Interval Partners LP Buys Shares of 179,397 Coterra Energy Inc. (NYSE:CTRA)

Interval Partners LP purchased a new stake in shares of Coterra Energy Inc. (NYSE:CTRA) during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 179,397 shares of the company’s stock, valued at approximately $4,785,000.

Other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. raised its position in shares of Coterra Energy by 0.5% during the 4th quarter. Vanguard Group Inc. now owns 87,927,114 shares of the company’s stock valued at $2,243,900,000 after purchasing an additional 407,244 shares during the period. Schroder Investment Management Group grew its holdings in Coterra Energy by 8.7% during the 4th quarter. Schroder Investment Management Group now owns 7,815,648 shares of the company’s stock valued at $199,455,000 after purchasing an additional 628,132 shares during the last quarter. King Luther Capital Management Corp grew 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 acquiring an additional 285,774 shares in the last quarter. American Century Companies Inc. grew its stake in Coterra Energy by 29.1% in the 2nd quarter. American Century Companies Inc. now owns 4,498,227 shares of the company’s stock worth $119,968,000 after acquiring an additional 1,013,107 shares in the last quarter. Finally, Equity Investment Corp grew its stake in Coterra Energy by 0.7% in the 2nd quarter. Equity Investment Corp now owns 3,227,678 shares of the company’s stock worth $86,082,000 after acquiring an additional 22,017 shares in the last quarter. Hedge funds and other institutional investors own 87.92% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on CTRA. Roth Capital raised shares of Coterra Energy from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, August 27th. Morgan Stanley decreased their price target on shares of Coterra Energy from $29.00 to $27.00 and set an “equal weight” rating for the company in a report on Monday, September 16th. UBS Group lowered 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 Wednesday, September 18th. JPMorgan Chase & Co. lowered their target price on Coterra Energy from $31.00 to $26.00 and set an “overweight” rating on the stock in a research note on Thursday, September 12th. Finally, Roth Mkm upgraded Coterra Energy from a “neutral” rating to a “buy” rating and increased their price target for the stock from $25.00 to $29.00 in a research report on Tuesday, August 27th. Two research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $32.59.

Coterra Energy Trading Up 1.4 %

CTRA stock opened at $23.99 on Tuesday. The business has a fifty day simple moving average of $24.36 and a 200-day simple moving average of $26.38. 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 52 week low of $22.30 and a 52 week high of $29.89. The company has a market cap of $17.85 billion, a price-to-earnings ratio of 13.86, a PEG ratio of 1.16 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 EPS 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 company had revenue of $1.27 billion for the quarter, compared to analyst estimates of $1.32 billion. During the same quarter in the prior year, the business earned $0.38 EPS. Coterra Energy’s revenue was up 7.3% compared to the same quarter last year. On average, equities research analysts expect that Coterra Energy Inc. will post 1.95 EPS for the current year.

Coterra Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 29th. Stockholders of record on Thursday, August 15th were issued a dividend of $0.21 per share. The ex-dividend date of this dividend was Thursday, August 15th. This represents a $0.84 annualized dividend and a dividend yield of 3.50%. Coterra Energy’s payout ratio is 48.55%.

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.