Focus Partners Wealth Raises Stake in Coterra Energy Inc. $CTRA

Key Points

• Focus Partners Wealth has increased its stake in Coterra Energy Inc. by 16.2%, owning approximately 712,564 shares valued at $20.59 million as of the end of the 1st quarter.
• Coterra Energy's stock recently opened at $24.36 and has a market cap of $18.59 billion, along with a price-to-earnings ratio of 11.66.
• The company reported a net margin of 23.80% and a quarterly revenue of $1.97 billion, which exceeded analyst estimates by nearly $190 million.

Focus Partners Wealth boosted its holdings in shares of Coterra Energy Inc. (NYSE:CTRA - Free Report) by 16.2% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 712,564 shares of the company's stock after acquiring an additional 99,558 shares during the period. Focus Partners Wealth owned 0.09% of Coterra Energy worth $20,593,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of CTRA. Janus Henderson Group PLC boosted its position in shares of Coterra Energy by 2.3% in the 4th quarter. Janus Henderson Group PLC now owns 75,678 shares of the company's stock worth $1,933,000 after purchasing an additional 1,688 shares in the last quarter. Lighthouse Investment Partners LLC purchased a new stake in Coterra Energy during the 4th quarter valued at about $766,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in Coterra Energy by 3.7% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 595,273 shares of the company's stock worth $15,203,000 after buying an additional 21,365 shares during the last quarter. OMERS ADMINISTRATION Corp raised its holdings in Coterra Energy by 20.2% in the fourth quarter. OMERS ADMINISTRATION Corp now owns 31,591 shares of the company's stock worth $807,000 after buying an additional 5,302 shares during the last quarter. Finally, Mufg Securities Americas Inc. purchased a new stake in shares of Coterra Energy during the fourth quarter valued at approximately $278,000. Hedge funds and other institutional investors own 87.92% of the company's stock.

Analyst Ratings Changes

Several research firms recently issued reports on CTRA. Piper Sandler upped their price objective on Coterra Energy from $37.00 to $39.00 and gave the company an "overweight" rating in a research report on Thursday, August 14th. The Goldman Sachs Group reaffirmed a "neutral" rating and set a $31.00 price objective on shares of Coterra Energy in a research report on Tuesday, July 1st. Pickering Energy Partners cut shares of Coterra Energy from an "outperform" rating to a "neutral" rating in a research note on Tuesday, May 20th. Barclays raised their price target on shares of Coterra Energy from $35.00 to $37.00 and gave the company an "overweight" rating in a report on Monday, July 7th. Finally, Raymond James Financial reissued an "outperform" rating and set a $34.00 price objective (down from $38.00) on shares of Coterra Energy in a report on Thursday. Fourteen analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $33.39.

Coterra Energy Stock Performance

Shares of Coterra Energy stock traded down $0.01 during trading hours on Friday, reaching $24.36. 4,146,724 shares of the stock traded hands, compared to its average volume of 4,998,333. The company has a 50 day moving average price of $24.14 and a 200 day moving average price of $25.30. The firm has a market capitalization of $18.59 billion, a price-to-earnings ratio of 12.12, a P/E/G ratio of 0.34 and a beta of 0.34. Coterra Energy Inc. has a one year low of $22.46 and a one year 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.

Coterra Energy (NYSE:CTRA - Get Free Report) last issued its quarterly earnings data on Monday, August 4th. The company reported $0.48 earnings per share for the quarter, missing the consensus estimate of $0.50 by ($0.02). The business had revenue of $1.97 billion during the quarter, compared to the consensus estimate of $1.78 billion. Coterra Energy had a return on equity of 10.99% and a net margin of 23.80%.Coterra Energy's revenue for the quarter was up 54.6% on a year-over-year basis. During the same quarter last year, the company earned $0.37 EPS. On average, equities research analysts expect that Coterra Energy Inc. will post 1.54 earnings per share for the current fiscal year.

Coterra Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 28th. Stockholders of record on Thursday, August 14th were paid a $0.22 dividend. This represents a $0.88 annualized dividend and a dividend yield of 3.6%. The ex-dividend date was Thursday, August 14th. Coterra Energy's dividend payout ratio is 42.11%.

About Coterra Energy

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.