FORA Capital LLC Increases Stock Holdings in Coterra Energy Inc. $CTRA

Key Points

• FORA Capital LLC increased its stake in Coterra Energy by 215.2% during the first quarter, owning a total of 61,750 shares valued at approximately $1.785 million.
• Coterra Energy recently announced a dividend of $0.22 per share, which translates to an annualized yield of 3.7% and will be distributed on August 28th to shareholders of record.
• The company reported a net margin of 23.80% in its latest earnings release, missing earnings expectations slightly but generating revenues significantly above estimates.

FORA Capital LLC grew its stake in Coterra Energy Inc. (NYSE:CTRA - Free Report) by 215.2% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 61,750 shares of the company's stock after buying an additional 42,160 shares during the period. FORA Capital LLC's holdings in Coterra Energy were worth $1,785,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in the stock. Cornerstone Planning Group LLC boosted its holdings in Coterra Energy by 175.6% in the first quarter. Cornerstone Planning Group LLC now owns 871 shares of the company's stock valued at $25,000 after acquiring an additional 555 shares during the last quarter. Raleigh Capital Management Inc. boosted its stake in shares of Coterra Energy by 463.5% in the 1st quarter. Raleigh Capital Management Inc. now owns 896 shares of the company's stock valued at $26,000 after purchasing an additional 737 shares during the last quarter. Banque Cantonale Vaudoise acquired a new stake in shares of Coterra Energy during the first quarter worth $29,000. Wayfinding Financial LLC bought a new position in Coterra Energy during the first quarter worth $34,000. Finally, Investors Research Corp lifted its holdings in Coterra Energy by 45.2% in the first quarter. Investors Research Corp now owns 1,311 shares of the company's stock valued at $38,000 after buying an additional 408 shares during the period. 87.92% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

CTRA has been the subject of a number of recent analyst reports. Scotiabank reiterated an "outperform" rating on shares of Coterra Energy in a report on Friday, July 11th. Piper Sandler upped their target price on Coterra Energy from $37.00 to $39.00 and gave the company an "overweight" rating in a research report on Thursday, August 14th. The Goldman Sachs Group reiterated a "neutral" rating and issued a $31.00 target price on shares of Coterra Energy in a report on Tuesday, July 1st. UBS Group cut their price target on Coterra Energy from $32.00 to $30.00 and set a "buy" rating on the stock in a report on Friday, May 9th. Finally, Barclays lifted their price objective on shares of Coterra Energy from $35.00 to $37.00 and gave the company an "overweight" rating in a research note on Monday, July 7th. Fourteen research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $33.61.

Coterra Energy Stock Up 0.3%

Shares of NYSE CTRA traded up $0.06 during midday trading on Monday, hitting $24.44. 3,605,307 shares of the stock traded hands, compared to its average volume of 6,204,016. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.08 and a current ratio of 1.13. Coterra Energy Inc. has a one year low of $22.30 and a one year high of $29.95. The business has a 50 day moving average price of $24.43 and a two-hundred day moving average price of $25.54. The company has a market cap of $18.65 billion, a PE ratio of 11.69, a P/E/G ratio of 0.33 and a beta of 0.34.

Coterra Energy (NYSE:CTRA - Get Free Report) last posted its quarterly earnings results on Monday, August 4th. The company reported $0.48 earnings per share (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 analyst estimates of $1.78 billion. During the same period in the previous year, the business posted $0.37 EPS. The business's revenue for the quarter was up 54.6% compared to the same quarter last year. On average, equities analysts predict that Coterra Energy Inc. will post 1.54 EPS for the current year.

Coterra Energy Announces Dividend

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