Headlands Technologies LLC Acquires 50,044 Shares of Coterra Energy Inc. (NYSE:CTRA)

Headlands Technologies LLC raised its holdings in shares of Coterra Energy Inc. (NYSE:CTRA) by 2,590.3% during the 2nd quarter, HoldingsChannel reports. The fund owned 51,976 shares of the company’s stock after acquiring an additional 50,044 shares during the quarter. Headlands Technologies LLC’s holdings in Coterra Energy were worth $1,386,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently modified their holdings of the company. Coldstream Capital Management Inc. lifted its position in Coterra Energy by 2.0% during the second quarter. Coldstream Capital Management Inc. now owns 88,531 shares of the company’s stock valued at $2,361,000 after purchasing an additional 1,728 shares in the last quarter. Daiwa Securities Group Inc. raised its stake in shares of Coterra Energy by 9.6% in the second quarter. Daiwa Securities Group Inc. now owns 81,502 shares of the company’s stock worth $2,174,000 after buying an additional 7,170 shares during the period. Choreo LLC purchased a new position in shares of Coterra Energy during the 2nd quarter valued at about $614,000. Quest Partners LLC grew its stake in shares of Coterra Energy by 2,649.1% during the 2nd quarter. Quest Partners LLC now owns 58,968 shares of the company’s stock valued at $1,573,000 after acquiring an additional 56,823 shares during the period. Finally, Oak Thistle LLC purchased a new stake in Coterra Energy in the 2nd quarter worth approximately $635,000. Institutional investors own 87.92% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on CTRA shares. Truist Financial dropped their price target 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. BMO Capital Markets raised shares of Coterra Energy to a “hold” rating in a report on Wednesday, July 3rd. Piper Sandler decreased their price target on Coterra Energy from $39.00 to $31.00 and set an “overweight” rating on the stock in a report on Thursday, August 15th. Bank of America reaffirmed a “buy” rating and issued a $34.00 price objective on shares of Coterra Energy in a research note on Friday, June 14th. Finally, Citigroup lifted their target price on Coterra Energy from $30.00 to $31.00 and gave the company a “buy” rating in a research note on Friday, May 24th. Two investment analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $33.12.

Coterra Energy Trading Down 0.8 %

CTRA stock opened at $22.62 on Wednesday. The firm has a fifty day moving average price of $25.09 and a 200 day moving average price of $26.59. Coterra Energy Inc. has a fifty-two week low of $22.35 and a fifty-two week high of $29.89. The firm has a market cap of $16.83 billion, a PE ratio of 13.08, a price-to-earnings-growth ratio of 1.17 and a beta of 0.22. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.38 and a current ratio of 1.40.

Coterra Energy (NYSE:CTRA) last issued its quarterly earnings data on Thursday, August 1st. The company reported $0.37 EPS for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.02). The business had revenue of $1.27 billion during the quarter, compared to analysts’ expectations of $1.32 billion. Coterra Energy had a return on equity of 10.48% and a net margin of 23.18%. The business’s quarterly revenue was up 7.3% on a year-over-year basis. During the same period in the previous year, the business earned $0.38 earnings per share. Sell-side analysts anticipate that Coterra Energy Inc. will post 1.95 earnings per share for the current fiscal year.

Coterra Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 29th. Shareholders of record on Thursday, August 15th were given a dividend of $0.21 per share. The ex-dividend date of this dividend was Thursday, August 15th. This represents a $0.84 dividend on an annualized basis and a yield of 3.71%. Coterra Energy’s dividend payout ratio (DPR) 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.