Sky Investment Group LLC Has $321,000 Stock Position in Coterra Energy Inc. (NYSE:CTRA)

Sky Investment Group LLC increased its position in shares of Coterra Energy Inc. (NYSE:CTRA) by 8.1% during the 3rd quarter, HoldingsChannel reports. The fund owned 13,407 shares of the company’s stock after purchasing an additional 1,000 shares during the quarter. Sky Investment Group LLC’s holdings in Coterra Energy were worth $321,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Bank of Montreal Can grew its holdings in Coterra Energy by 160.1% during the second quarter. Bank of Montreal Can now owns 2,898,876 shares of the company’s stock valued at $80,154,000 after purchasing an additional 1,784,192 shares during the period. SG Americas Securities LLC increased its stake in Coterra Energy by 2,609.6% during the 1st quarter. SG Americas Securities LLC now owns 1,541,342 shares of the company’s stock worth $42,973,000 after purchasing an additional 1,484,458 shares in the last quarter. Marshall Wace LLP raised its holdings in Coterra Energy by 5,325.5% during the 2nd quarter. Marshall Wace LLP now owns 1,148,569 shares of the company’s stock worth $30,632,000 after buying an additional 1,127,399 shares during the period. Clearbridge Investments LLC bought a new position in Coterra Energy in the first quarter valued at approximately $28,967,000. Finally, American Century Companies Inc. boosted its holdings in shares of Coterra Energy by 29.1% in the second quarter. American Century Companies Inc. now owns 4,498,227 shares of the company’s stock valued at $119,968,000 after buying an additional 1,013,107 shares during the period. 87.92% of the stock is owned by institutional investors.

Analyst Ratings Changes

CTRA has been the topic of several recent research reports. Roth Capital raised Coterra Energy from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, August 27th. Roth Mkm upgraded shares of Coterra Energy from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $25.00 to $29.00 in a research note on Tuesday, August 27th. BMO Capital Markets upgraded Coterra Energy to a “hold” rating in a report on Wednesday, July 3rd. UBS Group lowered their target price on shares of Coterra Energy from $34.00 to $31.00 and set a “buy” rating on the stock in a report on Wednesday, September 18th. Finally, JPMorgan Chase & Co. reduced their price target on Coterra Energy from $31.00 to $26.00 and set an “overweight” rating for the company in a report on Thursday, September 12th. Two research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $32.06.

Coterra Energy Trading Down 0.1 %

Shares of NYSE CTRA traded down $0.03 during trading on Tuesday, reaching $23.77. The company had a trading volume of 476,189 shares, compared to its average volume of 6,207,969. The company’s fifty day moving average price is $23.86 and its 200-day moving average price is $25.93. Coterra Energy Inc. has a 12 month low of $22.30 and a 12 month high of $28.90. The stock has a market cap of $17.69 billion, a P/E ratio of 13.76, a PEG ratio of 1.41 and a beta of 0.22. The company has a quick ratio of 1.38, a current ratio of 1.40 and a debt-to-equity ratio of 0.16.

Coterra Energy (NYSE:CTRA) last announced its earnings results on Thursday, August 1st. The company reported $0.37 earnings per share for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.02). The firm had revenue of $1.27 billion for the quarter, compared to the consensus estimate of $1.32 billion. Coterra Energy had a return on equity of 10.48% and a net margin of 23.18%. Coterra Energy’s quarterly revenue was up 7.3% on a year-over-year basis. During the same period in the prior year, the business earned $0.38 EPS. As a group, research analysts expect that Coterra Energy Inc. will post 1.72 earnings per share for the current year.

Coterra Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 29th. Shareholders of record on Thursday, August 15th were issued a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 3.53%. The ex-dividend date of this dividend was Thursday, August 15th. Coterra Energy’s payout ratio is 48.55%.

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.