Ascension Asset Management LLC Has $1.06 Million Stock Position in Coterra Energy Inc. (NYSE:CTRA)

Ascension Asset Management LLC lessened its stake in Coterra Energy Inc. (NYSE:CTRA) by 1.2% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 39,800 shares of the company’s stock after selling 500 shares during the quarter. Ascension Asset Management LLC’s holdings in Coterra Energy were worth $1,061,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Disciplined Growth Investors Inc. MN increased its holdings in Coterra Energy by 1.0% in the 2nd quarter. Disciplined Growth Investors Inc. MN now owns 5,063,920 shares of the company’s stock valued at $135,055,000 after buying an additional 51,249 shares during the period. Creative Planning boosted its position in shares of Coterra Energy by 6.7% during the 2nd quarter. Creative Planning now owns 62,356 shares of the company’s stock worth $1,663,000 after acquiring an additional 3,926 shares in the last quarter. Algert Global LLC increased its stake in Coterra Energy by 16.3% in the second quarter. Algert Global LLC now owns 14,625 shares of the company’s stock valued at $390,000 after acquiring an additional 2,055 shares during the last quarter. Texas Capital Bank Wealth Management Services Inc raised its position in Coterra Energy by 9.4% during the second quarter. Texas Capital Bank Wealth Management Services Inc now owns 8,937 shares of the company’s stock valued at $238,000 after purchasing an additional 766 shares in the last quarter. Finally, Susquehanna Fundamental Investments LLC bought a new stake in Coterra Energy during the second quarter worth $12,898,000. Institutional investors own 87.92% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the company. UBS Group lowered their price target on Coterra Energy from $34.00 to $31.00 and set a “buy” rating for the company in a report on Wednesday, September 18th. Piper Sandler dropped their target price on shares of Coterra Energy from $39.00 to $31.00 and set an “overweight” rating for the company in a report on Thursday, August 15th. Truist Financial decreased their price target on shares of Coterra Energy from $35.00 to $34.00 and set a “buy” rating on the stock in a report on Monday, July 22nd. Morgan Stanley dropped their price objective on shares of 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. Finally, Roth Capital raised shares of Coterra Energy from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, August 27th. Two investment analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $32.59.

Coterra Energy Stock Up 2.9 %

Shares of NYSE CTRA opened at $23.74 on Friday. The company’s 50 day moving average price is $24.07 and its 200-day moving average price is $26.30. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.38 and a current ratio of 1.40. Coterra Energy Inc. has a 52-week low of $22.30 and a 52-week high of $29.89. The company has a market capitalization of $17.67 billion, a P/E ratio of 13.72, a price-to-earnings-growth ratio of 1.37 and a beta of 0.22.

Coterra Energy (NYSE:CTRA) last released 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 firm had revenue of $1.27 billion during the quarter, compared to analyst estimates of $1.32 billion. During the same quarter in the previous year, the firm earned $0.38 EPS. Coterra Energy’s quarterly revenue was up 7.3% on a year-over-year basis. Equities analysts forecast that Coterra Energy Inc. will post 1.74 earnings per share for the current year.

Coterra Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 29th. Investors of record on Thursday, August 15th were paid 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 yield of 3.54%. Coterra Energy’s dividend payout ratio is currently 48.55%.

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.