Sippican Capital Advisors Buys 834 Shares of Coterra Energy Inc. (NYSE:CTRA)

Sippican Capital Advisors grew its holdings in Coterra Energy Inc. (NYSE:CTRA) by 1.3% during the 3rd quarter, Holdings Channel reports. The firm owned 64,019 shares of the company’s stock after purchasing an additional 834 shares during the period. Sippican Capital Advisors’ holdings in Coterra Energy were worth $1,533,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the business. Fortitude Family Office LLC grew its stake in shares of Coterra Energy by 154.9% in the second quarter. Fortitude Family Office LLC now owns 933 shares of the company’s stock valued at $25,000 after buying an additional 567 shares in the last quarter. Larson Financial Group LLC boosted its position in Coterra Energy by 98.0% during the second quarter. Larson Financial Group LLC now owns 1,081 shares of the company’s stock worth $29,000 after purchasing an additional 535 shares during the period. Central Pacific Bank Trust Division bought a new position in Coterra Energy during the first quarter worth $44,000. Values First Advisors Inc. acquired a new stake in shares of Coterra Energy during the third quarter worth $57,000. Finally, Tobam acquired a new stake in shares of Coterra Energy during the third quarter worth $63,000. Institutional investors own 87.92% of the company’s stock.

Coterra Energy Trading Down 0.2 %

Coterra Energy stock traded down $0.06 during mid-day trading on Thursday, hitting $24.07. The company’s stock had a trading volume of 50,067 shares, compared to its average volume of 6,166,507. The company has a 50 day moving average of $23.82 and a 200-day moving average of $25.74. The stock has a market cap of $17.79 billion, a PE ratio of 13.95, a P/E/G ratio of 1.41 and a beta of 0.22. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.38 and a current ratio of 1.40. Coterra Energy Inc. has a one year low of $22.30 and a one year high of $28.90.

Coterra Energy (NYSE:CTRA) last issued its quarterly earnings data 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 company had revenue of $1.27 billion for the quarter, compared to analysts’ expectations of $1.32 billion. Coterra Energy had a return on equity of 10.48% and a net margin of 23.18%. The company’s revenue for the quarter was up 7.3% compared to the same quarter last year. During the same quarter last year, the company earned $0.38 earnings per share. On average, research analysts anticipate that Coterra Energy Inc. will post 1.72 EPS for the current year.

Analysts Set New Price Targets

Several research analysts have commented on CTRA shares. UBS Group lowered their target price on Coterra Energy from $34.00 to $31.00 and set a “buy” rating for the company in a research note on Wednesday, September 18th. Susquehanna lowered their target price on Coterra Energy from $33.00 to $30.00 and set a “positive” rating for the company in a research note on Wednesday, September 4th. Barclays reduced their price target on Coterra Energy from $33.00 to $31.00 and set an “overweight” rating on the stock in a report on Thursday, October 3rd. Roth Mkm upgraded Coterra Energy from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $25.00 to $29.00 in a report on Tuesday, August 27th. Finally, Wells Fargo & Company reduced their target price on Coterra Energy from $34.00 to $32.00 and set an “overweight” rating on the stock in a report on Tuesday, October 1st. Two investment analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $32.06.

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.