Kiker Wealth Management LLC Purchases New Position in Coterra Energy Inc. $CTRA

Kiker Wealth Management LLC acquired a new position in shares of Coterra Energy Inc. (NYSE:CTRA) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 24,910 shares of the company’s stock, valued at approximately $589,000.

Several other hedge funds also recently modified their holdings of CTRA. Vanguard Group Inc. boosted its holdings in shares of Coterra Energy by 3.1% in the 2nd quarter. Vanguard Group Inc. now owns 95,209,961 shares of the company’s stock worth $2,416,429,000 after acquiring an additional 2,872,288 shares in the last quarter. State Street Corp boosted its stake in Coterra Energy by 0.9% in the second quarter. State Street Corp now owns 45,588,319 shares of the company’s stock worth $1,157,032,000 after purchasing an additional 386,526 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of Coterra Energy by 5.9% during the second quarter. Charles Schwab Investment Management Inc. now owns 26,800,493 shares of the company’s stock worth $680,197,000 after purchasing an additional 1,495,553 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of Coterra Energy by 4.8% in the second quarter. Geode Capital Management LLC now owns 20,685,670 shares of the company’s stock valued at $522,936,000 after buying an additional 953,824 shares during the last quarter. Finally, Schroder Investment Management Group raised its holdings in shares of Coterra Energy by 1.1% in the second quarter. Schroder Investment Management Group now owns 13,575,101 shares of the company’s stock valued at $344,536,000 after buying an additional 141,830 shares during the last quarter. Institutional investors and hedge funds own 87.92% of the company’s stock.

Coterra Energy Price Performance

Shares of CTRA stock opened at $24.94 on Tuesday. The firm has a market capitalization of $18.99 billion, a price-to-earnings ratio of 11.49, a price-to-earnings-growth ratio of 0.38 and a beta of 0.36. Coterra Energy Inc. has a 12-month low of $22.33 and a 12-month high of $29.95. The company has a quick ratio of 0.98, a current ratio of 1.02 and a debt-to-equity ratio of 0.25. The firm has a fifty day moving average of $26.11 and a 200-day moving average of $24.74.

Coterra Energy (NYSE:CTRA) last posted its earnings results on Monday, November 3rd. The company reported $0.41 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.02). Coterra Energy had a net margin of 23.25% and a return on equity of 11.23%. The business had revenue of $1.82 billion during the quarter, compared to analyst estimates of $1.83 billion. During the same period in the previous year, the firm posted $0.32 earnings per share. The firm’s revenue was up 33.7% on a year-over-year basis. On average, equities research analysts forecast 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 Wednesday, November 26th. Shareholders of record on Thursday, November 13th were issued a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a yield of 3.5%. The ex-dividend date was Thursday, November 13th. Coterra Energy’s dividend payout ratio (DPR) is 40.55%.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on CTRA shares. Mizuho lowered their price objective on shares of Coterra Energy from $36.00 to $33.00 and set an “outperform” rating for the company in a research report on Monday, September 15th. Stephens lowered their price target on shares of Coterra Energy from $34.00 to $33.00 and set an “overweight” rating for the company in a report on Tuesday, October 21st. Zacks Research raised Coterra Energy from a “strong sell” rating to a “hold” rating in a report on Monday, December 1st. Piper Sandler decreased their price objective on Coterra Energy from $38.00 to $37.00 and set an “overweight” rating on the stock in a research report on Tuesday, November 18th. Finally, Siebert Williams Shank dropped their target price on Coterra Energy from $35.00 to $32.00 and set a “buy” rating for the company in a research report on Monday, October 13th. Sixteen investment analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Coterra Energy currently has an average rating of “Moderate Buy” and an average price target of $32.52.

Coterra Energy Profile

Coterra Energy (NYSE: CTRA) is an independent oil and natural gas exploration and production company focused on the development, production and optimization of onshore hydrocarbon resources in the United States. The company’s operations center on the exploration, drilling, completion and production of crude oil, natural gas and natural gas liquids (NGLs), with an emphasis on maximizing operational efficiency and capital discipline across its asset base.

Its business activities include identifying and developing resource-rich acreage, operating producing wells, managing reservoir performance and marketing produced hydrocarbons to a range of midstream and energy customers.