1834 Investment Advisors Co. Buys 13,486 Shares of Coterra Energy Inc. $CTRA

Key Points

• 1834 Investment Advisors Co. increased its stake in Coterra Energy Inc. by 4.0%, acquiring an additional 13,486 shares, now holding 347,949 shares worth approximately $8.83 million.
• Coterra Energy reported earnings of $0.48 per share for the last quarter, missing estimates slightly, although revenue surged 54.6% year-over-year, reaching $1.97 billion.
• The company recently announced a quarterly dividend of $0.22 per share, yielding about 3.7%, with a dividend payout ratio of 42.11%.

1834 Investment Advisors Co. lifted its stake in Coterra Energy Inc. (NYSE:CTRA - Free Report) by 4.0% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 347,949 shares of the company's stock after acquiring an additional 13,486 shares during the period. Coterra Energy accounts for about 1.1% of 1834 Investment Advisors Co.'s investment portfolio, making the stock its 24th largest position. 1834 Investment Advisors Co.'s holdings in Coterra Energy were worth $8,831,000 as of its most recent filing with the SEC.

Other institutional investors have also made changes to their positions in the company. Allspring Global Investments Holdings LLC raised its stake in shares of Coterra Energy by 7.6% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 123,054 shares of the company's stock valued at $3,577,000 after acquiring an additional 8,726 shares in the last quarter. Vontobel Holding Ltd. bought a new position in shares of Coterra Energy in the 1st quarter valued at approximately $233,000. Janney Montgomery Scott LLC grew its holdings in Coterra Energy by 9.4% in the 1st quarter. Janney Montgomery Scott LLC now owns 251,726 shares of the company's stock valued at $7,275,000 after buying an additional 21,733 shares during the last quarter. Wealth Advisory Solutions LLC acquired a new stake in Coterra Energy in the 2nd quarter valued at approximately $342,000. Finally, Spire Wealth Management grew its holdings in Coterra Energy by 428.6% in the 1st quarter. Spire Wealth Management now owns 2,294 shares of the company's stock valued at $66,000 after buying an additional 1,860 shares during the last quarter. 87.92% of the stock is owned by institutional investors.

Coterra Energy Price Performance

Shares of NYSE:CTRA opened at $23.83 on Friday. Coterra Energy Inc. has a 1-year low of $22.46 and a 1-year high of $29.95. The firm has a market capitalization of $18.18 billion, a PE ratio of 11.40, a PEG ratio of 0.33 and a beta of 0.34. The business's 50 day moving average is $23.93 and its 200-day moving average is $25.14. The company has a current ratio of 1.13, a quick ratio of 1.08 and a debt-to-equity ratio of 0.29.

Coterra Energy (NYSE:CTRA - Get Free Report) last announced its quarterly earnings data on Monday, August 4th. The company reported $0.48 earnings per share 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 firm had revenue of $1.97 billion for the quarter, compared to analyst estimates of $1.78 billion. During the same period in the previous year, the business posted $0.37 EPS. Coterra Energy's revenue for the quarter was up 54.6% compared to the same quarter last year. Sell-side analysts predict that Coterra Energy Inc. will post 1.54 earnings per share for the current 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 given a dividend of $0.22 per share. 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 42.11%.

Analyst Ratings Changes

A number of analysts have issued reports on CTRA shares. Mizuho lowered their target price on Coterra Energy from $36.00 to $33.00 and set an "outperform" rating on the stock in a report on Monday, September 15th. Scotiabank reaffirmed an "outperform" rating on shares of Coterra Energy in a report on Friday, July 11th. The Goldman Sachs Group reaffirmed a "neutral" rating and issued a $31.00 target price on shares of Coterra Energy in a report on Tuesday, July 1st. Raymond James Financial reaffirmed an "outperform" rating and issued a $34.00 target price (down previously from $38.00) on shares of Coterra Energy in a report on Thursday, September 11th. Finally, Wells Fargo & Company raised their target price on Coterra Energy from $32.00 to $33.00 and gave the company an "overweight" rating in a report on Thursday, August 14th. Fourteen analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat.com, Coterra Energy has a consensus rating of "Moderate Buy" and a consensus price target of $33.22.

Coterra Energy Company 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.

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