Janney Montgomery Scott LLC Increases Position in Coterra Energy Inc. (NYSE:CTRA)

Janney Montgomery Scott LLC boosted its holdings in Coterra Energy Inc. (NYSE:CTRA - Free Report) by 9.4% during the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 251,726 shares of the company's stock after purchasing an additional 21,733 shares during the quarter. Janney Montgomery Scott LLC's holdings in Coterra Energy were worth $7,275,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Wealth Enhancement Advisory Services LLC grew its holdings in Coterra Energy by 2.1% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 51,425 shares of the company's stock worth $1,486,000 after purchasing an additional 1,037 shares during the period. Everhart Financial Group Inc. grew its holdings in shares of Coterra Energy by 53.7% during the first quarter. Everhart Financial Group Inc. now owns 12,760 shares of the company's stock valued at $369,000 after buying an additional 4,457 shares during the last quarter. Donald L. Hagan LLC grew its holdings in shares of Coterra Energy by 1.1% during the first quarter. Donald L. Hagan LLC now owns 35,754 shares of the company's stock valued at $1,033,000 after buying an additional 401 shares during the last quarter. Greenwood Capital Associates LLC grew its holdings in shares of Coterra Energy by 27.5% during the first quarter. Greenwood Capital Associates LLC now owns 84,012 shares of the company's stock valued at $2,428,000 after buying an additional 18,107 shares during the last quarter. Finally, Fifth Third Bancorp grew its holdings in shares of Coterra Energy by 4.1% during the first quarter. Fifth Third Bancorp now owns 83,498 shares of the company's stock valued at $2,413,000 after buying an additional 3,257 shares during the last quarter. Hedge funds and other institutional investors own 87.92% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts have recently commented on CTRA shares. Mizuho cut their price target on shares of Coterra Energy from $38.00 to $36.00 and set an "outperform" rating on the stock in a report on Tuesday, May 13th. Bank of America cut their price target on shares of Coterra Energy from $34.00 to $33.00 and set a "buy" rating on the stock in a report on Tuesday, April 29th. Pickering Energy Partners cut shares of Coterra Energy from an "outperform" rating to a "neutral" rating in a report on Tuesday, May 20th. UBS Group cut their price target on shares of Coterra Energy from $32.00 to $30.00 and set a "buy" rating on the stock in a report on Friday, May 9th. Finally, Piper Sandler cut their price target on shares of Coterra Energy from $37.00 to $36.00 and set an "overweight" rating on the stock in a report on Tuesday, May 13th. Four investment analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, Coterra Energy currently has a consensus rating of "Moderate Buy" and a consensus target price of $33.30.

Coterra Energy Stock Up 0.9%

CTRA opened at $26.98 on Friday. The company has a current ratio of 0.90, a quick ratio of 0.86 and a debt-to-equity ratio of 0.30. Coterra Energy Inc. has a 1-year low of $22.30 and a 1-year high of $29.95. The company has a market capitalization of $20.60 billion, a PE ratio of 15.69, a PEG ratio of 0.37 and a beta of 0.34. The firm's 50 day simple moving average is $25.13 and its two-hundred day simple moving average is $26.37.

Coterra Energy (NYSE:CTRA - Get Free Report) last released its quarterly earnings results on Monday, May 5th. The company reported $0.80 earnings per share for the quarter, topping the consensus estimate of $0.71 by $0.09. Coterra Energy had a net margin of 21.67% and a return on equity of 10.61%. The business had revenue of $924.00 million for the quarter, compared to the consensus estimate of $1.92 billion. During the same period last year, the firm earned $0.51 earnings per share. The company's quarterly revenue was up 32.9% on a year-over-year basis. As a group, equities analysts forecast that Coterra Energy Inc. will post 1.54 EPS for the current year.

Coterra Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 29th. Shareholders of record on Thursday, May 15th were given a $0.22 dividend. The ex-dividend date was Thursday, May 15th. This represents a $0.88 annualized dividend and a yield of 3.26%. Coterra Energy's payout ratio is presently 51.16%.

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.

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