Freedom Investment Management Inc. Makes New Investment in Coterra Energy Inc. $CTRA

Key Points

• Freedom Investment Management Inc. has acquired 11,671 shares of Coterra Energy Inc. (CTRA), valued at approximately $337,000, during the first quarter.
• Coterra Energy reported a quarterly EPS of $0.48, missing analysts' expectations, but achieved revenue of $1.97 billion, exceeding estimates.
• The company announced a quarterly dividend of $0.22 per share, which represents an annualized yield of 3.6% with a payout ratio of 42.11%.

Freedom Investment Management Inc. bought a new stake in Coterra Energy Inc. (NYSE:CTRA - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 11,671 shares of the company's stock, valued at approximately $337,000.

Other large investors have also made changes to their positions in the company. Cornerstone Planning Group LLC boosted its stake in shares of Coterra Energy by 175.6% during the first quarter. Cornerstone Planning Group LLC now owns 871 shares of the company's stock valued at $25,000 after acquiring an additional 555 shares during the last quarter. Raleigh Capital Management Inc. boosted its stake in shares of Coterra Energy by 463.5% during the first quarter. Raleigh Capital Management Inc. now owns 896 shares of the company's stock valued at $26,000 after acquiring an additional 737 shares during the last quarter. Banque Cantonale Vaudoise acquired a new stake in shares of Coterra Energy during the first quarter valued at $29,000. Wayfinding Financial LLC acquired a new stake in shares of Coterra Energy during the first quarter valued at $34,000. Finally, Investors Research Corp boosted its stake in shares of Coterra Energy by 45.2% during the first quarter. Investors Research Corp now owns 1,311 shares of the company's stock valued at $38,000 after acquiring an additional 408 shares during the last quarter. Institutional investors and hedge funds own 87.92% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on CTRA. Scotiabank reiterated an "outperform" rating on shares of Coterra Energy in a report on Friday, July 11th. Pickering Energy Partners lowered Coterra Energy from an "outperform" rating to a "neutral" rating in a research note on Tuesday, May 20th. Barclays raised their price target on Coterra Energy from $35.00 to $37.00 and gave the stock an "overweight" rating in a research note on Monday, July 7th. Raymond James Financial set a $38.00 price objective on Coterra Energy and gave the company an "outperform" rating in a research note on Friday, June 13th. 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 research note on Thursday, August 14th. Fourteen research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $33.61.

Coterra Energy Trading Up 0.3%

Shares of NYSE CTRA traded up $0.06 during midday trading on Monday, hitting $24.44. The stock had a trading volume of 3,605,307 shares, compared to its average volume of 6,204,016. The company has a market capitalization of $18.65 billion, a price-to-earnings ratio of 11.69, a PEG ratio of 0.33 and a beta of 0.34. 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 Inc. has a 1-year low of $22.30 and a 1-year high of $29.95. The company has a fifty day moving average price of $24.43 and a 200 day moving average price of $25.54.

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

Coterra Energy Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, August 28th. Investors of record on Thursday, August 14th were issued a dividend of $0.22 per share. 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 (DPR) 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.