Adams Natural Resources Fund Inc. Boosts Position in Coterra Energy Inc. (NYSE:CTRA)

Adams Natural Resources Fund Inc. grew its holdings in shares of Coterra Energy Inc. (NYSE:CTRA - Free Report) by 187.0% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 361,300 shares of the company's stock after purchasing an additional 235,400 shares during the period. Coterra Energy makes up about 1.3% of Adams Natural Resources Fund Inc.'s holdings, making the stock its 16th biggest position. Adams Natural Resources Fund Inc.'s holdings in Coterra Energy were worth $10,442,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of CTRA. Investors Research Corp lifted its stake in shares of Coterra Energy by 45.2% in the first quarter. Investors Research Corp now owns 1,311 shares of the company's stock valued at $38,000 after purchasing an additional 408 shares during the period. Plato Investment Management Ltd purchased a new position in Coterra Energy in the fourth quarter valued at about $43,000. VSM Wealth Advisory LLC purchased a new position in Coterra Energy in the fourth quarter valued at about $46,000. Nemes Rush Group LLC acquired a new stake in shares of Coterra Energy during the 4th quarter valued at approximately $48,000. Finally, Optiver Holding B.V. purchased a new stake in shares of Coterra Energy during the 4th quarter worth approximately $50,000. 87.92% of the stock is owned by hedge funds and other institutional investors.

Coterra Energy Trading Down 0.4%

Shares of Coterra Energy stock traded down $0.09 during trading hours on Thursday, reaching $25.98. 6,287,000 shares of the company's stock were exchanged, compared to its average volume of 6,476,704. Coterra Energy Inc. has a 52-week low of $22.30 and a 52-week high of $29.95. The company has a fifty day moving average of $25.21 and a 200-day moving average of $26.39. 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 firm has a market capitalization of $19.83 billion, a price-to-earnings ratio of 15.10, a price-to-earnings-growth ratio of 0.36 and a beta of 0.34.

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

Coterra Energy Announces Dividend

The business also recently announced 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 dividend yield of 3.39%. Coterra Energy's dividend payout ratio is presently 51.16%.

Analysts Set New Price Targets

CTRA has been the subject of several research analyst reports. Mizuho dropped their price objective on Coterra Energy from $38.00 to $36.00 and set an "outperform" rating for the company in a research note on Tuesday, May 13th. Susquehanna lowered their target price on Coterra Energy from $34.00 to $32.00 and set a "positive" rating on the stock in a report on Tuesday, April 22nd. JPMorgan Chase & Co. cut their price target on Coterra Energy from $36.00 to $33.00 and set an "overweight" rating for the company in a research note on Thursday, March 13th. Morgan Stanley set a $28.00 price objective on shares of Coterra Energy in a research report on Tuesday, April 15th. Finally, Williams Trading set a $37.00 price objective on shares of Coterra Energy in a research note on Wednesday, March 5th. Four equities research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $33.30.

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.