Global Wealth Management Investment Advisory Inc. bought a new stake in shares of Coterra Energy Inc. (NYSE:CTRA - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 160,489 shares of the company's stock, valued at approximately $4,638,000.
Other institutional investors have also added to or reduced their stakes in the company. Investors Research Corp raised its position 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 acquiring an additional 408 shares in the last quarter. Alpine Bank Wealth Management purchased a new position in Coterra Energy in the first quarter valued at about $47,000. Plato Investment Management Ltd bought a new position in Coterra Energy in the fourth quarter worth about $43,000. VSM Wealth Advisory LLC bought a new position in Coterra Energy in the fourth quarter worth about $46,000. Finally, Nemes Rush Group LLC purchased a new stake in shares of Coterra Energy during the fourth quarter valued at about $48,000. Hedge funds and other institutional investors own 87.92% of the company's stock.
Wall Street Analysts Forecast Growth
Several research analysts recently commented on the stock. Piper Sandler reduced their price objective on shares of Coterra Energy from $37.00 to $36.00 and set an "overweight" rating for the company in a research note on Tuesday, May 13th. The Goldman Sachs Group reaffirmed a "neutral" rating and issued a $31.00 price target on shares of Coterra Energy in a report on Tuesday. Bank of America reduced their price target on Coterra Energy from $34.00 to $33.00 and set a "buy" rating on the stock in a research report on Tuesday, April 29th. Susquehanna decreased their price objective on Coterra Energy from $34.00 to $32.00 and set a "positive" rating for the company in a report on Tuesday, April 22nd. Finally, Mizuho lowered their price objective on Coterra Energy from $38.00 to $36.00 and set an "outperform" rating for the company in a research report on Tuesday, May 13th. Four research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Coterra Energy currently has an average rating of "Moderate Buy" and an average target price of $33.00.
Check Out Our Latest Research Report on Coterra Energy
Coterra Energy Price Performance
Shares of NYSE:CTRA opened at $25.19 on Friday. Coterra Energy Inc. has a twelve month low of $22.30 and a twelve month high of $29.95. The company has a current ratio of 0.90, a quick ratio of 0.86 and a debt-to-equity ratio of 0.30. The company has a market cap of $19.22 billion, a PE ratio of 14.64, a price-to-earnings-growth ratio of 0.34 and a beta of 0.35. The company's 50 day moving average is $25.20 and its 200 day moving average is $26.40.
Coterra Energy (NYSE:CTRA - Get Free Report) last released its quarterly earnings data on Monday, May 5th. The company reported $0.80 EPS for the quarter, beating the consensus estimate of $0.71 by $0.09. Coterra Energy had a net margin of 21.67% and a return on equity of 10.61%. The business had revenue of $924.00 million for the quarter, compared to the consensus estimate of $1.92 billion. During the same period in the prior year, the firm earned $0.51 EPS. The business's revenue for the quarter was up 32.9% on a year-over-year basis. On average, sell-side analysts forecast that Coterra Energy Inc. will post 1.54 EPS for the current year.
Coterra Energy Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Thursday, May 29th. Shareholders of record on Thursday, May 15th were given a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a yield of 3.49%. The ex-dividend date of this dividend was Thursday, May 15th. Coterra Energy's dividend payout ratio is currently 51.16%.
About Coterra Energy
(
Free Report)
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.
Featured Articles
Want to see what other hedge funds are holding CTRA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Coterra Energy Inc. (NYSE:CTRA - Free Report).
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.
Before you consider Coterra Energy, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Coterra Energy wasn't on the list.
While Coterra Energy currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Wondering where to start (or end) with AI stocks? These 10 simple stocks can help investors build long-term wealth as artificial intelligence continues to grow into the future.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
