Everhart Financial Group Inc. Buys Shares of 9,081 Coterra Energy Inc. (NYSE:CTRA)

Everhart Financial Group Inc. purchased a new position in Coterra Energy Inc. (NYSE:CTRA) during the second quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 9,081 shares of the company’s stock, valued at approximately $242,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Fifth Third Bancorp increased its stake in Coterra Energy by 0.6% during the 2nd quarter. Fifth Third Bancorp now owns 71,138 shares of the company’s stock valued at $1,897,000 after purchasing an additional 399 shares in the last quarter. TCW Group Inc. raised its holdings in Coterra Energy by 4.0% in the 2nd quarter. TCW Group Inc. now owns 10,447 shares of the company’s stock worth $279,000 after acquiring an additional 404 shares during the last quarter. Redwood Wealth Management Group LLC lifted its position in Coterra Energy by 2.3% in the 1st quarter. Redwood Wealth Management Group LLC now owns 18,974 shares of the company’s stock valued at $529,000 after acquiring an additional 429 shares in the last quarter. Quent Capital LLC lifted its position in Coterra Energy by 8.1% in the 1st quarter. Quent Capital LLC now owns 5,923 shares of the company’s stock valued at $165,000 after acquiring an additional 445 shares in the last quarter. Finally, Financial Advisors Network Inc. boosted its stake in Coterra Energy by 3.6% during the 4th quarter. Financial Advisors Network Inc. now owns 14,575 shares of the company’s stock valued at $372,000 after purchasing an additional 501 shares during the last quarter. Hedge funds and other institutional investors own 87.92% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently issued reports on CTRA shares. Wolfe Research started coverage on Coterra Energy in a report on Thursday, July 18th. They set an “outperform” rating and a $35.00 price target on the stock. Bank of America restated a “buy” rating and set a $34.00 target price on shares of Coterra Energy in a research note on Friday, June 14th. BMO Capital Markets raised shares of Coterra Energy to a “hold” rating in a report on Wednesday, July 3rd. Piper Sandler lowered their price objective on shares of Coterra Energy from $39.00 to $31.00 and set an “overweight” rating on the stock in a research report on Thursday, August 15th. Finally, Truist Financial cut their target price on shares of Coterra Energy from $35.00 to $34.00 and set a “buy” rating for the company in a research report on Monday, July 22nd. Two equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $33.56.

Coterra Energy Stock Performance

Shares of CTRA stock traded up $0.30 during trading hours on Friday, reaching $24.16. 3,569,652 shares of the company traded hands, compared to its average volume of 6,367,413. The firm has a 50-day moving average price of $25.76 and a 200 day moving average price of $26.63. The company has a market cap of $17.98 billion, a P/E ratio of 13.97, a P/E/G ratio of 1.49 and a beta of 0.24. Coterra Energy Inc. has a 12-month low of $23.18 and a 12-month high of $29.89. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.49 and a quick ratio of 1.46.

Coterra Energy (NYSE:CTRA) last issued its earnings results on Thursday, August 1st. The company reported $0.37 earnings per share for the quarter, missing the consensus estimate of $0.39 by ($0.02). The firm 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 10.49% and a net margin of 23.18%. The company’s quarterly revenue was up 7.3% on a year-over-year basis. During the same period in the prior year, the company posted $0.38 EPS. As a group, sell-side analysts predict that Coterra Energy Inc. will post 2.02 earnings per share for the current fiscal year.

Coterra Energy Dividend Announcement

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