Bourgeon Capital Management LLC Purchases 61,132 Shares of Coterra Energy Inc. $CTRA

Key Points

• Bourgeon Capital Management LLC increased its stake in Coterra Energy by 26.2%, acquiring an additional 61,132 shares, bringing its total holdings to 294,770 shares worth $7,481,000.
• Coterra Energy's stock has a current price target consensus of $33.22 and received various ratings from analysts, including a mix of "Buy" and "Hold" ratings from 14 equity research firms.
• The company's quarterly earnings report revealed a net margin of 23.80% and a year-over-year revenue increase of 54.6%, although earnings per share fell short of analysts' estimates.

Bourgeon Capital Management LLC lifted its position in Coterra Energy Inc. (NYSE:CTRA - Free Report) by 26.2% in the 2nd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 294,770 shares of the company's stock after acquiring an additional 61,132 shares during the period. Bourgeon Capital Management LLC's holdings in Coterra Energy were worth $7,481,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the company. HB Wealth Management LLC raised its position in shares of Coterra Energy by 35.5% in the 2nd quarter. HB Wealth Management LLC now owns 14,846 shares of the company's stock worth $377,000 after acquiring an additional 3,887 shares in the last quarter. Janney Montgomery Scott LLC raised its position in shares of Coterra Energy by 2.7% in the 2nd quarter. Janney Montgomery Scott LLC now owns 258,443 shares of the company's stock worth $6,559,000 after acquiring an additional 6,717 shares in the last quarter. Washington Capital Management Inc. raised its position in shares of Coterra Energy by 27.7% in the 2nd quarter. Washington Capital Management Inc. now owns 24,000 shares of the company's stock worth $609,000 after acquiring an additional 5,200 shares in the last quarter. V Square Quantitative Management LLC raised its position in shares of Coterra Energy by 8.6% in the 2nd quarter. V Square Quantitative Management LLC now owns 11,573 shares of the company's stock worth $294,000 after acquiring an additional 913 shares in the last quarter. Finally, First American Bank increased its position in Coterra Energy by 7.2% during the 2nd quarter. First American Bank now owns 72,704 shares of the company's stock valued at $1,845,000 after buying an additional 4,874 shares in the last quarter. Institutional investors own 87.92% of the company's stock.

Wall Street Analysts Forecast Growth

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

Coterra Energy Stock Performance

CTRA stock opened at $23.59 on Tuesday. The company has a market cap of $18.00 billion, a P/E ratio of 11.29, a price-to-earnings-growth ratio of 0.34 and a beta of 0.34. Coterra Energy Inc. has a 1 year low of $22.46 and a 1 year high of $29.95. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.13 and a quick ratio of 1.08. The stock's fifty day moving average price is $23.94 and its 200-day moving average price is $25.08.

Coterra Energy (NYSE:CTRA - Get Free Report) last released its quarterly earnings results on Monday, August 4th. The company reported $0.48 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.50 by ($0.02). The firm had revenue of $1.97 billion during the quarter, compared to analysts' expectations of $1.78 billion. Coterra Energy had a return on equity of 10.99% and a net margin of 23.80%.The business's quarterly revenue was up 54.6% on a year-over-year basis. During the same quarter last year, the business earned $0.37 earnings per share. On average, equities analysts forecast that Coterra Energy Inc. will post 1.54 earnings per share for the current year.

Coterra Energy Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, August 28th. Stockholders of record on Thursday, August 14th were paid a $0.22 dividend. This represents a $0.88 dividend on an annualized basis 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%.

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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