Coterra Energy Inc. (NYSE:CTRA) Shares Bought by Hourglass Capital LLC

Hourglass Capital LLC grew its holdings in Coterra Energy Inc. (NYSE:CTRA) by 58.0% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 16,350 shares of the company’s stock after acquiring an additional 6,000 shares during the quarter. Hourglass Capital LLC’s holdings in Coterra Energy were worth $392,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Victory Capital Management Inc. increased its position in shares of Coterra Energy by 1.2% during the third quarter. Victory Capital Management Inc. now owns 16,963,084 shares of the company’s stock worth $406,266,000 after purchasing an additional 195,966 shares in the last quarter. King Luther Capital Management Corp increased its position in Coterra Energy by 4.4% during the second quarter. King Luther Capital Management Corp now owns 6,783,690 shares of the company’s stock worth $180,921,000 after buying an additional 285,774 shares during the period. Disciplined Growth Investors Inc. MN lifted its stake in Coterra Energy by 1.0% in the second quarter. Disciplined Growth Investors Inc. MN now owns 5,063,920 shares of the company’s stock valued at $135,055,000 after buying an additional 51,249 shares during the last quarter. American Century Companies Inc. lifted its stake in 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 last quarter. Finally, Equity Investment Corp grew its position in shares of Coterra Energy by 0.7% during the second quarter. Equity Investment Corp now owns 3,227,678 shares of the company’s stock worth $86,082,000 after acquiring an additional 22,017 shares during the last quarter. Institutional investors and hedge funds own 87.92% of the company’s stock.

Coterra Energy Stock Up 1.6 %

Shares of CTRA opened at $25.61 on Thursday. The firm has a market cap of $18.86 billion, a PE ratio of 15.43, a price-to-earnings-growth ratio of 1.64 and a beta of 0.22. The company has a quick ratio of 1.56, a current ratio of 1.61 and a debt-to-equity ratio of 0.16. The company’s fifty day moving average is $23.86 and its two-hundred day moving average is $25.50. Coterra Energy Inc. has a fifty-two week low of $22.30 and a fifty-two week high of $28.90.

Coterra Energy (NYSE:CTRA) last announced its quarterly earnings results on Thursday, October 31st. The company reported $0.32 earnings per share for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.03). Coterra Energy had a net margin of 21.91% and a return on equity of 9.38%. The business had revenue of $1.36 billion for the quarter, compared to analyst estimates of $1.28 billion. During the same period last year, the firm earned $0.47 earnings per share. The company’s quarterly revenue was up .2% on a year-over-year basis. Analysts forecast that Coterra Energy Inc. will post 1.53 earnings per share for the current year.

Coterra Energy Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 27th. Stockholders of record on Thursday, November 14th will be paid a $0.21 dividend. The ex-dividend date of this dividend is Thursday, November 14th. This represents a $0.84 annualized dividend and a dividend yield of 3.28%. Coterra Energy’s dividend payout ratio (DPR) is presently 50.60%.

Analysts Set New Price Targets

CTRA has been the topic of several research reports. Stephens raised their price objective on shares of Coterra Energy from $28.00 to $29.00 and gave the stock an “overweight” rating in a research report on Friday, November 1st. Roth Mkm raised Coterra Energy from a “neutral” rating to a “buy” rating and boosted their target price for the company from $25.00 to $29.00 in a report on Tuesday, August 27th. Barclays dropped their price objective on shares of Coterra Energy from $33.00 to $31.00 and set an “overweight” rating on the stock in a research note on Thursday, October 3rd. Wolfe Research initiated coverage on shares of Coterra Energy in a research note on Thursday, July 18th. They set an “outperform” rating and a $35.00 price target on the stock. Finally, Morgan Stanley reduced their price objective on shares of Coterra Energy from $29.00 to $27.00 and set an “equal weight” rating for the company in a research report on Monday, September 16th. Two investment analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $31.65.

Coterra Energy Company 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.