Confluence Investment Management LLC Has $514,000 Stock Holdings in Coterra Energy Inc. (NYSE:CTRA)

Confluence Investment Management LLC increased its holdings in shares of Coterra Energy Inc. (NYSE:CTRA) by 8.4% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 21,482 shares of the company’s stock after purchasing an additional 1,662 shares during the period. Confluence Investment Management LLC’s holdings in Coterra Energy were worth $514,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the business. Donald L. Hagan LLC grew its position in shares of Coterra Energy by 5.5% during the 3rd quarter. Donald L. Hagan LLC now owns 36,773 shares of the company’s stock worth $881,000 after buying an additional 1,911 shares during the period. Avidian Wealth Enterprises LLC boosted its stake in Coterra Energy by 6.7% during the third quarter. Avidian Wealth Enterprises LLC now owns 8,358 shares of the company’s stock worth $200,000 after acquiring an additional 523 shares in the last quarter. Greenwood Capital Associates LLC grew its holdings in Coterra Energy by 1.5% in the third quarter. Greenwood Capital Associates LLC now owns 67,337 shares of the company’s stock worth $1,613,000 after purchasing an additional 1,013 shares during the period. QRG Capital Management Inc. increased its stake in Coterra Energy by 5.9% in the third quarter. QRG Capital Management Inc. now owns 61,649 shares of the company’s stock valued at $1,476,000 after purchasing an additional 3,410 shares in the last quarter. Finally, National Pension Service boosted its position in shares of Coterra Energy by 14.0% during the 3rd quarter. National Pension Service now owns 1,335,880 shares of the company’s stock worth $31,994,000 after purchasing an additional 164,048 shares in the last quarter. 87.92% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the company. 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 research report 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 report on Thursday, September 12th. Truist Financial reduced their price target on shares of Coterra Energy from $34.00 to $31.00 and set a “buy” rating for the company in a research report on Monday, September 30th. Barclays lowered their price objective on shares of Coterra Energy from $33.00 to $31.00 and set an “overweight” rating on the stock in a report on Thursday, October 3rd. Finally, Mizuho lifted their price objective on shares of Coterra Energy from $36.00 to $37.00 and gave the company an “outperform” rating in a report on Friday, November 1st. Two research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Coterra Energy presently has an average rating of “Moderate Buy” and a consensus target price of $31.29.

Coterra Energy Price Performance

Shares of NYSE CTRA opened at $24.58 on Friday. The company has a market capitalization of $18.11 billion, a PE ratio of 14.81, a PEG ratio of 1.54 and a beta of 0.22. The company has a quick ratio of 1.38, a current ratio of 1.61 and a debt-to-equity ratio of 0.16. The stock’s 50 day moving average price is $23.77 and its 200-day moving average price is $25.56. Coterra Energy Inc. has a twelve month low of $22.30 and a twelve month high of $28.90.

Coterra Energy (NYSE:CTRA) last announced its quarterly earnings data on Thursday, October 31st. The company reported $0.32 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.03). Coterra Energy had a net margin of 21.91% and a return on equity of 9.38%. The business had revenue of $1.36 billion during the quarter, compared to the consensus estimate of $1.28 billion. During the same quarter last year, the company earned $0.47 EPS. The firm’s revenue for the quarter was up .2% compared to the same quarter last year. On average, equities analysts anticipate that Coterra Energy Inc. will post 1.59 EPS for the current year.

Coterra Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 27th. Shareholders of record on Thursday, November 14th will be given a $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 3.42%. The ex-dividend date is Thursday, November 14th. Coterra Energy’s dividend 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.