Foundry Partners LLC Increases Stock Position in Coterra Energy Inc. (NYSE:CTRA)

Foundry Partners LLC increased its position in shares of Coterra Energy Inc. (NYSE:CTRA - Free Report) by 40.8% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 613,773 shares of the company's stock after acquiring an additional 177,763 shares during the period. Foundry Partners LLC owned approximately 0.08% of Coterra Energy worth $17,738,000 as of its most recent filing with the Securities and Exchange Commission.

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

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the stock. Raymond James Financial set a $38.00 price target on shares of Coterra Energy and gave the company an "outperform" rating in a research report on Friday, June 13th. Wells Fargo & Company lowered their price target on shares of Coterra Energy from $33.00 to $31.00 and set an "overweight" rating for the company in a research report on Monday, June 16th. Morgan Stanley set a $28.00 price target on shares of Coterra Energy in a research report on Tuesday, April 15th. UBS Group decreased their target price on shares of Coterra Energy from $32.00 to $30.00 and set a "buy" rating for the company in a report on Friday, May 9th. Finally, Scotiabank reaffirmed an "outperform" rating on shares of Coterra Energy in a report on Friday, July 11th. Four equities research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, Coterra Energy presently has an average rating of "Moderate Buy" and a consensus price target of $33.16.

Coterra Energy Price Performance

Shares of CTRA traded down $0.07 during mid-day trading on Friday, reaching $24.38. The stock had a trading volume of 7,663,488 shares, compared to its average volume of 6,571,755. The firm has a market cap of $18.61 billion, a price-to-earnings ratio of 14.17, a PEG ratio of 0.34 and a beta of 0.35. Coterra Energy Inc. has a 12 month low of $22.30 and a 12 month high of $29.95. The business has a fifty day moving average of $25.30 and a 200 day moving average of $26.43. 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 (NYSE:CTRA - Get Free Report) last issued its earnings results on Monday, May 5th. The company reported $0.80 earnings per share for the quarter, topping analysts' consensus estimates of $0.71 by $0.09. Coterra Energy had a net margin of 21.67% and a return on equity of 10.61%. The firm had revenue of $924.00 million during the quarter, compared to analyst estimates of $1.92 billion. During the same quarter in the prior year, the business earned $0.51 earnings per share. Coterra Energy's revenue for the quarter was up 32.9% on a year-over-year basis. Equities analysts predict that Coterra Energy Inc. will post 1.54 EPS for the current year.

Coterra Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, May 29th. Shareholders of record on Thursday, May 15th were given a dividend of $0.22 per share. The ex-dividend date of this dividend was Thursday, May 15th. This represents a $0.88 annualized dividend and a yield of 3.61%. Coterra Energy's dividend payout ratio (DPR) is currently 51.16%.

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.