Caxton Associates LLP Purchases Shares of 63,117 Coterra Energy Inc. $CTRA

Key Points

• Caxton Associates LLP invested approximately $1.82 million in Coterra Energy Inc. by acquiring 63,117 shares in the first quarter, according to a recent SEC filing.
• Analysts have mixed ratings for Coterra Energy, with a consensus target price of $33.61, indicating a generally favorable outlook despite some downgrades.
• Coterra Energy reported a 54.6% increase in revenue year-over-year, totaling $1.97 billion, although it missed earnings estimates with $0.48 EPS.

Caxton Associates LLP acquired a new stake in Coterra Energy Inc. (NYSE:CTRA - Free Report) in the 1st quarter, according to the company in its most recent filing with the SEC. The firm acquired 63,117 shares of the company's stock, valued at approximately $1,824,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Cornerstone Planning Group LLC increased its stake in Coterra Energy by 175.6% in the 1st quarter. Cornerstone Planning Group LLC now owns 871 shares of the company's stock valued at $25,000 after buying an additional 555 shares during the last quarter. Raleigh Capital Management Inc. increased its stake in shares of Coterra Energy by 463.5% during the 1st quarter. Raleigh Capital Management Inc. now owns 896 shares of the company's stock worth $26,000 after purchasing an additional 737 shares during the last quarter. Banque Cantonale Vaudoise purchased a new stake in shares of Coterra Energy during the 1st quarter worth approximately $29,000. Wayfinding Financial LLC purchased a new stake in shares of Coterra Energy during the 1st quarter worth approximately $34,000. Finally, Investors Research Corp increased 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 worth $38,000 after purchasing an additional 408 shares during the last quarter. Hedge funds and other institutional investors own 87.92% of the company's stock.

Coterra Energy Stock Performance

CTRA traded down $0.01 on Friday, hitting $24.36. The company's stock had a trading volume of 4,146,724 shares, compared to its average volume of 4,998,333. The company's 50 day simple moving average is $24.14 and its 200-day simple moving average is $25.30. The firm has a market cap of $18.59 billion, a P/E ratio of 11.66, a price-to-earnings-growth ratio of 0.34 and a beta of 0.34. Coterra Energy Inc. has a 12 month low of $22.46 and a 12 month high of $29.95. The company has a quick ratio of 1.08, a current ratio of 1.13 and a debt-to-equity ratio of 0.29.

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

Coterra Energy Announces Dividend

The company 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 (DPR) is presently 42.11%.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on CTRA. Barclays raised their price target on shares of Coterra Energy from $35.00 to $37.00 and gave the stock an "overweight" rating in a research note on Monday, July 7th. Raymond James Financial restated an "outperform" rating and set a $34.00 price target (down previously from $38.00) on shares of Coterra Energy in a research note on Thursday. Scotiabank restated an "outperform" rating on shares of Coterra Energy in a research note on Friday, July 11th. Piper Sandler raised their price target on shares of Coterra Energy from $37.00 to $39.00 and gave the stock an "overweight" rating in a research note on Thursday, August 14th. Finally, Pickering Energy Partners lowered shares of Coterra Energy from an "outperform" rating to a "neutral" rating in a research note on Tuesday, May 20th. Fourteen equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $33.39.

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.