Coterra Energy Inc. $CTRA Shares Bought by Tectonic Advisors LLC

Tectonic Advisors LLC raised its holdings in Coterra Energy Inc. (NYSE:CTRA) by 32.3% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 19,620 shares of the company’s stock after purchasing an additional 4,786 shares during the period. Tectonic Advisors LLC’s holdings in Coterra Energy were worth $498,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the business. Vanguard Group Inc. grew its holdings in Coterra Energy by 4.3% in the first quarter. Vanguard Group Inc. now owns 92,337,673 shares of the company’s stock valued at $2,668,559,000 after purchasing an additional 3,818,700 shares during the period. Wellington Management Group LLP grew its holdings in Coterra Energy by 15.3% in the first quarter. Wellington Management Group LLP now owns 83,631,117 shares of the company’s stock valued at $2,416,939,000 after purchasing an additional 11,102,350 shares during the period. Charles Schwab Investment Management Inc. boosted its stake in shares of Coterra Energy by 7.8% in the first quarter. Charles Schwab Investment Management Inc. now owns 25,304,940 shares of the company’s stock worth $731,313,000 after acquiring an additional 1,837,614 shares during the last quarter. Victory Capital Management Inc. boosted its stake in shares of Coterra Energy by 5.7% in the first quarter. Victory Capital Management Inc. now owns 18,828,688 shares of the company’s stock worth $544,149,000 after acquiring an additional 1,019,995 shares during the last quarter. Finally, Invesco Ltd. boosted its stake in shares of Coterra Energy by 1.2% in the first quarter. Invesco Ltd. now owns 12,384,728 shares of the company’s stock worth $357,919,000 after acquiring an additional 152,244 shares during the last quarter. 87.92% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

CTRA has been the topic of a number of research analyst reports. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Coterra Energy in a research note on Wednesday. Scotiabank lowered their price target on Coterra Energy from $35.00 to $32.00 and set a “sector outperform” rating on the stock in a research note on Thursday. Mizuho lowered their price target on Coterra Energy from $36.00 to $33.00 and set an “outperform” rating on the stock in a research note on Monday, September 15th. JPMorgan Chase & Co. lifted 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. Finally, Raymond James Financial reaffirmed an “outperform” rating and issued a $34.00 price target (down from $38.00) on shares of Coterra Energy in a research note on Thursday, September 11th. Fourteen equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat, Coterra Energy has an average rating of “Moderate Buy” and a consensus price target of $33.06.

Coterra Energy Stock Performance

NYSE CTRA opened at $22.78 on Friday. The stock’s fifty day moving average is $23.90 and its two-hundred day moving average is $24.81. The firm has a market capitalization of $17.38 billion, a P/E ratio of 10.90, a price-to-earnings-growth ratio of 0.33 and a beta of 0.29. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.08 and a current ratio of 1.13. Coterra Energy Inc. has a fifty-two week low of $22.46 and a fifty-two week high of $29.95.

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). The company had revenue of $1.97 billion for the quarter, compared to analyst estimates of $1.78 billion. Coterra Energy had a return on equity of 10.99% and a net margin of 23.80%.The business’s quarterly revenue was up 54.6% on a year-over-year basis. During the same period last year, the firm posted $0.37 EPS. On average, research analysts anticipate that Coterra Energy Inc. will post 1.54 earnings per share for the current year.

Coterra Energy Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 28th. Stockholders of record on Thursday, August 14th were paid a $0.22 dividend. This represents a $0.88 annualized dividend and a dividend yield of 3.9%. The ex-dividend date of this dividend was Thursday, August 14th. 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.