Coterra Energy Inc. $CTRA Stock Position Lifted by Kestra Advisory Services LLC

Key Points

• Kestra Advisory Services LLC increased its holdings in Coterra Energy Inc. by 8.8% during the first quarter, owning a total of 374,351 shares worth approximately $10.8 million.
• Several analysts have raised their price targets for Coterra Energy, with Wells Fargo boosting their target from $32.00 to $33.00 and Barclays from $35.00 to $37.00.
• Coterra Energy recently reported a quarterly revenue of $1.97 billion, exceeding projections, along with a quarterly dividend of $0.22 per share, yielding 3.7% annually.

Kestra Advisory Services LLC lifted its holdings in Coterra Energy Inc. (NYSE:CTRA - Free Report) by 8.8% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 374,351 shares of the company's stock after purchasing an additional 30,374 shares during the quarter. Kestra Advisory Services LLC's holdings in Coterra Energy were worth $10,819,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of CTRA. Allspring Global Investments Holdings LLC grew its holdings in Coterra Energy by 7.6% during the first quarter. Allspring Global Investments Holdings LLC now owns 123,054 shares of the company's stock worth $3,577,000 after acquiring an additional 8,726 shares during the period. Vontobel Holding Ltd. bought a new stake in Coterra Energy in the first quarter worth about $233,000. Janney Montgomery Scott LLC raised its position in Coterra Energy by 9.4% in the first quarter. Janney Montgomery Scott LLC now owns 251,726 shares of the company's stock worth $7,275,000 after acquiring an additional 21,733 shares in the last quarter. Spire Wealth Management raised its position in Coterra Energy by 428.6% in the first quarter. Spire Wealth Management now owns 2,294 shares of the company's stock worth $66,000 after acquiring an additional 1,860 shares in the last quarter. Finally, State of Alaska Department of Revenue raised its position in Coterra Energy by 2.8% in the first quarter. State of Alaska Department of Revenue now owns 86,307 shares of the company's stock worth $2,494,000 after acquiring an additional 2,325 shares in the last quarter. Institutional investors and hedge funds own 87.92% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have commented on CTRA. Wells Fargo & Company boosted their price target on shares of Coterra Energy from $32.00 to $33.00 and gave the stock an "overweight" rating in a research report on Thursday, August 14th. Mizuho dropped their price target on shares of Coterra Energy from $38.00 to $36.00 and set an "outperform" rating on the stock in a research report on Tuesday, May 13th. Barclays boosted their price target on shares of Coterra Energy from $35.00 to $37.00 and gave the stock an "overweight" rating in a research report on Monday, July 7th. Bank of America dropped their price target on shares of Coterra Energy from $34.00 to $33.00 and set a "buy" rating on the stock in a research report on Tuesday, April 29th. Finally, UBS Group dropped their price target on shares of Coterra Energy from $32.00 to $30.00 and set a "buy" rating on the stock in a research report on Friday, May 9th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $33.37.

Coterra Energy Trading Up 1.4%

Shares of NYSE CTRA opened at $23.7750 on Friday. Coterra Energy Inc. has a 12 month low of $22.30 and a 12 month high of $29.95. The company has a market cap of $18.14 billion, a price-to-earnings ratio of 11.38, a P/E/G ratio of 0.32 and a beta of 0.33. The company has a quick ratio of 1.08, a current ratio of 1.13 and a debt-to-equity ratio of 0.29. The business has a fifty day simple moving average of $24.69 and a 200-day simple moving average of $25.68.

Coterra Energy (NYSE:CTRA - Get Free Report) last announced its 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 company had revenue of $1.97 billion for the quarter, compared to analysts' expectations of $1.78 billion. During the same period in the prior year, the company earned $0.37 earnings per share. The company's revenue for the quarter was up 54.6% on a year-over-year basis. Sell-side analysts predict that Coterra Energy Inc. will post 1.54 EPS for the current year.

Coterra Energy Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, August 28th. Stockholders of record on Thursday, August 14th will be issued a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a dividend yield of 3.7%. The ex-dividend date of this dividend is Thursday, August 14th. Coterra Energy's dividend payout ratio is currently 42.11%.

Coterra Energy 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.

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