Coterra Energy Inc. $CTRA Position Reduced by Norden Group LLC

Norden Group LLC reduced its position in shares of Coterra Energy Inc. (NYSE:CTRA) by 6.1% in the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 8,776 shares of the company’s stock after selling 569 shares during the quarter. Norden Group LLC’s holdings in Coterra Energy were worth $223,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Cornerstone Planning Group LLC lifted its holdings in shares of 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 buying an additional 555 shares during the period. Raleigh Capital Management Inc. raised its position in Coterra Energy by 463.5% in the first quarter. Raleigh Capital Management Inc. now owns 896 shares of the company’s stock worth $26,000 after acquiring an additional 737 shares in the last quarter. Banque Cantonale Vaudoise acquired a new stake in Coterra Energy in the 1st quarter valued at about $29,000. Wayfinding Financial LLC bought a new position in shares of Coterra Energy during the 1st quarter valued at about $34,000. Finally, Investors Research Corp grew its stake in shares of Coterra Energy by 45.2% in the 1st quarter. Investors Research Corp now owns 1,311 shares of the company’s stock worth $38,000 after purchasing an additional 408 shares during the last quarter. 87.92% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

CTRA has been the subject of several recent research reports. Barclays increased their target price on shares of Coterra Energy from $35.00 to $37.00 and gave the company an “overweight” rating in a research note on Monday, July 7th. Wells Fargo & Company increased their price objective on Coterra Energy from $32.00 to $33.00 and gave the company an “overweight” rating in a research report on Thursday, August 14th. Scotiabank restated an “outperform” rating on shares of Coterra Energy in a report on Friday, July 11th. Raymond James Financial reaffirmed an “outperform” rating and set a $34.00 target price (down from $38.00) on shares of Coterra Energy in a research report on Thursday, September 11th. Finally, Mizuho decreased their price target on Coterra Energy from $36.00 to $33.00 and set an “outperform” rating for the company in a research report on Monday, September 15th. Fourteen equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $33.22.

Coterra Energy Stock Performance

Shares of Coterra Energy stock opened at $23.83 on Friday. Coterra Energy Inc. has a 12 month low of $22.46 and a 12 month high of $29.95. The company has a quick ratio of 1.08, a current ratio of 1.13 and a debt-to-equity ratio of 0.29. The stock has a market cap of $18.18 billion, a PE ratio of 11.40, a price-to-earnings-growth ratio of 0.34 and a beta of 0.34. The business has a fifty day simple moving average of $23.93 and a 200-day simple moving average of $25.12.

Coterra Energy (NYSE:CTRA) last announced its quarterly earnings data on Monday, August 4th. The company reported $0.48 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.50 by ($0.02). Coterra Energy had a return on equity of 10.99% and a net margin of 23.80%.The business had revenue of $1.97 billion during the quarter, compared to analysts’ expectations of $1.78 billion. During the same period in the prior year, the company posted $0.37 earnings per share. The firm’s revenue was up 54.6% on a year-over-year basis. On average, sell-side analysts anticipate that Coterra Energy Inc. will post 1.54 EPS for the current fiscal year.

Coterra Energy Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, August 28th. Investors of record on Thursday, August 14th were paid a $0.22 dividend. This represents a $0.88 annualized dividend and a dividend yield of 3.7%. The ex-dividend date was Thursday, August 14th. Coterra Energy’s dividend payout ratio (DPR) is presently 42.11%.

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.