Empowered Funds LLC Boosts Holdings in Coterra Energy Inc. $CTRA

Key Points

• Empowered Funds LLC increased its stake in Coterra Energy Inc. by 6.5% during the 1st quarter, owning approximately 593,950 shares valued at $17.2 million.
• Analysts have mixed ratings for the stock, with 14 analysts giving it a Buy rating and an average price target of $33.61, despite a recent downgrade from Pickering Energy Partners to a "neutral" rating.
• Coterra Energy reported a net margin of 23.8% and revenue of $1.97 billion for the quarter, significantly exceeding analyst estimates and showing a year-over-year revenue growth of 54.6%.

Empowered Funds LLC raised its holdings in Coterra Energy Inc. (NYSE:CTRA - Free Report) by 6.5% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 593,950 shares of the company's stock after purchasing an additional 36,028 shares during the quarter. Empowered Funds LLC owned about 0.08% of Coterra Energy worth $17,165,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in CTRA. Donald L. Hagan LLC increased its position in Coterra Energy by 1.1% in the 1st quarter. Donald L. Hagan LLC now owns 35,754 shares of the company's stock valued at $1,033,000 after acquiring an additional 401 shares during the period. Investors Research Corp grew its stake in shares of Coterra Energy by 45.2% in the 1st quarter. Investors Research Corp now owns 1,311 shares of the company's stock valued at $38,000 after purchasing an additional 408 shares during the last quarter. Saxon Interests Inc. increased its holdings in shares of Coterra Energy by 5.1% in the first quarter. Saxon Interests Inc. now owns 9,319 shares of the company's stock valued at $269,000 after purchasing an additional 451 shares during the period. Tectonic Advisors LLC increased its holdings in shares of Coterra Energy by 3.2% in the first quarter. Tectonic Advisors LLC now owns 14,834 shares of the company's stock valued at $429,000 after purchasing an additional 459 shares during the period. Finally, Procyon Advisors LLC raised its stake in shares of Coterra Energy by 3.6% during the first quarter. Procyon Advisors LLC now owns 13,460 shares of the company's stock worth $389,000 after purchasing an additional 469 shares during the last quarter. Institutional investors and hedge funds own 87.92% of the company's stock.

Coterra Energy Price Performance

Shares of CTRA traded down $0.01 during trading hours on Friday, reaching $24.36. The company had a trading volume of 4,146,724 shares, compared to its average volume of 4,998,333. The company has a current ratio of 1.13, a quick ratio of 1.08 and a debt-to-equity ratio of 0.29. Coterra Energy Inc. has a 12-month low of $22.46 and a 12-month high of $29.95. The firm has a 50 day simple moving average of $24.14 and a 200-day simple moving average of $25.30. The company has a market capitalization of $18.59 billion, a price-to-earnings ratio of 11.66, a PEG ratio of 0.34 and a beta of 0.34.

Coterra Energy (NYSE:CTRA - Get Free Report) last released its quarterly earnings data on Monday, August 4th. The company reported $0.48 EPS for the quarter, missing analysts' consensus estimates of $0.50 by ($0.02). Coterra Energy had a return on equity of 10.99% and a net margin of 23.80%.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 firm posted $0.37 EPS. The firm's quarterly revenue was up 54.6% on a year-over-year basis. Research analysts expect that Coterra Energy Inc. will post 1.54 earnings per share for the current 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%.

Wall Street Analysts Forecast Growth

CTRA has been the topic of a number of analyst reports. The Goldman Sachs Group reiterated a "neutral" rating and issued a $31.00 price objective on shares of Coterra Energy in a research report on Tuesday, July 1st. Barclays raised their target price on shares of Coterra Energy from $35.00 to $37.00 and gave the stock an "overweight" rating in a research note on Monday, July 7th. Piper Sandler boosted their price target on shares of Coterra Energy from $37.00 to $39.00 and gave the stock an "overweight" rating in a research note on Thursday, August 14th. Scotiabank restated an "outperform" rating on shares of Coterra Energy in a research report on Friday, July 11th. Finally, Wells Fargo & Company lifted their price objective on Coterra Energy from $32.00 to $33.00 and gave the company an "overweight" rating in a report on Thursday, August 14th. Fourteen analysts have rated the stock with a Buy rating and four have given a Hold rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $33.39.

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.