Sunbelt Securities Inc. Boosts Stock Position in Coterra Energy Inc. (NYSE:CTRA)

Sunbelt Securities Inc. boosted its holdings in shares of Coterra Energy Inc. (NYSE:CTRA) by 1.1% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 50,222 shares of the company’s stock after purchasing an additional 542 shares during the period. Sunbelt Securities Inc.’s holdings in Coterra Energy were worth $1,339,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of CTRA. Fortitude Family Office LLC increased its position in shares of Coterra Energy by 154.9% during the second quarter. Fortitude Family Office LLC now owns 933 shares of the company’s stock valued at $25,000 after buying an additional 567 shares during the period. Larson Financial Group LLC grew its holdings in shares of Coterra Energy by 98.0% during the 2nd quarter. Larson Financial Group LLC now owns 1,081 shares of the company’s stock worth $29,000 after acquiring an additional 535 shares during the period. Central Pacific Bank Trust Division bought a new position in shares of Coterra Energy in the 1st quarter worth approximately $44,000. Harbor Investment Advisory LLC lifted its stake in shares of Coterra Energy by 869.3% in the 1st quarter. Harbor Investment Advisory LLC now owns 1,609 shares of the company’s stock valued at $45,000 after purchasing an additional 1,443 shares during the period. Finally, Northwest Investment Counselors LLC bought a new stake in shares of Coterra Energy during the first quarter valued at approximately $47,000. Institutional investors own 87.92% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have issued reports on CTRA shares. Susquehanna decreased their price objective on Coterra Energy from $33.00 to $30.00 and set a “positive” rating for the company in a report on Wednesday, September 4th. BMO Capital Markets upgraded shares of Coterra Energy to a “hold” rating in a research note on Wednesday, July 3rd. Morgan Stanley dropped their price objective on shares of Coterra Energy from $29.00 to $27.00 and set an “equal weight” rating on the stock in a research note on Monday, September 16th. Roth Capital upgraded shares of Coterra Energy from a “hold” rating to a “strong-buy” rating in a report on Tuesday, August 27th. Finally, Truist Financial lowered their target price on shares of Coterra Energy from $34.00 to $31.00 and set a “buy” rating for the company in a report on Monday. Two investment analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $32.41.

Coterra Energy Stock Performance

Shares of CTRA stock opened at $23.95 on Tuesday. 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 company has a 50 day moving average price of $24.07 and a 200-day moving average price of $26.29. Coterra Energy Inc. has a 52 week low of $22.30 and a 52 week high of $29.89. The firm has a market capitalization of $17.82 billion, a PE ratio of 13.84, a P/E/G ratio of 1.37 and a beta of 0.22.

Coterra Energy (NYSE:CTRA) last posted 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 company had revenue of $1.27 billion during the quarter, compared to the consensus estimate of $1.32 billion. Coterra Energy had a return on equity of 10.48% and a net margin of 23.18%. The company’s revenue for the quarter was up 7.3% on a year-over-year basis. During the same period last year, the firm posted $0.38 EPS. As a group, equities research analysts expect that Coterra Energy Inc. will post 1.74 earnings per share for the current year.

Coterra Energy Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, August 29th. Shareholders of record on Thursday, August 15th were given a $0.21 dividend. The ex-dividend date of this dividend was Thursday, August 15th. This represents a $0.84 annualized dividend and a yield of 3.51%. Coterra Energy’s payout ratio is 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.