Inspire Investing LLC Buys 1,919 Shares of Coterra Energy Inc. (NYSE:CTRA)

Inspire Investing LLC increased its stake in shares of Coterra Energy Inc. (NYSE:CTRA) by 18.9% during the 3rd quarter, Holdings Channel.com reports. The firm owned 12,067 shares of the company’s stock after acquiring an additional 1,919 shares during the quarter. Inspire Investing LLC’s holdings in Coterra Energy were worth $289,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Fortitude Family Office LLC boosted its position in Coterra Energy by 154.9% in 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 last quarter. Larson Financial Group LLC increased its position in Coterra Energy by 98.0% in the second quarter. Larson Financial Group LLC now owns 1,081 shares of the company’s stock worth $29,000 after purchasing an additional 535 shares during the period. Central Pacific Bank Trust Division bought a new stake in Coterra Energy during the 1st quarter worth about $44,000. Harbor Investment Advisory LLC lifted its position in Coterra Energy by 869.3% during the 1st 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 during the period. Finally, Northwest Investment Counselors LLC bought a new position in shares of Coterra Energy in the 1st quarter valued at about $47,000. Institutional investors and hedge funds own 87.92% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on CTRA shares. Barclays dropped their price target on shares of Coterra Energy from $33.00 to $31.00 and set an “overweight” rating for the company in a research note on Thursday, October 3rd. Piper Sandler cut their price target on Coterra Energy from $39.00 to $31.00 and set an “overweight” rating on the stock in a research note on Thursday, August 15th. UBS Group decreased their price objective on Coterra Energy from $34.00 to $31.00 and set a “buy” rating for the company in a research note on Wednesday, September 18th. Truist Financial cut their target price on Coterra Energy from $34.00 to $31.00 and set a “buy” rating on the stock in a research note on Monday, September 30th. Finally, Roth Capital upgraded Coterra Energy from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, August 27th. Two 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. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $32.06.

Coterra Energy Price Performance

Shares of CTRA opened at $23.78 on Friday. The company has a quick ratio of 1.38, a current ratio of 1.40 and a debt-to-equity ratio of 0.16. Coterra Energy Inc. has a twelve month low of $22.30 and a twelve month high of $29.79. The stock has a market capitalization of $17.70 billion, a P/E ratio of 13.75, a P/E/G ratio of 1.41 and a beta of 0.22. The company has a 50 day moving average of $23.87 and a 200-day moving average of $25.99.

Coterra Energy (NYSE:CTRA) last released its earnings results on Thursday, August 1st. The company reported $0.37 earnings per share for the quarter, missing analysts’ consensus estimates 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 last year, the business posted $0.38 EPS. The firm’s revenue for the quarter was up 7.3% on a year-over-year basis. As a group, equities research analysts forecast that Coterra Energy Inc. will post 1.72 EPS for the current fiscal year.

Coterra Energy Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, August 29th. Investors 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 yield of 3.53%. Coterra Energy’s payout ratio is presently 48.55%.

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.