Brasada Capital Management LP Makes New Investment in Coterra Energy Inc. $CTRA

Key Points

• Brasada Capital Management LP invested approximately $545,000 in Coterra Energy Inc. by purchasing 18,865 shares during the first quarter.
• Coterra Energy reported quarterly earnings of $0.48 EPS, missing estimates by $0.02, but achieved a revenue of $1.97 billion, exceeding expectations of $1.78 billion.
• The company declared a quarterly dividend of $0.22, with a 3.6% yield and a dividend payout ratio of 42.11%.

Brasada Capital Management LP purchased a new position in shares of Coterra Energy Inc. (NYSE:CTRA - Free Report) during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 18,865 shares of the company's stock, valued at approximately $545,000.

A number of other large investors have also made changes to their positions in the business. Vanguard Group Inc. increased its position in shares of Coterra Energy by 4.3% during the first quarter. Vanguard Group Inc. now owns 92,337,673 shares of the company's stock worth $2,668,559,000 after purchasing an additional 3,818,700 shares in the last quarter. Wellington Management Group LLP increased its position in shares of Coterra Energy by 15.3% during the first quarter. Wellington Management Group LLP now owns 83,631,117 shares of the company's stock worth $2,416,939,000 after purchasing an additional 11,102,350 shares in the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of Coterra Energy by 7.8% during the first quarter. Charles Schwab Investment Management Inc. now owns 25,304,940 shares of the company's stock worth $731,313,000 after purchasing an additional 1,837,614 shares in the last quarter. Victory Capital Management Inc. increased its position in shares of Coterra Energy by 5.7% during the first quarter. Victory Capital Management Inc. now owns 18,828,688 shares of the company's stock worth $544,149,000 after purchasing an additional 1,019,995 shares in the last quarter. Finally, Invesco Ltd. increased its position in shares of Coterra Energy by 1.2% during the first quarter. Invesco Ltd. now owns 12,384,728 shares of the company's stock worth $357,919,000 after purchasing an additional 152,244 shares in the last quarter. 87.92% of the stock is owned by institutional investors and hedge funds.

Coterra Energy Price Performance

NYSE:CTRA opened at $24.44 on Friday. Coterra Energy Inc. has a one year low of $22.30 and a one year high of $29.95. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.08 and a current ratio of 1.13. The firm has a market cap of $18.65 billion, a price-to-earnings ratio of 11.69, a PEG ratio of 0.33 and a beta of 0.33. The firm's fifty day moving average is $24.43 and its two-hundred day moving average is $25.57.

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

Coterra Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 28th. Shareholders of record on Thursday, August 14th were issued a $0.22 dividend. This represents a $0.88 annualized dividend and a yield of 3.6%. The ex-dividend date of this dividend was Thursday, August 14th. Coterra Energy's dividend payout ratio is presently 42.11%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on CTRA. Pickering Energy Partners downgraded Coterra Energy from an "outperform" rating to a "neutral" rating in a research report on Tuesday, May 20th. UBS Group cut their target price on 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 reissued an "outperform" rating on shares of Coterra Energy in a research report on Friday, July 11th. Barclays upped their target price on Coterra Energy from $35.00 to $37.00 and gave the company an "overweight" rating in a research report on Monday, July 7th. Finally, Raymond James Financial set a $38.00 target price on Coterra Energy and gave the company an "outperform" rating in a research report on Friday, June 13th. Fourteen equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $33.61.

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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