Evergreen Capital Management LLC Has $8.52 Million Holdings in Coterra Energy Inc. (NYSE:CTRA)

Evergreen Capital Management LLC lifted its holdings in shares of Coterra Energy Inc. (NYSE:CTRA) by 0.5% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 319,616 shares of the company’s stock after buying an additional 1,441 shares during the quarter. Evergreen Capital Management LLC’s holdings in Coterra Energy were worth $8,524,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Fifth Third Bancorp boosted its stake in Coterra Energy by 0.6% in the second quarter. Fifth Third Bancorp now owns 71,138 shares of the company’s stock valued at $1,897,000 after acquiring an additional 399 shares during the last quarter. TCW Group Inc. raised its holdings in Coterra Energy by 4.0% in the second quarter. TCW Group Inc. now owns 10,447 shares of the company’s stock worth $279,000 after purchasing an additional 404 shares during the period. Redwood Wealth Management Group LLC boosted its position in shares of Coterra Energy by 2.3% during the first quarter. Redwood Wealth Management Group LLC now owns 18,974 shares of the company’s stock worth $529,000 after purchasing an additional 429 shares in the last quarter. Cornercap Investment Counsel Inc. grew its holdings in shares of Coterra Energy by 0.7% in the 2nd quarter. Cornercap Investment Counsel Inc. now owns 66,280 shares of the company’s stock valued at $1,768,000 after buying an additional 436 shares during the period. Finally, Quent Capital LLC increased its holdings in shares of Coterra Energy by 8.1% in the first quarter. Quent Capital LLC now owns 5,923 shares of the company’s stock worth $165,000 after acquiring an additional 445 shares in the last quarter. Institutional investors and hedge funds own 87.92% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently issued reports on CTRA shares. Wolfe Research initiated coverage on Coterra Energy in a research report on Thursday, July 18th. They issued an “outperform” rating and a $35.00 price objective for the company. Truist Financial lowered their price objective on shares of Coterra Energy from $35.00 to $34.00 and set a “buy” rating for the company in a research report on Monday, July 22nd. Piper Sandler cut their price objective on shares of Coterra Energy from $39.00 to $31.00 and set an “overweight” rating on the stock in a research report on Thursday, August 15th. Morgan Stanley reduced their target price on shares of 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. Finally, Susquehanna dropped their price target on Coterra Energy from $33.00 to $30.00 and set a “positive” rating on the stock in a research note on Wednesday, September 4th. Two research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $32.59.

Coterra Energy Stock Up 0.4 %

Shares of CTRA stock opened at $23.66 on Monday. Coterra Energy Inc. has a 52-week low of $22.30 and a 52-week high of $29.89. The stock 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. The firm’s 50-day moving average is $24.42 and its 200-day moving average is $26.39. 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 (NYSE:CTRA) last released its quarterly earnings data on Thursday, August 1st. The company reported $0.37 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.02). The business had revenue of $1.27 billion during the quarter, compared to analyst estimates of $1.32 billion. Coterra Energy had a net margin of 23.18% and a return on equity of 10.48%. The business’s quarterly revenue was up 7.3% on a year-over-year basis. During the same period in the previous year, the business earned $0.38 earnings per share. Sell-side analysts predict that Coterra Energy Inc. will post 1.95 EPS for the current year.

Coterra Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 29th. Shareholders of record on Thursday, August 15th were issued a $0.21 dividend. 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 dividend payout ratio is currently 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.