Freedom Investment Management Inc. Has $320,000 Holdings in Coterra Energy Inc. $CTRA

Freedom Investment Management Inc. raised its position in shares of Coterra Energy Inc. (NYSE:CTRA) by 7.9% in the second quarter, HoldingsChannel.com reports. The firm owned 12,591 shares of the company’s stock after purchasing an additional 920 shares during the quarter. Freedom Investment Management Inc.’s holdings in Coterra Energy were worth $320,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC increased its position in Coterra Energy by 7.6% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 123,054 shares of the company’s stock valued at $3,577,000 after purchasing an additional 8,726 shares during the period. Truist Financial Corp increased its position in Coterra Energy by 165.3% during the 2nd quarter. Truist Financial Corp now owns 4,213,315 shares of the company’s stock valued at $106,934,000 after purchasing an additional 2,625,126 shares during the period. Vontobel Holding Ltd. acquired a new stake in shares of Coterra Energy during the 1st quarter worth approximately $233,000. Mirae Asset Global Investments Co. Ltd. grew its position in shares of Coterra Energy by 15.4% during the 2nd quarter. Mirae Asset Global Investments Co. Ltd. now owns 785,835 shares of the company’s stock worth $19,944,000 after buying an additional 104,999 shares during the period. Finally, Wealth Advisory Solutions LLC acquired a new stake in shares of Coterra Energy during the 2nd quarter worth approximately $342,000. Institutional investors and hedge funds own 87.92% of the company’s stock.

Coterra Energy Price Performance

Shares of CTRA opened at $23.58 on Monday. Coterra Energy Inc. has a 12-month low of $22.33 and a 12-month high of $29.95. The business’s fifty day moving average is $23.74 and its 200 day moving average is $24.50. The company has a quick ratio of 1.08, a current ratio of 1.13 and a debt-to-equity ratio of 0.29. The stock has a market cap of $18.00 billion, a P/E ratio of 11.28, a P/E/G ratio of 0.36 and a beta of 0.29.

Coterra Energy (NYSE:CTRA) last issued its earnings results on Monday, August 4th. The company reported $0.48 earnings per share (EPS) 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 firm had revenue of $1.97 billion during the quarter, compared to the consensus estimate of $1.78 billion. During the same quarter in the prior year, the business earned $0.37 earnings per share. Coterra Energy’s revenue for the quarter was up 54.6% on a year-over-year basis. Sell-side analysts anticipate that Coterra Energy Inc. will post 1.54 earnings per share for the current fiscal year.

Coterra Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 28th. Shareholders of record on Thursday, August 14th were issued a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a yield of 3.7%. The ex-dividend date of this dividend was Thursday, August 14th. Coterra Energy’s payout ratio is currently 42.11%.

Analyst Upgrades and Downgrades

Several analysts have recently commented on CTRA shares. Stephens reduced their price objective on shares of Coterra Energy from $34.00 to $33.00 and set an “overweight” rating for the company in a research report on Tuesday, October 21st. JPMorgan Chase & Co. raised their price objective on shares of Coterra Energy from $33.00 to $35.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 7th. Raymond James Financial reaffirmed an “outperform” rating and set a $34.00 price objective (down previously from $38.00) on shares of Coterra Energy in a research report on Thursday, September 11th. Wells Fargo & Company raised their price objective on shares of Coterra Energy from $32.00 to $33.00 and gave the stock an “overweight” rating in a research report on Thursday, August 14th. Finally, Roth Capital reduced their price objective on shares of Coterra Energy from $27.00 to $26.00 and set a “buy” rating for the company in a research report on Wednesday, October 15th. Sixteen equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Coterra Energy presently has a consensus rating of “Moderate Buy” and a consensus price target of $32.60.

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.