Coterra Energy Inc. (NYSE:CTRA) Shares Purchased by Wealth Enhancement Advisory Services LLC

Wealth Enhancement Advisory Services LLC boosted its holdings in Coterra Energy Inc. (NYSE:CTRA) by 19.9% during the third quarter, Holdings Channel.com reports. The fund owned 45,640 shares of the company’s stock after acquiring an additional 7,582 shares during the period. Wealth Enhancement Advisory Services LLC’s holdings in Coterra Energy were worth $1,093,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Fortitude Family Office LLC grew its stake 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 acquiring an additional 567 shares during the last quarter. Larson Financial Group LLC lifted its holdings in Coterra Energy by 98.0% in the 2nd 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 purchased a new position in Coterra Energy in the 1st quarter valued at about $44,000. EverSource Wealth Advisors LLC lifted its holdings in Coterra Energy by 31.0% in the 1st quarter. EverSource Wealth Advisors LLC now owns 2,351 shares of the company’s stock valued at $64,000 after purchasing an additional 557 shares in the last quarter. Finally, Values First Advisors Inc. purchased a new position in Coterra Energy in the 3rd quarter valued at about $57,000. 87.92% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts have issued reports on CTRA shares. Roth Capital upgraded shares of Coterra Energy from a “hold” rating to a “strong-buy” rating in a report on Tuesday, August 27th. Barclays reduced their target price on shares of Coterra Energy from $33.00 to $31.00 and set an “overweight” rating on the stock in a report on Thursday, October 3rd. Wolfe Research started coverage on shares of Coterra Energy in a report on Thursday, July 18th. They issued an “outperform” rating and a $35.00 target price on the stock. Mizuho increased their price objective on shares of Coterra Energy from $36.00 to $37.00 and gave the stock an “outperform” rating in a report on Friday, November 1st. Finally, Susquehanna cut their price objective on shares of Coterra Energy from $33.00 to $30.00 and set a “positive” rating on the stock in a report on Wednesday, September 4th. Two research 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 company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $31.29.

Coterra Energy Trading Up 1.1 %

Shares of CTRA stock opened at $23.32 on Wednesday. The stock has a market cap of $17.24 billion, a price-to-earnings ratio of 14.05, a price-to-earnings-growth ratio of 1.40 and a beta of 0.22. The company has a quick ratio of 1.38, a current ratio of 1.61 and a debt-to-equity ratio of 0.16. Coterra Energy Inc. has a fifty-two week low of $22.30 and a fifty-two week high of $28.90. The firm’s 50 day moving average price is $23.75 and its two-hundred day moving average price is $25.62.

Coterra Energy (NYSE:CTRA) last announced its quarterly earnings results on Thursday, October 31st. The company reported $0.32 earnings per share for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.03). The business had revenue of $1.36 billion for the quarter, compared to analyst estimates of $1.28 billion. Coterra Energy had a net margin of 21.91% and a return on equity of 9.38%. The company’s quarterly revenue was up .2% on a year-over-year basis. During the same period last year, the firm earned $0.47 earnings per share. On average, analysts anticipate that Coterra Energy Inc. will post 1.62 EPS for the current year.

Coterra Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 27th. Stockholders of record on Thursday, November 14th will be paid a dividend of $0.21 per share. The ex-dividend date of this dividend is Thursday, November 14th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 3.60%. Coterra Energy’s dividend payout ratio is currently 50.60%.

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.