Callan Family Office LLC Purchases 26,172 Shares of Coterra Energy Inc. $CTRA

Key Points

• Callan Family Office LLC increased its holdings in Coterra Energy Inc. by 128.0%, acquiring an additional 26,172 shares, bringing its total to 46,611 shares valued at approximately $1.18 million.
• Coterra Energy's stock has experienced a decline of 3.6%, with a current trading price around $22.78.
• Institutional investors own 87.92% of Coterra Energy's stock, showing significant investor interest in the company.

Callan Family Office LLC grew its position in shares of Coterra Energy Inc. (NYSE:CTRA - Free Report) by 128.0% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 46,611 shares of the company's stock after acquiring an additional 26,172 shares during the quarter. Callan Family Office LLC's holdings in Coterra Energy were worth $1,183,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. increased its holdings 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 valued at $2,668,559,000 after acquiring an additional 3,818,700 shares in the last quarter. Wellington Management Group LLP boosted 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 valued at $2,416,939,000 after buying an additional 11,102,350 shares during the last quarter. Charles Schwab Investment Management Inc. boosted 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 valued at $731,313,000 after buying an additional 1,837,614 shares during the last quarter. Victory Capital Management Inc. boosted 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 valued at $544,149,000 after buying an additional 1,019,995 shares during the last quarter. Finally, Invesco Ltd. boosted 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 valued at $357,919,000 after buying an additional 152,244 shares during the last quarter. Institutional investors own 87.92% of the company's stock.

Analyst Upgrades and Downgrades

CTRA has been the topic of several analyst reports. Scotiabank cut their target price on Coterra Energy from $35.00 to $32.00 and set a "sector outperform" rating on the stock in a research report on Thursday. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Coterra Energy in a research report on Wednesday, October 8th. The Goldman Sachs Group reaffirmed a "neutral" rating and set a $31.00 target price on shares of Coterra Energy in a research report on Tuesday, July 1st. Mizuho cut their target price on Coterra Energy from $36.00 to $33.00 and set an "outperform" rating on the stock in a research report on Monday, September 15th. Finally, Wells Fargo & Company lifted their target price on Coterra Energy from $32.00 to $33.00 and gave the company an "overweight" rating in a research report on Thursday, August 14th. Fourteen investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $33.06.

Coterra Energy Stock Down 3.6%

CTRA stock opened at $22.78 on Monday. The stock's fifty day simple moving average is $23.90 and its two-hundred day simple moving average is $24.75. The company has a current ratio of 1.13, a quick ratio of 1.08 and a debt-to-equity ratio of 0.29. Coterra Energy Inc. has a 1-year low of $22.46 and a 1-year high of $29.95. The stock has a market cap of $17.38 billion, a P/E ratio of 10.90, a P/E/G ratio of 0.32 and a beta of 0.29.

Coterra Energy (NYSE:CTRA - Get Free Report) last posted its quarterly earnings data on Monday, August 4th. The company reported $0.48 earnings per share for the quarter, missing the consensus estimate of $0.50 by ($0.02). Coterra Energy had a return on equity of 10.99% and a net margin of 23.80%.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 prior year, the firm posted $0.37 EPS. The firm's revenue for the quarter was up 54.6% on a year-over-year basis. Analysts expect that Coterra Energy Inc. will post 1.54 EPS for the current year.

Coterra Energy Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, August 28th. Shareholders of record on Thursday, August 14th were paid a $0.22 dividend. The ex-dividend date was Thursday, August 14th. This represents a $0.88 annualized dividend and a dividend yield of 3.9%. Coterra Energy's payout ratio is presently 42.11%.

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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