New Wave Wealth Advisors LLC Takes $245,000 Position in Coterra Energy Inc. (NYSE:CTRA)

New Wave Wealth Advisors LLC bought a new position in shares of Coterra Energy Inc. (NYSE:CTRA) during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 9,197 shares of the company’s stock, valued at approximately $245,000.

Other institutional investors have also added to or reduced their stakes in the company. Fortitude Family Office LLC grew its position in Coterra Energy by 154.9% during the second quarter. Fortitude Family Office LLC now owns 933 shares of the company’s stock worth $25,000 after buying an additional 567 shares in the last quarter. Larson Financial Group LLC boosted its holdings in Coterra Energy by 98.0% during the second quarter. Larson Financial Group LLC now owns 1,081 shares of the company’s stock valued at $29,000 after purchasing an additional 535 shares in the last quarter. Central Pacific Bank Trust Division acquired a new stake in Coterra Energy during the first quarter valued at approximately $44,000. Harbor Investment Advisory LLC boosted its holdings in Coterra Energy by 869.3% during the first quarter. Harbor Investment Advisory LLC now owns 1,609 shares of the company’s stock valued at $45,000 after purchasing an additional 1,443 shares in the last quarter. Finally, Northwest Investment Counselors LLC acquired a new stake in Coterra Energy during the first quarter valued at approximately $47,000. 87.92% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

CTRA has been the topic of a number of recent research reports. Piper Sandler decreased their price objective on Coterra Energy from $39.00 to $31.00 and set an “overweight” rating on the stock in a report on Thursday, August 15th. Roth Mkm raised Coterra Energy from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $25.00 to $29.00 in a report on Tuesday, August 27th. UBS Group decreased their price objective on Coterra Energy from $34.00 to $31.00 and set a “buy” rating on the stock in a report on Wednesday, September 18th. Morgan Stanley decreased their price objective on Coterra Energy from $29.00 to $27.00 and set an “equal weight” rating on the stock in a report on Monday, September 16th. Finally, BMO Capital Markets raised Coterra Energy to a “hold” rating in a report on Wednesday, July 3rd. Two investment analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Coterra Energy currently has a consensus rating of “Moderate Buy” and a consensus target price of $32.53.

Coterra Energy Stock Performance

CTRA stock opened at $24.15 on Wednesday. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.40 and a quick ratio of 1.38. The company has a 50 day moving average price of $24.01 and a 200 day moving average price of $26.27. Coterra Energy Inc. has a fifty-two week low of $22.30 and a fifty-two week high of $29.89. The stock has a market capitalization of $17.97 billion, a PE ratio of 13.96, a price-to-earnings-growth ratio of 1.37 and a beta of 0.22.

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 return on equity of 10.48% and a net margin of 23.18%. The company had revenue of $1.27 billion during the quarter, compared to the consensus estimate of $1.32 billion. During the same quarter last year, the firm earned $0.38 EPS. The business’s revenue for the quarter was up 7.3% on a year-over-year basis. Analysts forecast that Coterra Energy Inc. will post 1.74 EPS for the current year.

Coterra Energy Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 29th. Shareholders of record on Thursday, August 15th were given a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a dividend yield of 3.48%. The ex-dividend date of this dividend was Thursday, August 15th. Coterra Energy’s payout ratio is 48.55%.

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.