Coterra Energy Inc. $CTRA Shares Purchased by Ashton Thomas Private Wealth LLC

Key Points

• Ashton Thomas Private Wealth LLC increased its holdings in Coterra Energy by 11.1%, acquiring 16,554 additional shares, bringing their total to 165,613 shares, valued at approximately $4.79 million.
• Coterra Energy reported earnings of $0.48 per share for the latest quarter, which was below analysts' expectations, although revenue reached $1.97 billion, surpassing estimates.
• The company recently declared a quarterly dividend of $0.22 per share, resulting in an annual yield of 3.7% with a payout ratio of 42.11%.

Ashton Thomas Private Wealth LLC raised its stake in shares of Coterra Energy Inc. (NYSE:CTRA - Free Report) by 11.1% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 165,613 shares of the company's stock after acquiring an additional 16,554 shares during the period. Ashton Thomas Private Wealth LLC's holdings in Coterra Energy were worth $4,786,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Goldman Sachs Group Inc. raised its stake in Coterra Energy by 12.8% during the 1st quarter. Goldman Sachs Group Inc. now owns 4,740,430 shares of the company's stock valued at $136,998,000 after acquiring an additional 536,167 shares during the last quarter. Coordinated Financial Services Inc. CO purchased a new stake in Coterra Energy during the 1st quarter valued at approximately $217,000. Scientech Research LLC purchased a new stake in Coterra Energy during the 1st quarter valued at approximately $660,000. Pingora Partners LLC raised its stake in Coterra Energy by 0.8% during the 1st quarter. Pingora Partners LLC now owns 139,041 shares of the company's stock valued at $4,018,000 after acquiring an additional 1,124 shares during the last quarter. Finally, NFJ Investment Group LLC purchased a new stake in Coterra Energy during the 1st quarter valued at approximately $14,614,000. 87.92% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms have commented on CTRA. Scotiabank reaffirmed an "outperform" rating on shares of Coterra Energy in a research note on Friday, July 11th. Barclays upped their price objective on Coterra Energy from $35.00 to $37.00 and gave the company an "overweight" rating in a research note on Monday, July 7th. Piper Sandler increased their target price on Coterra Energy from $37.00 to $39.00 and gave the stock an "overweight" rating in a research note on Thursday, August 14th. Pickering Energy Partners downgraded Coterra Energy from an "outperform" rating to a "neutral" rating in a research note on Tuesday, May 20th. Finally, Wells Fargo & Company increased their target price on Coterra Energy from $32.00 to $33.00 and gave the stock an "overweight" rating in a research note on Thursday, August 14th. Fourteen analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $33.39.

Coterra Energy Stock Performance

Shares of CTRA stock traded down $0.01 during trading hours on Friday, reaching $24.36. 4,146,724 shares of the company's stock were exchanged, compared to its average volume of 4,998,333. The company 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. The company's 50 day moving average is $24.14 and its two-hundred day moving average is $25.30. 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.

Coterra Energy (NYSE:CTRA - Get Free Report) last released 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 net margin of 23.80% and a return on equity of 10.99%. The firm 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 business earned $0.37 earnings per share. The business's revenue for the quarter was up 54.6% on a year-over-year basis. Equities research analysts anticipate that Coterra Energy Inc. will post 1.54 EPS for the current fiscal year.

Coterra Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 28th. Investors of record on Thursday, August 14th were paid 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%.

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.