Interval Partners LP Boosts Stock Position in Coterra Energy Inc. $CTRA

Key Points

• Interval Partners LP increased its stake in Coterra Energy by 90.2%, acquiring a total of 278,034 shares valued at approximately $8 million as of the latest SEC filing.
• Equity analysts have varied assessments for Coterra Energy, with a consensus rating of "Moderate Buy" and an average target price of $33.61.
• Coterra Energy recently reported a quarterly revenue of $1.97 billion, significantly exceeding analysts' expectations, despite a slight miss on earnings per share (EPS) estimates.

Interval Partners LP boosted its stake in shares of Coterra Energy Inc. (NYSE:CTRA - Free Report) by 90.2% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 278,034 shares of the company's stock after purchasing an additional 131,833 shares during the period. Interval Partners LP's holdings in Coterra Energy were worth $8,035,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Comerica Bank boosted its stake in shares of Coterra Energy by 3.1% during the 4th quarter. Comerica Bank now owns 130,540 shares of the company's stock worth $3,334,000 after acquiring an additional 3,888 shares during the last quarter. Mercer Global Advisors Inc. ADV grew its stake in shares of Coterra Energy by 3.3% during the 4th quarter. Mercer Global Advisors Inc. ADV now owns 33,489 shares of the company's stock valued at $855,000 after acquiring an additional 1,061 shares during the period. AXA S.A. grew its stake in shares of Coterra Energy by 306.0% during the 4th quarter. AXA S.A. now owns 106,183 shares of the company's stock valued at $2,712,000 after acquiring an additional 80,030 shares during the period. Aptus Capital Advisors LLC bought a new position in shares of Coterra Energy during the 4th quarter valued at approximately $475,000. Finally, Algert Global LLC bought a new position in shares of Coterra Energy during the 4th quarter valued at approximately $374,000. Institutional investors own 87.92% of the company's stock.

Analysts Set New Price Targets

A number of brokerages recently issued reports on CTRA. Scotiabank reiterated an "outperform" rating on shares of Coterra Energy in a research note on Friday, July 11th. Raymond James Financial set a $38.00 price objective on shares of Coterra Energy and gave the company an "outperform" rating in a research report on Friday, June 13th. Piper Sandler raised their price objective on shares of Coterra Energy from $37.00 to $39.00 and gave the company an "overweight" rating in a research report on Thursday, August 14th. Barclays raised their price objective on shares of Coterra Energy from $35.00 to $37.00 and gave the company an "overweight" rating in a research report on Monday, July 7th. Finally, Mizuho decreased their price objective on shares of Coterra Energy from $38.00 to $36.00 and set an "outperform" rating on the stock in a research report on Tuesday, May 13th. Fourteen equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to MarketBeat, Coterra Energy currently has a consensus rating of "Moderate Buy" and an average price target of $33.61.

Coterra Energy Price Performance

Shares of CTRA traded up $0.34 during mid-day trading on Wednesday, hitting $24.19. 1,892,679 shares of the stock were exchanged, compared to its average volume of 6,915,464. The company has a market cap of $18.46 billion, a PE ratio of 11.57, a price-to-earnings-growth ratio of 0.32 and a beta of 0.34. Coterra Energy Inc. has a 52-week low of $22.30 and a 52-week high of $29.95. The firm has a 50-day moving average of $24.18 and a two-hundred day moving average of $25.37. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.08 and a current ratio of 1.13.

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 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 business had revenue of $1.97 billion during the quarter, compared to analysts' expectations of $1.78 billion. During the same period in the previous year, the business earned $0.37 earnings per share. The business's quarterly revenue was up 54.6% on a year-over-year basis. On average, equities analysts predict that Coterra Energy Inc. will post 1.54 earnings per share for the current year.

Coterra Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 28th. Shareholders of record on Thursday, August 14th were paid a $0.22 dividend. The ex-dividend date was Thursday, August 14th. This represents a $0.88 dividend on an annualized basis and a yield of 3.6%. 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.