock, valued at approximately $619,000.

A number of other hedge funds also recently added to or reduced their stakes in CTRA. Saxon Interests Inc. increased its holdings in shares of Coterra Energy by 5.1% in the 1st quarter. Saxon Interests Inc. now owns 9,319 shares of the company’s stock valued at $269,000 after acquiring an additional 451 shares during the period. Tectonic Advisors LLC boosted its position in Coterra Energy by 3.2% during the first quarter. Tectonic Advisors LLC now owns 14,834 shares of the company’s stock valued at $429,000 after purchasing an additional 459 shares in the last quarter. Hartford Funds Management Co LLC raised its holdings in Coterra Energy by 1.4% in the first quarter. Hartford Funds Management Co LLC now owns 35,301 shares of the company’s stock worth $1,020,000 after purchasing an additional 472 shares in the last quarter. Horizon Investments LLC raised its holdings in Coterra Energy by 4.5% in the first quarter. Horizon Investments LLC now owns 10,935 shares of the company’s stock worth $316,000 after purchasing an additional 474 shares in the last quarter. Finally, Argonautica Private Wealth Management Inc. raised its holdings in Coterra Energy by 4.0% in the first quarter. Argonautica Private Wealth Management Inc. now owns 12,282 shares of the company’s stock worth $355,000 after purchasing an additional 477 shares in the last quarter. 87.92% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the stock. Raymond James Financial reaffirmed an “outperform” rating and issued a $34.00 price objective (down previously from $38.00) on shares of Coterra Energy in a research report on Thursday, September 11th. Piper Sandler upped their target price on Coterra Energy from $37.00 to $39.00 and gave the company an “overweight” rating in a research report on Thursday, August 14th. JPMorgan Chase & Co. boosted their price target on Coterra Energy from $33.00 to $35.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 7th. Scotiabank lowered 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 note on Thursday, October 9th. Finally, The Goldman Sachs Group reaffirmed a “neutral” rating and issued a $31.00 price target on shares of Coterra Energy in a report on Tuesday, July 1st. Fourteen analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. According to MarketBeat, Coterra Energy has a consensus rating of “Moderate Buy” and a consensus price target of $33.06.

Coterra Energy Stock Up 1.9%

NYSE:CTRA opened at $23.18 on Tuesday. The firm has a market capitalization of $17.69 billion, a P/E ratio of 11.09, a PEG ratio of 0.32 and a beta of 0.29. Coterra Energy Inc. has a 1-year low of $22.46 and a 1-year high of $29.95. The company’s fifty day moving average price is $23.89 and its 200-day moving average price is $24.71. 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 (NYSE:CTRA) last released its quarterly earnings data on Monday, August 4th. The company reported $0.48 earnings per share for the quarter, missing analysts’ consensus estimates of $0.50 by ($0.02). Coterra Energy had a return on equity of 10.99% and a net margin of 23.80%.The business had revenue of $1.97 billion during the quarter, compared to analyst estimates of $1.78 billion. During the same quarter in the previous year, the company earned $0.37 EPS. The firm’s revenue was up 54.6% compared to the same quarter last year. As a group, equities research analysts anticipate that Coterra Energy Inc. will post 1.54 EPS for the current year.

Coterra Energy Announces Dividend

The company also recently declared 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. The ex-dividend date of this dividend was Thursday, August 14th. This represents a $0.88 dividend on an annualized basis and a yield of 3.8%. Coterra Energy’s dividend payout ratio is 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.