Denali Advisors LLC Takes $397,000 Position in Coterra Energy Inc. $CTRA

Key Points

• Denali Advisors LLC acquired a new stake in Coterra Energy Inc., purchasing 15,644 shares valued at $397,000 in the second quarter.
• Coterra Energy reported quarterly earnings of $0.48 per share, falling short of the expected $0.50, with a revenue of $1.97 billion, exceeding analysts' forecasts.
• The company declared a quarterly dividend of $0.22 per share, representing an annualized dividend yield of 3.8%.

Denali Advisors LLC purchased a new stake in shares of Coterra Energy Inc. (NYSE:CTRA - Free Report) in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 15,644 shares of the company's stock, valued at approximately $397,000.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. D.A. Davidson & CO. raised its stake in shares of Coterra Energy by 2.3% during the second quarter. D.A. Davidson & CO. now owns 134,068 shares of the company's stock valued at $3,403,000 after acquiring an additional 2,999 shares in the last quarter. Blume Capital Management Inc. raised its stake in shares of Coterra Energy by 165,012.5% during the second quarter. Blume Capital Management Inc. now owns 13,209 shares of the company's stock valued at $335,000 after acquiring an additional 13,201 shares in the last quarter. Securian Asset Management Inc. raised its stake in shares of Coterra Energy by 2.5% during the second quarter. Securian Asset Management Inc. now owns 39,905 shares of the company's stock valued at $1,013,000 after acquiring an additional 972 shares in the last quarter. Bogart Wealth LLC bought a new stake in shares of Coterra Energy during the second quarter valued at approximately $26,000. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al bought a new stake in shares of Coterra Energy during the second quarter valued at approximately $515,000. Institutional investors own 87.92% of the company's stock.

Coterra Energy Stock Performance

Shares of NYSE:CTRA opened at $23.32 on Thursday. The company has a market capitalization of $17.79 billion, a price-to-earnings ratio of 11.16, a price-to-earnings-growth ratio of 0.35 and a beta of 0.29. Coterra Energy Inc. has a 52 week low of $22.33 and a 52 week 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. The firm has a 50 day moving average of $23.76 and a 200 day moving average of $24.53.

Coterra Energy (NYSE:CTRA - Get Free Report) last released 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 return on equity of 10.99% and a net margin of 23.80%.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 prior year, the firm posted $0.37 earnings per share. Coterra Energy's revenue for the quarter was up 54.6% compared to the same quarter last year. On average, sell-side analysts predict that Coterra Energy Inc. will post 1.54 earnings per share for the current fiscal 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 3.8%. The ex-dividend date of this dividend was Thursday, August 14th. Coterra Energy's payout ratio is currently 42.11%.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on CTRA shares. UBS Group decreased their price target on shares of Coterra Energy from $30.00 to $29.00 and set a "buy" rating for the company in a research note on Tuesday, October 14th. Mizuho reduced their price objective on shares of Coterra Energy from $36.00 to $33.00 and set an "outperform" rating for the company in a research note on Monday, September 15th. Zacks Research downgraded shares of Coterra Energy from a "hold" rating to a "strong sell" rating in a research note on Monday, October 13th. Wells Fargo & Company boosted their price objective on shares of Coterra Energy from $32.00 to $33.00 and gave the stock an "overweight" rating in a research note on Thursday, August 14th. Finally, Roth Capital reduced their price objective on shares of Coterra Energy from $27.00 to $26.00 and set a "buy" rating for the company in a research note on Wednesday, October 15th. Sixteen analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $32.60.

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.

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