Wealth Enhancement Advisory Services LLC Acquires 35,027 Shares of Coterra Energy Inc. $CTRA

Wealth Enhancement Advisory Services LLC boosted its holdings in Coterra Energy Inc. (NYSE:CTRA) by 71.7% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 83,886 shares of the company’s stock after purchasing an additional 35,027 shares during the quarter. Wealth Enhancement Advisory Services LLC’s holdings in Coterra Energy were worth $2,058,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. QRG Capital Management Inc. lifted its position in shares of Coterra Energy by 67.0% in the third quarter. QRG Capital Management Inc. now owns 143,188 shares of the company’s stock worth $3,386,000 after buying an additional 57,461 shares in the last quarter. State of Michigan Retirement System increased its stake in Coterra Energy by 5.8% in the 2nd quarter. State of Michigan Retirement System now owns 244,459 shares of the company’s stock worth $6,204,000 after acquiring an additional 13,500 shares during the last quarter. Truist Financial Corp raised its holdings in shares of Coterra Energy by 165.3% during the 2nd quarter. Truist Financial Corp now owns 4,213,315 shares of the company’s stock worth $106,934,000 after acquiring an additional 2,625,126 shares in the last quarter. Resona Asset Management Co. Ltd. boosted its position in shares of Coterra Energy by 30.1% during the 2nd quarter. Resona Asset Management Co. Ltd. now owns 294,598 shares of the company’s stock valued at $7,486,000 after acquiring an additional 68,100 shares during the last quarter. Finally, Strs Ohio increased its position in Coterra Energy by 58.5% in the second quarter. Strs Ohio now owns 87,745 shares of the company’s stock worth $2,227,000 after purchasing an additional 32,376 shares during the last quarter. Institutional investors own 87.92% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have commented on CTRA shares. The Goldman Sachs Group lowered their price objective on shares of Coterra Energy from $30.00 to $29.00 and set a “neutral” rating for the company in a research report on Wednesday, October 15th. Scotiabank set a $31.00 price target on shares of Coterra Energy in a report on Friday, January 16th. Raymond James Financial boosted their price objective on Coterra Energy from $28.00 to $31.00 and gave the stock an “outperform” rating in a research note on Monday, November 24th. Johnson Rice lowered their price objective on Coterra Energy from $38.00 to $37.00 in a research note on Friday, December 5th. Finally, BMO Capital Markets dropped their target price on Coterra Energy from $33.00 to $32.00 and set a “market perform” rating for the company in a report on Monday, December 15th. Sixteen equities research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $32.76.

Coterra Energy Price Performance

CTRA opened at $28.09 on Friday. The business has a fifty day moving average of $26.25 and a 200 day moving average of $24.88. The stock has a market cap of $21.39 billion, a P/E ratio of 12.94, a PEG ratio of 0.66 and a beta of 0.36. The company has a quick ratio of 0.98, a current ratio of 1.02 and a debt-to-equity ratio of 0.25. Coterra Energy Inc. has a 52-week low of $22.33 and a 52-week high of $29.82.

Coterra Energy (NYSE:CTRA) last released its earnings results on Monday, November 3rd. The company reported $0.41 earnings per share for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.02). The business had revenue of $1.82 billion during the quarter, compared to analysts’ expectations of $1.83 billion. Coterra Energy had a return on equity of 11.23% and a net margin of 23.25%.The business’s revenue for the quarter was up 33.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.32 EPS. As a group, sell-side analysts anticipate that Coterra Energy Inc. will post 1.54 EPS for the current year.

Coterra Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, November 26th. Investors of record on Thursday, November 13th were issued a dividend of $0.22 per share. The ex-dividend date was Thursday, November 13th. This represents a $0.88 dividend on an annualized basis and a yield of 3.1%. Coterra Energy’s dividend payout ratio (DPR) is presently 40.55%.

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.