Coterra Energy Inc. (NYSE:CTRA) Shares Acquired by Empowered Funds LLC

Empowered Funds LLC increased its position in Coterra Energy Inc. (NYSE:CTRA) by 4.6% during the third quarter, Holdings Channel reports. The fund owned 318,729 shares of the company’s stock after purchasing an additional 13,914 shares during the quarter. Empowered Funds LLC’s holdings in Coterra Energy were worth $7,634,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also modified their holdings of the company. Fortitude Family Office LLC increased its stake in Coterra Energy by 154.9% during the 2nd quarter. Fortitude Family Office LLC now owns 933 shares of the company’s stock valued at $25,000 after buying an additional 567 shares during the period. Larson Financial Group LLC increased its stake in Coterra Energy by 98.0% during the 2nd quarter. Larson Financial Group LLC now owns 1,081 shares of the company’s stock valued at $29,000 after buying an additional 535 shares during the period. Values First Advisors Inc. acquired a new position in Coterra Energy during the 3rd quarter valued at about $57,000. Tobam bought a new position in shares of Coterra Energy during the 3rd quarter valued at about $63,000. Finally, EverSource Wealth Advisors LLC boosted its position in shares of Coterra Energy by 31.0% during the 1st quarter. EverSource Wealth Advisors LLC now owns 2,351 shares of the company’s stock valued at $64,000 after purchasing an additional 557 shares in the last quarter. Institutional investors and hedge funds own 87.92% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on CTRA shares. UBS Group raised their price objective on shares of Coterra Energy from $31.00 to $35.00 and gave the company a “buy” rating in a research report on Friday. Scotiabank reduced their price objective 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 10th. Wells Fargo & Company raised their price objective on shares of Coterra Energy from $32.00 to $35.00 and gave the company an “overweight” rating in a research report on Friday. JPMorgan Chase & Co. reduced their price objective on shares of Coterra Energy from $31.00 to $26.00 and set an “overweight” rating for the company in a research report on Thursday, September 12th. Finally, Truist Financial raised their price objective on shares of Coterra Energy from $31.00 to $33.00 and gave the company a “buy” rating in a research report on Thursday. 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 stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $32.41.

Coterra Energy Stock Performance

CTRA stock opened at $25.58 on Friday. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.56 and a current ratio of 1.61. The stock has a market cap of $18.84 billion, a P/E ratio of 15.41, a P/E/G ratio of 1.67 and a beta of 0.22. The firm has a 50 day simple moving average of $23.95 and a 200 day simple moving average of $25.46. Coterra Energy Inc. has a 52 week low of $22.30 and a 52 week high of $28.90.

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

Coterra Energy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 27th. Investors of record on Thursday, November 14th will be given a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a yield of 3.28%. The ex-dividend date is Thursday, November 14th. Coterra Energy’s payout ratio is presently 50.60%.

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.