Argonautica Private Wealth Management Inc. Purchases 477 Shares of Coterra Energy Inc. (NYSE:CTRA)

Argonautica Private Wealth Management Inc. raised its position in shares of Coterra Energy Inc. (NYSE:CTRA) by 4.0% in the first quarter, HoldingsChannel reports. The firm owned 12,282 shares of the company’s stock after buying an additional 477 shares during the quarter. Argonautica Private Wealth Management Inc.’s holdings in Coterra Energy were worth $355,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also made changes to their positions in the company. Wellington Management Group LLP grew its stake in shares of Coterra Energy by 1.9% during the 4th quarter. Wellington Management Group LLP now owns 72,528,767 shares of the company’s stock valued at $1,852,385,000 after acquiring an additional 1,318,754 shares during the period. Geode Capital Management LLC grew its stake in shares of Coterra Energy by 0.5% during the 4th quarter. Geode Capital Management LLC now owns 19,096,761 shares of the company’s stock valued at $486,528,000 after acquiring an additional 96,059 shares during the period. Victory Capital Management Inc. lifted its holdings in Coterra Energy by 5.7% in the 1st quarter. Victory Capital Management Inc. now owns 18,828,688 shares of the company’s stock worth $544,149,000 after purchasing an additional 1,019,995 shares in the last quarter. Invesco Ltd. lifted its holdings in Coterra Energy by 9.0% in the 4th quarter. Invesco Ltd. now owns 12,232,484 shares of the company’s stock worth $312,418,000 after purchasing an additional 1,011,166 shares in the last quarter. Finally, Schroder Investment Management Group lifted its holdings in Coterra Energy by 18.2% in the 4th quarter. Schroder Investment Management Group now owns 11,776,525 shares of the company’s stock worth $300,537,000 after purchasing an additional 1,809,615 shares in the last quarter. 87.92% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

CTRA has been the topic of several recent research reports. UBS Group decreased their price target on Coterra Energy from $32.00 to $30.00 and set a “buy” rating on the stock in a report on Friday, May 9th. Susquehanna reduced their target price on Coterra Energy from $34.00 to $32.00 and set a “positive” rating on the stock in a research note on Tuesday, April 22nd. Raymond James Financial set a $38.00 target price on Coterra Energy and gave the stock an “outperform” rating in a research note on Friday, June 13th. Bank of America reduced their target price on Coterra Energy from $34.00 to $33.00 and set a “buy” rating on the stock in a research note on Tuesday, April 29th. Finally, Scotiabank reiterated an “outperform” rating on shares of Coterra Energy in a research note on Friday, July 11th. Four investment analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $33.16.

Coterra Energy Stock Performance

Coterra Energy stock opened at $23.39 on Thursday. The firm’s 50 day simple moving average is $25.22 and its 200 day simple moving average is $26.37. The company has a current ratio of 0.90, a quick ratio of 0.86 and a debt-to-equity ratio of 0.30. The firm has a market capitalization of $17.85 billion, a PE ratio of 13.60, a price-to-earnings-growth ratio of 0.33 and a beta of 0.35. Coterra Energy Inc. has a 1-year low of $22.30 and a 1-year high of $29.95.

Coterra Energy (NYSE:CTRA) last announced its quarterly earnings results on Monday, May 5th. The company reported $0.80 earnings per share for the quarter, beating the consensus estimate of $0.71 by $0.09. Coterra Energy had a net margin of 21.67% and a return on equity of 10.61%. The business had revenue of $924.00 million during the quarter, compared to analysts’ expectations of $1.92 billion. During the same quarter in the prior year, the company posted $0.51 EPS. The firm’s revenue for the quarter was up 32.9% compared to the same quarter last year. As a group, analysts expect that Coterra Energy Inc. will post 1.54 earnings per share for the current fiscal year.

Coterra Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 29th. Shareholders of record on Thursday, May 15th were given a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a yield of 3.76%. The ex-dividend date of this dividend was Thursday, May 15th. Coterra Energy’s dividend payout ratio (DPR) is 51.16%.

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.