Coterra Energy Inc. (NYSE:CTRA) Stock Position Lifted by LRI Investments LLC

LRI Investments LLC boosted its stake in Coterra Energy Inc. (NYSE:CTRA) by 1,719.0% in the second quarter, Holdings Channel reports. The institutional investor owned 9,095 shares of the company’s stock after acquiring an additional 8,595 shares during the quarter. LRI Investments LLC’s holdings in Coterra Energy were worth $243,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Fortitude Family Office LLC raised its holdings in 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 in the last quarter. Headlands Technologies LLC increased its holdings in shares of Coterra Energy by 397.7% during the 4th quarter. Headlands Technologies LLC now owns 1,742 shares of the company’s stock valued at $44,000 after acquiring an additional 1,392 shares during the last quarter. Central Pacific Bank Trust Division acquired a new stake in Coterra Energy in the 1st quarter worth approximately $44,000. Harbor Investment Advisory LLC increased its holdings in shares of Coterra Energy by 869.3% during the 1st quarter. Harbor Investment Advisory LLC now owns 1,609 shares of the company’s stock worth $45,000 after purchasing an additional 1,443 shares during the period. Finally, Northwest Investment Counselors LLC acquired a new position in shares of Coterra Energy during the first quarter valued at about $47,000. Institutional investors and hedge funds own 87.92% of the company’s stock.

Coterra Energy Stock Performance

NYSE CTRA opened at $24.16 on Friday. The firm has a market cap of $17.98 billion, a price-to-earnings ratio of 13.97, a PEG ratio of 1.49 and a beta of 0.24. The company has a current ratio of 1.49, a quick ratio of 1.46 and a debt-to-equity ratio of 0.16. Coterra Energy Inc. has a 1-year low of $23.18 and a 1-year high of $29.89. The company has a 50 day moving average of $25.76 and a 200-day moving average of $26.64.

Coterra Energy (NYSE:CTRA) last released its quarterly earnings results on Thursday, August 1st. The company reported $0.37 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.02). Coterra Energy had a net margin of 23.18% and a return on equity of 10.49%. The business had revenue of $1.27 billion during the quarter, compared to the consensus estimate of $1.32 billion. During the same period in the prior year, the firm earned $0.38 earnings per share. The business’s quarterly revenue was up 7.3% compared to the same quarter last year. On average, equities analysts forecast that Coterra Energy Inc. will post 2.02 earnings per share for the current fiscal year.

Coterra Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, August 29th. Shareholders of record on Thursday, August 15th will be given a dividend of $0.21 per share. The ex-dividend date of this dividend is Thursday, August 15th. This represents a $0.84 dividend on an annualized basis and a yield of 3.48%. Coterra Energy’s payout ratio is presently 48.55%.

Analysts Set New Price Targets

CTRA has been the topic of a number of recent research reports. BMO Capital Markets raised Coterra Energy to a “hold” rating in a research report on Wednesday, July 3rd. UBS Group lowered their price objective on Coterra Energy from $36.00 to $34.00 and set a “buy” rating on the stock in a research report on Thursday, August 8th. Truist Financial reduced their target price on Coterra Energy from $35.00 to $34.00 and set a “buy” rating for the company in a research report on Monday, July 22nd. Piper Sandler decreased their price target on shares of Coterra Energy from $39.00 to $31.00 and set an “overweight” rating on the stock in a research note on Thursday, August 15th. Finally, Susquehanna increased their price objective on shares of Coterra Energy from $32.00 to $33.00 and gave the company a “positive” rating in a research note on Tuesday, May 7th. Two equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. Based on data from MarketBeat.com, Coterra Energy currently has a consensus rating of “Moderate Buy” and a consensus price target of $33.56.

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.