Alta Wealth Advisors LLC Makes New $961,000 Investment in Coterra Energy Inc. (NYSE:CTRA)

Alta Wealth Advisors LLC purchased 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 disclosure with the SEC. The firm purchased 33,236 shares of the company's stock, valued at approximately $961,000.

A number of other institutional investors have also recently made changes to their positions in the stock. Private Trust Co. NA grew its holdings in shares of Coterra Energy by 20.0% in the fourth quarter. Private Trust Co. NA now owns 2,140 shares of the company's stock worth $55,000 after acquiring an additional 356 shares during the period. Donald L. Hagan LLC boosted its position in Coterra Energy by 1.1% in the first quarter. Donald L. Hagan LLC now owns 35,754 shares of the company's stock worth $1,033,000 after purchasing an additional 401 shares during the last quarter. Investors Research Corp grew its stake in shares of Coterra Energy by 45.2% during the 1st 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. New York Life Investment Management LLC grew its stake in shares of Coterra Energy by 0.4% during the 4th quarter. New York Life Investment Management LLC now owns 99,584 shares of the company's stock valued at $2,543,000 after purchasing an additional 421 shares during the period. Finally, Procyon Advisors LLC increased its position in shares of Coterra Energy by 3.6% during the 1st quarter. Procyon Advisors LLC now owns 13,460 shares of the company's stock valued at $389,000 after purchasing an additional 469 shares during the last quarter. Hedge funds and other institutional investors own 87.92% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on CTRA. Susquehanna dropped their price objective on shares of Coterra Energy from $34.00 to $32.00 and set a "positive" rating on the stock in a report on Tuesday, April 22nd. UBS Group decreased 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. Scotiabank dropped their price target on shares of Coterra Energy from $38.00 to $33.00 and set a "sector outperform" rating on the stock in a research note on Friday, April 11th. Raymond James Financial set a $38.00 price objective on shares of Coterra Energy and gave the company an "outperform" rating in a research report on Friday, June 13th. Finally, Pickering Energy Partners lowered Coterra Energy from an "outperform" rating to a "neutral" rating in a research note on Tuesday, May 20th. Four analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, Coterra Energy currently has a consensus rating of "Moderate Buy" and a consensus price target of $33.30.

Coterra Energy Stock Down 0.4%

Shares of CTRA opened at $25.98 on Friday. The business's 50 day moving average is $25.21 and its 200 day moving average is $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. Coterra Energy Inc. has a 12-month low of $22.30 and a 12-month high of $29.95. The company has a market capitalization of $19.83 billion, a PE ratio of 15.10, a price-to-earnings-growth ratio of 0.35 and a beta of 0.34.

Coterra Energy (NYSE:CTRA - Get Free Report) last announced its quarterly earnings data 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 net margin of 21.67% and a return on equity of 10.61%. The business had revenue of $924.00 million during the quarter, compared to analyst estimates of $1.92 billion. During the same period last year, the firm posted $0.51 EPS. The company's revenue was up 32.9% on a year-over-year basis. Research analysts expect that Coterra Energy Inc. will post 1.54 earnings per share for the current fiscal 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 issued a $0.22 dividend. The ex-dividend date of this dividend was Thursday, May 15th. This represents a $0.88 dividend on an annualized basis and a yield of 3.39%. Coterra Energy's dividend payout ratio is currently 51.16%.

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.

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