Kingstone Capital Partners Texas LLC Makes New $30.33 Million Investment in Coterra Energy Inc. $CTRA

Key Points

• Kingstone Capital Partners Texas LLC invested approximately $30.33 million in Coterra Energy Inc., acquiring 1,248,735 shares, representing about 0.16% ownership of the company.
• Analyst ratings for Coterra Energy show a consensus of "Moderate Buy," with fourteen analysts recommending a Buy and a target price averaging $33.22.
• Coterra Energy's most recent earnings report revealed a quarterly EPS of $0.48, slightly below the consensus estimate of $0.50, with revenue of $1.97 billion, exceeding expectations and representing a 54.6% year-over-year increase.

Kingstone Capital Partners Texas LLC bought a new position in shares of Coterra Energy Inc. (NYSE:CTRA - Free Report) during the second quarter, according to its most recent Form 13F filing with the SEC. The fund bought 1,248,735 shares of the company's stock, valued at approximately $30,325,000. Kingstone Capital Partners Texas LLC owned about 0.16% of Coterra Energy at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Cornerstone Planning Group LLC grew its position 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 buying an additional 555 shares during the period. Raleigh Capital Management Inc. increased its position in shares of Coterra Energy by 463.5% during the 1st quarter. Raleigh Capital Management Inc. now owns 896 shares of the company's stock valued at $26,000 after purchasing an additional 737 shares during the last quarter. Banque Cantonale Vaudoise purchased a new stake in Coterra Energy in the 1st quarter worth approximately $29,000. Wayfinding Financial LLC bought a new position in Coterra Energy in the 1st quarter worth approximately $34,000. Finally, Investors Research Corp boosted its position in shares of Coterra Energy by 45.2% during the 1st 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. 87.92% of the stock is owned by institutional investors.

Coterra Energy Stock Up 1.8%

NYSE CTRA traded up $0.42 during trading hours on Tuesday, reaching $23.52. 3,843,769 shares of the company's stock traded hands, compared to its average volume of 6,939,651. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.13 and a quick ratio of 1.08. The firm has a market cap of $17.95 billion, a PE ratio of 11.26, a PEG ratio of 0.33 and a beta of 0.34. Coterra Energy Inc. has a 52-week low of $22.46 and a 52-week high of $29.95. The firm has a 50-day simple moving average of $23.99 and a 200 day simple moving average of $25.20.

Coterra Energy (NYSE:CTRA - Get Free Report) last posted its quarterly earnings results on Monday, August 4th. The company reported $0.48 earnings per share 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 firm had revenue of $1.97 billion during the quarter, compared to the consensus estimate of $1.78 billion. During the same quarter in the previous year, the company earned $0.37 earnings per share. The business's revenue for the quarter was up 54.6% compared to the same quarter last year. Sell-side analysts anticipate that Coterra Energy Inc. will post 1.54 EPS for the current fiscal year.

Coterra Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 28th. Stockholders of record on Thursday, August 14th were given a dividend of $0.22 per share. The ex-dividend date was Thursday, August 14th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 3.7%. Coterra Energy's dividend payout ratio (DPR) is 42.11%.

Analyst Ratings Changes

Several equities research analysts have weighed in on CTRA shares. The Goldman Sachs Group restated a "neutral" rating and set a $31.00 price target on shares of Coterra Energy in a report on Tuesday, July 1st. Raymond James Financial reissued an "outperform" rating and issued a $34.00 price objective (down from $38.00) on shares of Coterra Energy in a report on Thursday, September 11th. Wells Fargo & Company increased their target price on Coterra Energy from $32.00 to $33.00 and gave the company an "overweight" rating in a report on Thursday, August 14th. Piper Sandler raised their price target on Coterra Energy from $37.00 to $39.00 and gave the company an "overweight" rating in a research report on Thursday, August 14th. Finally, Mizuho dropped their price objective on shares of Coterra Energy from $36.00 to $33.00 and set an "outperform" rating for the company in a report on Monday, September 15th. Fourteen investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $33.22.

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.