DRW Securities LLC Grows Position in Coterra Energy Inc. $CTRA

Key Points

• DRW Securities LLC increased its holdings in Coterra Energy by 25.0% during the first quarter, now owning 130,125 shares valued at approximately $3.76 million.
• Several large investors, including Wellington Management and Vanguard Group, also raised their positions in Coterra Energy, indicating strong institutional interest.
• Coterra Energy's recent earnings report showed a missed EPS estimate of $0.48 compared to the expected $0.50, although revenue increased by 54.6% year-over-year.

DRW Securities LLC lifted its holdings in shares of Coterra Energy Inc. (NYSE:CTRA - Free Report) by 25.0% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 130,125 shares of the company's stock after acquiring an additional 26,063 shares during the quarter. DRW Securities LLC's holdings in Coterra Energy were worth $3,761,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in CTRA. Integrated Wealth Concepts LLC raised its holdings in shares of Coterra Energy by 36.1% during the fourth quarter. Integrated Wealth Concepts LLC now owns 20,338 shares of the company's stock valued at $519,000 after acquiring an additional 5,396 shares in the last quarter. The Manufacturers Life Insurance Company raised its holdings in shares of Coterra Energy by 1.5% during the fourth quarter. The Manufacturers Life Insurance Company now owns 708,873 shares of the company's stock valued at $18,105,000 after acquiring an additional 10,187 shares in the last quarter. Comerica Bank raised its holdings in shares of Coterra Energy by 3.1% during the fourth quarter. Comerica Bank now owns 130,540 shares of the company's stock valued at $3,334,000 after acquiring an additional 3,888 shares in the last quarter. Freestone Grove Partners LP bought a new position in shares of Coterra Energy during the fourth quarter valued at approximately $4,681,000. Finally, Keel Point LLC bought a new position in shares of Coterra Energy during the fourth quarter valued at approximately $210,000. Institutional investors own 87.92% of the company's stock.

Analyst Ratings Changes

Several brokerages recently weighed in on CTRA. Mizuho reduced their price target on Coterra Energy from $38.00 to $36.00 and set an "outperform" rating on the stock in a research note on Tuesday, May 13th. The Goldman Sachs Group reaffirmed a "neutral" rating and issued a $31.00 price target on shares of Coterra Energy in a research note on Tuesday, July 1st. Piper Sandler upped their price target on Coterra Energy from $37.00 to $39.00 and gave the stock an "overweight" rating in a research note on Thursday, August 14th. Raymond James Financial set a $38.00 price target on Coterra Energy and gave the stock an "outperform" rating in a research note on Friday, June 13th. Finally, Wells Fargo & Company upped their price target 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 investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $33.61.

Coterra Energy Stock Up 1.3%

Shares of CTRA stock traded up $0.32 during mid-day trading on Thursday, hitting $24.39. The company's stock had a trading volume of 3,762,342 shares, compared to its average volume of 6,962,533. Coterra Energy Inc. has a 52-week low of $22.30 and a 52-week high of $29.95. The business has a 50-day moving average price of $24.30 and a 200 day moving average price of $25.50. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.08 and a current ratio of 1.13. The stock has a market cap of $18.61 billion, a price-to-earnings ratio of 11.67, a PEG ratio of 0.33 and a beta of 0.34.

Coterra Energy (NYSE:CTRA - Get Free Report) last issued its quarterly earnings data 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 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 the consensus estimate of $1.78 billion. During the same period in the previous year, the firm earned $0.37 EPS. The business's revenue was up 54.6% on a year-over-year basis. Research analysts predict 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 issued a $0.22 dividend. The ex-dividend date of this dividend was Thursday, August 14th. This represents a $0.88 annualized dividend and a dividend yield of 3.6%. Coterra Energy's payout ratio is presently 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.