Farther Finance Advisors LLC Buys 1,333 Shares of Coterra Energy Inc. (NYSE:CTRA)

Farther Finance Advisors LLC grew its stake in Coterra Energy Inc. (NYSE:CTRA) by 19.5% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 8,155 shares of the company’s stock after acquiring an additional 1,333 shares during the quarter. Farther Finance Advisors LLC’s holdings in Coterra Energy were worth $195,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of CTRA. King Luther Capital Management Corp boosted its stake in Coterra Energy by 4.4% in the 2nd quarter. King Luther Capital Management Corp now owns 6,783,690 shares of the company’s stock worth $180,921,000 after purchasing an additional 285,774 shares in the last quarter. Disciplined Growth Investors Inc. MN lifted its stake in shares of Coterra Energy by 1.0% in the second quarter. Disciplined Growth Investors Inc. MN now owns 5,063,920 shares of the company’s stock worth $135,055,000 after buying an additional 51,249 shares in the last quarter. American Century Companies Inc. grew its holdings in shares of Coterra Energy by 29.1% during the second quarter. American Century Companies Inc. now owns 4,498,227 shares of the company’s stock valued at $119,968,000 after buying an additional 1,013,107 shares during the last quarter. Equity Investment Corp increased its position in shares of Coterra Energy by 0.7% during the second quarter. Equity Investment Corp now owns 3,227,678 shares of the company’s stock valued at $86,082,000 after acquiring an additional 22,017 shares in the last quarter. Finally, Captrust Financial Advisors raised its holdings in Coterra Energy by 4.6% in the 1st quarter. Captrust Financial Advisors now owns 2,952,024 shares of the company’s stock worth $78,422,000 after acquiring an additional 128,720 shares during the last quarter. 87.92% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages have commented on CTRA. Barclays cut their target price on Coterra Energy from $33.00 to $31.00 and set an “overweight” rating on the stock in a research note on Thursday, October 3rd. Roth Capital raised Coterra Energy from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, August 27th. Piper Sandler reaffirmed an “overweight” rating and set a $32.00 price target (up previously from $31.00) on shares of Coterra Energy in a report on Monday, November 4th. Wells Fargo & Company reduced their price target on shares of Coterra Energy from $34.00 to $32.00 and set an “overweight” rating for the company in a research note on Tuesday, October 1st. Finally, Wolfe Research assumed coverage on shares of Coterra Energy in a research report on Thursday, July 18th. They set an “outperform” rating and a $35.00 price objective on the stock. 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 company’s stock. According to MarketBeat, Coterra Energy currently has an average rating of “Moderate Buy” and an average price target of $31.29.

Coterra Energy Price Performance

NYSE CTRA opened at $24.58 on Friday. Coterra Energy Inc. has a fifty-two week low of $22.30 and a fifty-two week high of $28.90. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.38 and a current ratio of 1.61. The company has a market capitalization of $18.11 billion, a PE ratio of 14.81, a price-to-earnings-growth ratio of 1.54 and a beta of 0.22. The business’s fifty day moving average is $23.77 and its 200 day moving average is $25.56.

Coterra Energy (NYSE:CTRA) last issued its earnings results on Thursday, October 31st. The company reported $0.32 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.35 by ($0.03). The business had revenue of $1.36 billion for the quarter, compared to the consensus estimate of $1.28 billion. Coterra Energy had a net margin of 21.91% and a return on equity of 9.38%. The firm’s revenue for the quarter was up .2% compared to the same quarter last year. During the same period last year, the business posted $0.47 EPS. Sell-side analysts predict that Coterra Energy Inc. will post 1.59 earnings per share for the current year.

Coterra Energy Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 27th. Investors of record on Thursday, November 14th will be paid a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a yield of 3.42%. The ex-dividend date is Thursday, November 14th. Coterra Energy’s payout ratio is 50.60%.

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.