Benedict Financial Advisors Inc. Buys New Stake in Coterra Energy Inc. (NYSE:CTRA)

Key Points

• Benedict Financial Advisors Inc. has acquired a new position in Coterra Energy Inc. worth approximately $694,000 by purchasing 24,028 shares.
• After recent earnings results, Coterra reported earnings per share of $0.80, surpassing expectations, with a net margin of 21.67% and quarterly revenue of $924 million.
• Coterra Energy has announced a quarterly dividend of $0.22, indicating a robust 3.70% yield, with a payout ratio of 51.16% to its shareholders.

Benedict Financial Advisors Inc. bought a new position in shares of Coterra Energy Inc. (NYSE:CTRA - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 24,028 shares of the company's stock, valued at approximately $694,000.

A number of other institutional investors and hedge funds have also modified their holdings of CTRA. McCollum Christoferson Group LLC grew its stake in Coterra Energy by 0.8% during the 1st quarter. McCollum Christoferson Group LLC now owns 282,525 shares of the company's stock valued at $8,165,000 after acquiring an additional 2,340 shares in the last quarter. Pacer Advisors Inc. grew its stake in Coterra Energy by 5,145.4% during the 1st quarter. Pacer Advisors Inc. now owns 3,100,064 shares of the company's stock valued at $89,592,000 after acquiring an additional 3,040,963 shares in the last quarter. Cetera Investment Advisers boosted its holdings in Coterra Energy by 7.1% in the 1st quarter. Cetera Investment Advisers now owns 178,462 shares of the company's stock valued at $5,158,000 after purchasing an additional 11,800 shares during the last quarter. Avantax Advisory Services Inc. boosted its holdings in Coterra Energy by 7.1% in the 1st quarter. Avantax Advisory Services Inc. now owns 102,007 shares of the company's stock valued at $2,948,000 after purchasing an additional 6,782 shares during the last quarter. Finally, Cadence Wealth Management LLC boosted its holdings in Coterra Energy by 7.3% in the 1st quarter. Cadence Wealth Management LLC now owns 12,751 shares of the company's stock valued at $369,000 after purchasing an additional 871 shares during the last quarter. Hedge funds and other institutional investors own 87.92% of the company's stock.

Coterra Energy Stock Up 0.9%

Shares of NYSE:CTRA traded up $0.23 during trading hours on Tuesday, reaching $24.04. The stock had a trading volume of 3,022,763 shares, compared to its average volume of 7,064,294. Coterra Energy Inc. has a 1 year low of $22.30 and a 1 year high of $29.95. The firm's 50 day moving average is $25.17 and its 200-day moving average is $26.30. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.86 and a current ratio of 0.90. The stock has a market capitalization of $18.35 billion, a price-to-earnings ratio of 13.97, a P/E/G ratio of 0.32 and a beta of 0.35.

Coterra Energy (NYSE:CTRA - Get Free Report) last announced its quarterly earnings data on Monday, May 5th. The company reported $0.80 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 company 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 posted $0.51 EPS. The company's quarterly revenue was up 32.9% compared to the same quarter last year. Research analysts predict that Coterra Energy Inc. will post 1.54 earnings per share for the current fiscal year.

Coterra Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 29th. Shareholders of record on Thursday, May 15th were given a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a dividend yield of 3.66%. The ex-dividend date of this dividend was Thursday, May 15th. Coterra Energy's dividend payout ratio is presently 51.16%.

Analyst Ratings Changes

CTRA has been the topic of several recent analyst reports. Morgan Stanley set a $28.00 target price on shares of Coterra Energy in a report on Tuesday, April 15th. Susquehanna decreased their target price 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. Piper Sandler reiterated an "overweight" rating and issued a $37.00 target price (up from $36.00) on shares of Coterra Energy in a report on Thursday, July 17th. Wells Fargo & Company decreased their target price on shares of Coterra Energy from $33.00 to $31.00 and set an "overweight" rating on the stock in a report on Monday, June 16th. Finally, Pickering Energy Partners lowered shares of Coterra Energy from an "outperform" rating to a "neutral" rating in a report on Tuesday, May 20th. Four equities research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $33.16.

Coterra Energy 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.