Core Alternative Capital Increases Holdings in Coterra Energy Inc. (NYSE:CTRA)

Core Alternative Capital increased its stake in shares of Coterra Energy Inc. (NYSE:CTRA) by 13.9% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 82,480 shares of the company’s stock after acquiring an additional 10,081 shares during the quarter. Core Alternative Capital’s holdings in Coterra Energy were worth $2,200,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Quarry LP purchased a new position in shares of Coterra Energy in the second quarter valued at $186,000. Sunbelt Securities Inc. grew its stake in shares of Coterra Energy by 1.1% in the 2nd quarter. Sunbelt Securities Inc. now owns 50,222 shares of the company’s stock worth $1,339,000 after buying an additional 542 shares in the last quarter. NewEdge Advisors LLC raised its position in shares of Coterra Energy by 198.8% during the 2nd quarter. NewEdge Advisors LLC now owns 82,825 shares of the company’s stock valued at $2,209,000 after buying an additional 55,109 shares in the last quarter. Disciplined Growth Investors Inc. MN boosted its holdings in shares of Coterra Energy by 1.0% in the 2nd quarter. Disciplined Growth Investors Inc. MN now owns 5,063,920 shares of the company’s stock worth $135,055,000 after purchasing an additional 51,249 shares during the period. Finally, Creative Planning boosted its stake in Coterra Energy by 6.7% during the second quarter. Creative Planning now owns 62,356 shares of the company’s stock worth $1,663,000 after buying an additional 3,926 shares during the period. Institutional investors own 87.92% of the company’s stock.

Coterra Energy Trading Up 2.9 %

Shares of NYSE:CTRA opened at $23.74 on Monday. The company has a market cap of $17.67 billion, a PE ratio of 13.72, a P/E/G ratio of 1.37 and a beta of 0.22. The company’s 50 day moving average is $24.07 and its two-hundred day moving average is $26.30. Coterra Energy Inc. has a 52 week low of $22.30 and a 52 week high of $29.89. The company has a current ratio of 1.40, a quick ratio of 1.38 and a debt-to-equity ratio of 0.16.

Coterra Energy (NYSE:CTRA) last released its quarterly earnings data on Thursday, August 1st. The company reported $0.37 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 analysts’ expectations of $1.32 billion. Coterra Energy had a net margin of 23.18% and a return on equity of 10.48%. The company’s revenue was up 7.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.38 EPS. Equities analysts predict that Coterra Energy Inc. will post 1.74 earnings per share for the current fiscal year.

Coterra Energy Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, August 29th. Stockholders of record on Thursday, August 15th were issued a $0.21 dividend. This represents a $0.84 annualized dividend and a dividend yield of 3.54%. The ex-dividend date of this dividend was Thursday, August 15th. Coterra Energy’s payout ratio is 48.55%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the company. Bank of America reaffirmed a “buy” rating and set a $34.00 target price on shares of Coterra Energy in a research report on Friday, June 14th. Piper Sandler cut their price target on shares of Coterra Energy from $39.00 to $31.00 and set an “overweight” rating on the stock in a report on Thursday, August 15th. Truist Financial cut their price objective 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. Morgan Stanley lowered their price target on 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. Finally, UBS Group reduced their target price on shares of Coterra Energy from $34.00 to $31.00 and set a “buy” rating for the company in a report on Wednesday, September 18th. Two investment analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $32.59.

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.