Scientech Research LLC Takes Position in Coterra Energy Inc. (NYSE:CTRA)

Scientech Research LLC bought a new position in Coterra Energy Inc. (NYSE:CTRA) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 44,900 shares of the company’s stock, valued at approximately $1,197,000.

Several other hedge funds and other institutional investors have also bought and sold shares of CTRA. Mackenzie Financial Corp increased its stake in Coterra Energy by 1.4% in the 2nd quarter. Mackenzie Financial Corp now owns 133,846 shares of the company’s stock worth $3,570,000 after purchasing an additional 1,788 shares during the period. The Manufacturers Life Insurance Company increased its position in shares of Coterra Energy by 0.3% in the second quarter. The Manufacturers Life Insurance Company now owns 725,344 shares of the company’s stock valued at $19,345,000 after acquiring an additional 2,283 shares during the period. Daymark Wealth Partners LLC raised its stake in shares of Coterra Energy by 23.7% during the second quarter. Daymark Wealth Partners LLC now owns 33,455 shares of the company’s stock valued at $892,000 after acquiring an additional 6,414 shares during the last quarter. AQR Capital Management LLC boosted its holdings in shares of Coterra Energy by 7.2% during the second quarter. AQR Capital Management LLC now owns 2,844,737 shares of the company’s stock worth $75,869,000 after purchasing an additional 190,470 shares during the period. Finally, Abich Financial Wealth Management LLC grew its stake in shares of Coterra Energy by 50.3% in the second quarter. Abich Financial Wealth Management LLC now owns 5,805 shares of the company’s stock worth $155,000 after purchasing an additional 1,944 shares during the last quarter. Hedge funds and other institutional investors own 87.92% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the company. Truist Financial lowered their price target on Coterra Energy from $35.00 to $34.00 and set a “buy” rating for the company in a research report on Monday, July 22nd. UBS Group decreased their target price on Coterra Energy from $34.00 to $31.00 and set a “buy” rating for the company in a report on Wednesday, September 18th. Morgan Stanley dropped their price target on Coterra Energy from $29.00 to $27.00 and set an “equal weight” rating for the company in a research note on Monday, September 16th. BMO Capital Markets raised shares of Coterra Energy to a “hold” rating in a research report on Wednesday, July 3rd. Finally, JPMorgan Chase & Co. decreased their price objective on shares of Coterra Energy from $31.00 to $26.00 and set an “overweight” rating for the company in a report on Thursday, September 12th. Two investment analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Coterra Energy has a consensus rating of “Moderate Buy” and a consensus target price of $32.59.

Coterra Energy Trading Up 2.9 %

Coterra Energy stock opened at $23.74 on Friday. 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 $17.67 billion, a P/E ratio of 13.72, a P/E/G ratio of 1.37 and a beta of 0.22. The company has a quick ratio of 1.38, a current ratio of 1.40 and a debt-to-equity ratio of 0.16. The business has a 50-day simple moving average of $24.07 and a two-hundred day simple moving average of $26.30.

Coterra Energy (NYSE:CTRA) last announced its earnings results on Thursday, August 1st. The company reported $0.37 EPS for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.02). The business had revenue of $1.27 billion for the quarter, compared to analysts’ expectations of $1.32 billion. Coterra Energy had a net margin of 23.18% and a return on equity of 10.48%. The firm’s quarterly revenue was up 7.3% on a year-over-year basis. During the same period in the prior year, the company posted $0.38 earnings per share. Analysts predict that Coterra Energy Inc. will post 1.74 EPS for the current year.

Coterra Energy Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, August 29th. Shareholders of record on Thursday, August 15th were given a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a yield of 3.54%. The ex-dividend date was Thursday, August 15th. Coterra Energy’s payout ratio is 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.