Beck Capital Management LLC Has $1.62 Million Holdings in Coterra Energy Inc. (NYSE:CTRA)

Beck Capital Management LLC raised its holdings in shares of Coterra Energy Inc. (NYSE:CTRA) by 3.7% during the 2nd quarter, HoldingsChannel reports. The fund owned 60,592 shares of the company’s stock after purchasing an additional 2,183 shares during the period. Beck Capital Management LLC’s holdings in Coterra Energy were worth $1,616,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Vanguard Group Inc. increased its stake in Coterra Energy by 0.5% in the 4th quarter. Vanguard Group Inc. now owns 87,927,114 shares of the company’s stock valued at $2,243,900,000 after buying an additional 407,244 shares during the period. Schroder Investment Management Group increased its stake in shares of Coterra Energy by 8.7% in the fourth quarter. Schroder Investment Management Group now owns 7,815,648 shares of the company’s stock worth $199,455,000 after acquiring an additional 628,132 shares during the last quarter. King Luther Capital Management Corp raised its holdings in shares of 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 acquiring an additional 285,774 shares in the last quarter. American Century Companies Inc. boosted its position in Coterra Energy by 29.1% during the second quarter. American Century Companies Inc. now owns 4,498,227 shares of the company’s stock valued at $119,968,000 after purchasing an additional 1,013,107 shares during the last quarter. Finally, Equity Investment Corp grew its stake in Coterra Energy by 0.7% in the second quarter. Equity Investment Corp now owns 3,227,678 shares of the company’s stock valued at $86,082,000 after purchasing an additional 22,017 shares in the last quarter. Institutional investors and hedge funds own 87.92% of the company’s stock.

Coterra Energy Price Performance

Shares of NYSE:CTRA opened at $23.66 on Monday. The company has a quick ratio of 1.38, a current ratio of 1.40 and a debt-to-equity ratio of 0.16. The business has a 50 day moving average price of $24.42 and a 200 day moving average price of $26.39. The company has a market cap of $17.61 billion, a price-to-earnings ratio of 13.68, a PEG ratio of 1.16 and a beta of 0.22. Coterra Energy Inc. has a twelve month low of $22.30 and a twelve month high of $29.89.

Coterra Energy (NYSE:CTRA) last posted its quarterly earnings data on Thursday, August 1st. The company reported $0.37 earnings per share for the quarter, missing the consensus estimate of $0.39 by ($0.02). Coterra Energy had a net margin of 23.18% and a return on equity of 10.48%. The business had revenue of $1.27 billion during the quarter, compared to the consensus estimate of $1.32 billion. During the same period in the prior year, the company posted $0.38 earnings per share. The firm’s revenue was up 7.3% compared to the same quarter last year. Research analysts predict that Coterra Energy Inc. will post 1.95 earnings per share for the current year.

Coterra Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 29th. Stockholders of record on Thursday, August 15th were issued a dividend of $0.21 per share. The ex-dividend date was Thursday, August 15th. This represents a $0.84 annualized dividend and a dividend yield of 3.55%. Coterra Energy’s payout ratio is 48.55%.

Analyst Ratings Changes

A number of research firms have recently weighed in on CTRA. Morgan Stanley cut their price target on Coterra Energy from $29.00 to $27.00 and set an “equal weight” rating for the company in a research note on Monday, September 16th. Roth Capital upgraded shares of Coterra Energy from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, August 27th. Bank of America restated a “buy” rating and set a $34.00 price target on shares of Coterra Energy in a research note on Friday, June 14th. Truist Financial cut their price target on shares of Coterra Energy from $35.00 to $34.00 and set a “buy” rating on the stock in a report on Monday, July 22nd. Finally, JPMorgan Chase & Co. decreased their price objective on shares of Coterra Energy from $31.00 to $26.00 and set an “overweight” rating for the company in a report on Thursday, September 12th. Two investment 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’s stock. According to data from MarketBeat.com, Coterra Energy currently has a consensus rating of “Moderate Buy” and an average target price of $32.59.

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.