Values First Advisors Inc. Takes Position in Coterra Energy Inc. (NYSE:CTRA)

Values First Advisors Inc. bought a new stake in shares of Coterra Energy Inc. (NYSE:CTRA) in the third quarter, HoldingsChannel.com reports. The institutional investor bought 2,375 shares of the company’s stock, valued at approximately $57,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Wealth Enhancement Advisory Services LLC lifted its holdings in Coterra Energy by 7.2% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 35,751 shares of the company’s stock worth $997,000 after buying an additional 2,403 shares during the period. SeaCrest Wealth Management LLC grew its position in shares of Coterra Energy by 6.9% in the 1st quarter. SeaCrest Wealth Management LLC now owns 8,506 shares of the company’s stock worth $237,000 after buying an additional 549 shares during the period. Sumitomo Mitsui Trust Holdings Inc. increased its stake in shares of Coterra Energy by 0.5% in the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 2,011,692 shares of the company’s stock worth $56,086,000 after acquiring an additional 10,001 shares in the last quarter. Norden Group LLC bought a new stake in Coterra Energy during the first quarter worth about $2,827,000. Finally, Kovack Advisors Inc. bought a new position in shares of Coterra Energy during the first quarter valued at approximately $237,000. Hedge funds and other institutional investors own 87.92% of the company’s stock.

Coterra Energy Trading Down 0.5 %

Shares of NYSE:CTRA opened at $23.87 on Friday. Coterra Energy Inc. has a 52-week low of $22.30 and a 52-week high of $28.90. The stock has a market capitalization of $17.76 billion, a price-to-earnings ratio of 13.80, a PEG ratio of 1.41 and a beta of 0.22. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.38 and a current ratio of 1.40. The stock’s 50-day simple moving average is $23.84 and its two-hundred day simple moving average is $25.84.

Coterra Energy (NYSE:CTRA) last announced its earnings results on Thursday, August 1st. The company reported $0.37 earnings per share (EPS) 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 for the quarter, compared to the consensus estimate of $1.32 billion. During the same quarter last year, the firm posted $0.38 earnings per share. The business’s quarterly revenue was up 7.3% compared to the same quarter last year. Analysts expect that Coterra Energy Inc. will post 1.72 EPS for the current 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 $0.21 dividend. The ex-dividend date of this dividend was Thursday, August 15th. This represents a $0.84 dividend on an annualized basis and a yield of 3.52%. Coterra Energy’s dividend payout ratio is currently 48.55%.

Analyst Upgrades and Downgrades

CTRA has been the subject of a number of analyst reports. Piper Sandler reduced their price objective on Coterra Energy from $39.00 to $31.00 and set an “overweight” rating for the company in a research report on Thursday, August 15th. JPMorgan Chase & Co. dropped their price target on shares of Coterra Energy from $31.00 to $26.00 and set an “overweight” rating on the stock in a research note on Thursday, September 12th. Barclays reduced their price objective 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. Roth Capital upgraded shares of Coterra Energy from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, August 27th. Finally, Scotiabank cut their price target on shares of Coterra Energy from $35.00 to $32.00 and set a “sector outperform” rating on the stock in a report on Thursday, October 10th. Two investment analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $32.06.

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.