Coterra Energy Inc. $CTRA Shares Purchased by Concurrent Investment Advisors LLC

Concurrent Investment Advisors LLC boosted its stake in Coterra Energy Inc. (NYSE:CTRA) by 73.3% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 13,042 shares of the company’s stock after purchasing an additional 5,517 shares during the period. Concurrent Investment Advisors LLC’s holdings in Coterra Energy were worth $331,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its holdings in Coterra Energy by 4.3% in the 1st 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 last quarter. Wellington Management Group LLP boosted its position in Coterra Energy by 15.3% in the 1st quarter. Wellington Management Group LLP now owns 83,631,117 shares of the company’s stock valued at $2,416,939,000 after buying an additional 11,102,350 shares during the period. Charles Schwab Investment Management Inc. boosted its position in Coterra Energy by 7.8% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 25,304,940 shares of the company’s stock valued at $731,313,000 after buying an additional 1,837,614 shares during the period. Victory Capital Management Inc. boosted its position 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 valued at $544,149,000 after buying an additional 1,019,995 shares during the period. Finally, Invesco Ltd. boosted its position in Coterra Energy by 1.2% in the 1st quarter. Invesco Ltd. now owns 12,384,728 shares of the company’s stock valued at $357,919,000 after buying an additional 152,244 shares during the period. Institutional investors and hedge funds own 87.92% of the company’s stock.

Analyst Upgrades and Downgrades

CTRA has been the subject of several recent research reports. Weiss Ratings reissued a “hold (c)” rating on shares of Coterra Energy in a research report on Wednesday, October 8th. Mizuho decreased their price target 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. Scotiabank decreased their price target on shares of Coterra Energy from $35.00 to $32.00 and set a “sector outperform” rating for the company in a research report on Thursday, October 9th. Piper Sandler raised their price target on shares of Coterra Energy from $37.00 to $39.00 and gave the company an “overweight” rating in a research report on Thursday, August 14th. Finally, Roth Capital decreased their price target 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 analysts have rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, Coterra Energy currently has an average rating of “Moderate Buy” and an average target price of $32.50.

Coterra Energy Price Performance

Coterra Energy stock opened at $22.82 on Monday. The stock has a market cap of $17.41 billion, a P/E ratio of 10.92, a price-to-earnings-growth ratio of 0.34 and a beta of 0.29. The company has a fifty day simple moving average of $23.80 and a 200-day simple moving average of $24.56. Coterra Energy Inc. has a 12-month low of $22.33 and a 12-month high of $29.95. The company has a current ratio of 1.13, a quick ratio of 1.08 and a debt-to-equity ratio of 0.29.

Coterra Energy (NYSE:CTRA) last released its quarterly earnings data on Monday, August 4th. The company reported $0.48 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.50 by ($0.02). The firm had revenue of $1.97 billion for the quarter, compared to analysts’ expectations of $1.78 billion. Coterra Energy had a return on equity of 10.99% and a net margin of 23.80%.Coterra Energy’s revenue for the quarter was up 54.6% on a year-over-year basis. During the same period last year, the firm posted $0.37 earnings per share. Equities analysts expect that Coterra Energy Inc. will post 1.54 EPS for the current fiscal year.

Coterra Energy Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, August 28th. Investors of record on Thursday, August 14th were given a $0.22 dividend. The ex-dividend date of this dividend was Thursday, August 14th. This represents a $0.88 dividend on an annualized basis and a yield of 3.9%. Coterra Energy’s 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.