DDD Partners LLC Purchases 54,497 Shares of Coterra Energy Inc. (NYSE:CTRA)

DDD Partners LLC increased its stake in Coterra Energy Inc. (NYSE:CTRA - Free Report) by 12.8% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 478,938 shares of the company's stock after acquiring an additional 54,497 shares during the period. Coterra Energy comprises about 1.7% of DDD Partners LLC's holdings, making the stock its 28th largest holding. DDD Partners LLC owned approximately 0.06% of Coterra Energy worth $13,841,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Proficio Capital Partners LLC bought a new position in Coterra Energy during the 4th quarter valued at approximately $3,624,000. Commonwealth Equity Services LLC raised its position in Coterra Energy by 16.5% during the 4th quarter. Commonwealth Equity Services LLC now owns 706,386 shares of the company's stock valued at $18,041,000 after purchasing an additional 100,035 shares during the last quarter. Frank Rimerman Advisors LLC bought a new position in Coterra Energy during the 4th quarter valued at approximately $236,000. Natixis Advisors LLC raised its position in Coterra Energy by 11.6% during the 4th quarter. Natixis Advisors LLC now owns 398,833 shares of the company's stock valued at $10,186,000 after purchasing an additional 41,383 shares during the last quarter. Finally, Envestnet Portfolio Solutions Inc. raised its position in Coterra Energy by 39.6% during the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 148,867 shares of the company's stock valued at $3,802,000 after purchasing an additional 42,236 shares during the last quarter. Institutional investors own 87.92% of the company's stock.

Coterra Energy Stock Performance

Shares of NYSE CTRA traded down $0.07 during midday trading on Friday, hitting $24.38. 7,663,488 shares of the stock traded hands, compared to its average volume of 6,564,631. The firm has a 50-day moving average of $25.30 and a two-hundred day moving average of $26.43. The firm has a market capitalization of $18.61 billion, a P/E ratio of 14.17, a PEG ratio of 0.34 and a beta of 0.35. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.86 and a current ratio of 0.90. Coterra Energy Inc. has a one year low of $22.30 and a one year high of $29.95.

Coterra Energy (NYSE:CTRA - Get Free Report) last announced its earnings results on Monday, May 5th. The company reported $0.80 EPS for the quarter, topping analysts' consensus estimates of $0.71 by $0.09. Coterra Energy had a return on equity of 10.61% and a net margin of 21.67%. The company had revenue of $924.00 million for the quarter, compared to analysts' expectations of $1.92 billion. During the same period last year, the firm earned $0.51 EPS. Coterra Energy's revenue for the quarter was up 32.9% compared to the same quarter last year. On average, equities analysts forecast that Coterra Energy Inc. will post 1.54 EPS for the current fiscal year.

Coterra Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 29th. Shareholders of record on Thursday, May 15th were issued a dividend of $0.22 per share. The ex-dividend date was Thursday, May 15th. This represents a $0.88 dividend on an annualized basis and a yield of 3.61%. Coterra Energy's dividend payout ratio is presently 51.16%.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the company. Raymond James Financial set a $38.00 target price on Coterra Energy and gave the stock an "outperform" rating in a report on Friday, June 13th. Scotiabank restated an "outperform" rating on shares of Coterra Energy in a research note on Friday, July 11th. Piper Sandler restated an "overweight" rating and issued a $37.00 price target (up previously from $36.00) on shares of Coterra Energy in a research note on Thursday. 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 research note on Friday, May 9th. Finally, Morgan Stanley set a $28.00 price target on Coterra Energy in a research note on Tuesday, April 15th. Four equities research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $33.16.

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.