Formidable Asset Management LLC Has $520,000 Holdings in Coterra Energy Inc. $CTRA

Formidable Asset Management LLC lessened its stake in Coterra Energy Inc. (NYSE:CTRA) by 7.0% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 20,469 shares of the company’s stock after selling 1,530 shares during the quarter. Formidable Asset Management LLC’s holdings in Coterra Energy were worth $520,000 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. Cornerstone Planning Group LLC raised its stake in Coterra Energy by 175.6% in the first quarter. Cornerstone Planning Group LLC now owns 871 shares of the company’s stock valued at $25,000 after purchasing an additional 555 shares in the last quarter. Raleigh Capital Management Inc. raised its stake in Coterra Energy by 463.5% in the first quarter. Raleigh Capital Management Inc. now owns 896 shares of the company’s stock valued at $26,000 after purchasing an additional 737 shares in the last quarter. Banque Cantonale Vaudoise acquired a new position in Coterra Energy in the first quarter valued at about $29,000. Wayfinding Financial LLC acquired a new position in Coterra Energy in the first quarter valued at about $34,000. Finally, Investors Research Corp raised its stake in Coterra Energy by 45.2% in the first quarter. Investors Research Corp now owns 1,311 shares of the company’s stock valued at $38,000 after purchasing an additional 408 shares in the last quarter. Institutional investors and hedge funds own 87.92% of the company’s stock.

Coterra Energy Price Performance

Coterra Energy stock opened at $23.83 on Friday. The stock’s 50 day moving average is $23.93 and its 200 day moving average is $25.14. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.13 and a quick ratio of 1.08. The firm has a market cap of $18.18 billion, a P/E ratio of 11.40, a P/E/G ratio of 0.33 and a beta of 0.34. Coterra Energy Inc. has a one year low of $22.46 and a one year high of $29.95.

Coterra Energy (NYSE:CTRA) last posted its quarterly earnings data on Monday, August 4th. The company reported $0.48 EPS for the quarter, missing analysts’ consensus estimates of $0.50 by ($0.02). The company had revenue of $1.97 billion during the quarter, compared to analyst estimates of $1.78 billion. Coterra Energy had a return on equity of 10.99% and a net margin of 23.80%.Coterra Energy’s revenue was up 54.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.37 earnings per share. As a group, research analysts expect that Coterra Energy Inc. will post 1.54 EPS for the current year.

Coterra Energy Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 28th. Shareholders of record on Thursday, August 14th were paid a $0.22 dividend. The ex-dividend date of this dividend was Thursday, August 14th. This represents a $0.88 annualized dividend and a yield of 3.7%. Coterra Energy’s payout ratio is 42.11%.

Wall Street Analyst Weigh In

CTRA has been the topic of a number of recent analyst reports. Raymond James Financial reiterated an “outperform” rating and issued a $34.00 target price (down previously from $38.00) on shares of Coterra Energy in a research report on Thursday, September 11th. Mizuho decreased their target price on Coterra Energy from $36.00 to $33.00 and set an “outperform” rating on the stock in a research report on Monday, September 15th. Wells Fargo & Company lifted their target price on Coterra Energy from $32.00 to $33.00 and gave the company an “overweight” rating in a research report on Thursday, August 14th. The Goldman Sachs Group reiterated a “neutral” rating and issued a $31.00 target price on shares of Coterra Energy in a research report on Tuesday, July 1st. Finally, Piper Sandler lifted their target price on Coterra Energy from $37.00 to $39.00 and gave the company an “overweight” rating in a research report on Thursday, August 14th. Fourteen analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat.com, Coterra Energy has an average rating of “Moderate Buy” and an average target price of $33.22.

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.