Canoe Financial LP Buys Shares of 837,200 Coterra Energy Inc. (NYSE:CTRA)

Canoe Financial LP bought a new stake in Coterra Energy Inc. (NYSE:CTRA - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 837,200 shares of the company's stock, valued at approximately $24,195,000. Canoe Financial LP owned 0.11% of Coterra Energy at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Riverwater Partners LLC purchased a new position in Coterra Energy in the first quarter valued at about $208,000. Avior Wealth Management LLC raised its position in shares of Coterra Energy by 42.7% in the 1st quarter. Avior Wealth Management LLC now owns 17,007 shares of the company's stock valued at $491,000 after purchasing an additional 5,092 shares in the last quarter. State of Alaska Department of Revenue boosted its stake in shares of Coterra Energy by 2.8% during the 1st quarter. State of Alaska Department of Revenue now owns 86,307 shares of the company's stock valued at $2,494,000 after buying an additional 2,325 shares during the last quarter. JBR Co Financial Management Inc acquired a new stake in shares of Coterra Energy during the first quarter worth approximately $224,000. Finally, Cornerstone Wealth Management LLC increased its stake in shares of Coterra Energy by 19.6% in the first quarter. Cornerstone Wealth Management LLC now owns 9,891 shares of the company's stock worth $286,000 after buying an additional 1,619 shares during the last quarter. 87.92% of the stock is owned by institutional investors and hedge funds.

Coterra Energy Stock Performance

NYSE:CTRA traded up $0.23 during midday trading on Friday, reaching $26.98. 21,178,796 shares of the company traded hands, compared to its average volume of 6,451,808. The firm has a market capitalization of $20.60 billion, a price-to-earnings ratio of 14.19, a price-to-earnings-growth ratio of 0.37 and a beta of 0.34. The company has a fifty day moving average price of $25.13 and a 200 day moving average price of $26.37. The company has a debt-to-equity ratio of 0.30, a current ratio of 0.90 and a quick ratio of 0.86. Coterra Energy Inc. has a twelve month low of $22.30 and a twelve month high of $29.95.

Coterra Energy (NYSE:CTRA - Get Free Report) last posted its earnings results on Monday, May 5th. The company reported $0.80 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.71 by $0.09. Coterra Energy had a return on equity of 10.61% and a net margin of 21.67%. The company had revenue of $924.00 million for the quarter, compared to analysts' expectations of $1.92 billion. During the same period last year, the business posted $0.51 earnings per share. The firm's quarterly revenue was up 32.9% compared to the same quarter last year. On average, analysts expect that Coterra Energy Inc. will post 1.54 EPS for the current fiscal year.

Coterra Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 29th. Investors of record on Thursday, May 15th were given a $0.22 dividend. The ex-dividend date of this dividend was Thursday, May 15th. This represents a $0.88 annualized dividend and a yield of 3.26%. Coterra Energy's dividend payout ratio is presently 51.16%.

Analyst Ratings Changes

Several analysts recently issued reports on CTRA shares. Bank of America cut their price target on shares of Coterra Energy from $34.00 to $33.00 and set a "buy" rating on the stock in a report on Tuesday, April 29th. Raymond James Financial set a $38.00 target price on shares of Coterra Energy and gave the company an "outperform" rating in a research note on Friday, June 13th. UBS Group reduced their price target on shares of Coterra Energy from $32.00 to $30.00 and set a "buy" rating on the stock in a research report on Friday, May 9th. Susquehanna lowered 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, Barclays reduced their target price on Coterra Energy from $37.00 to $35.00 and set an "overweight" rating on the stock in a report on Tuesday, May 6th. Four research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $33.30.

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.