Jefferies Financial Group Inc. Raises Stock Position in Coterra Energy Inc. (NYSE:CTRA)

Key Points

• Jefferies Financial Group Inc. increased its holdings in Coterra Energy Inc. by 49.5% in Q1, owning approximately $19.58 million worth of Coterra stock.
• Coterra Energy announced a quarterly dividend of $0.22 per share, representing an annualized yield of 3.6% and a dividend payout ratio of 51.16%.
• Research analysts have mixed views on Coterra Energy's stock, with target prices ranging from $28.00 to $37.00 and an average rating of "Moderate Buy."

Jefferies Financial Group Inc. raised its position in shares of Coterra Energy Inc. (NYSE:CTRA - Free Report) by 49.5% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 677,529 shares of the company's stock after purchasing an additional 224,407 shares during the quarter. Jefferies Financial Group Inc. owned 0.09% of Coterra Energy worth $19,581,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in CTRA. Cornerstone Planning Group LLC raised its stake in 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 purchasing an additional 555 shares in the last quarter. Raleigh Capital Management Inc. raised its stake in 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 purchasing an additional 737 shares in the last quarter. Banque Cantonale Vaudoise purchased a new stake in Coterra Energy during the first quarter valued at $29,000. Wayfinding Financial LLC purchased a new stake in Coterra Energy during the first quarter valued at $34,000. Finally, Investors Research Corp raised its stake in 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 purchasing an additional 408 shares in 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 recently issued reports on CTRA shares. Piper Sandler reaffirmed an "overweight" rating and set a $37.00 price target (up previously from $36.00) on shares of Coterra Energy in a research note on Thursday, July 17th. Mizuho decreased their price target on shares of Coterra Energy from $38.00 to $36.00 and set an "outperform" rating on the stock in a research note on Tuesday, May 13th. The Goldman Sachs Group reissued a "neutral" rating and issued a $31.00 target price on shares of Coterra Energy in a research note on Tuesday, July 1st. Barclays increased their target price on shares of Coterra Energy from $35.00 to $37.00 and gave the company an "overweight" rating in a research note on Monday, July 7th. Finally, UBS Group reduced their target price on shares of Coterra Energy from $32.00 to $30.00 and set a "buy" rating on the stock in a research note on Friday, May 9th. 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, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $33.16.

Coterra Energy Stock Performance

CTRA traded down $0.70 on Friday, reaching $23.69. 6,985,328 shares of the stock were exchanged, compared to its average volume of 6,408,514. Coterra Energy Inc. has a fifty-two week low of $22.30 and a fifty-two week high of $29.95. The company has a debt-to-equity ratio of 0.30, a current ratio of 0.90 and a quick ratio of 0.86. The firm has a market capitalization of $18.08 billion, a PE ratio of 13.77, a PEG ratio of 0.33 and a beta of 0.33. The company's 50-day moving average price is $25.13 and its 200 day moving average price is $26.21.

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

Coterra Energy Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, May 29th. Investors of record on Thursday, May 15th were issued a $0.22 dividend. This represents a $0.88 annualized dividend and a yield of 3.7%. The ex-dividend date of this dividend was Thursday, May 15th. Coterra Energy's payout ratio is presently 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.