Level Four Advisory Services LLC Purchases 19,239 Shares of Coterra Energy Inc. $CTRA

Key Points

• Level Four Advisory Services LLC increased its holdings in Coterra Energy Inc. by 10.0%, totaling 210,756 shares valued at approximately $6.1 million at the end of the most recent quarter.
• Coterra Energy's quarterly earnings were $0.48 per share, missing estimates, although revenue increased by 54.6% compared to the previous year, totaling $1.97 billion.
• The company announced a quarterly dividend of $0.22 per share, with an annualized dividend yield of 3.8%, to be paid on August 28th.

Level Four Advisory Services LLC lifted its position in Coterra Energy Inc. (NYSE:CTRA - Free Report) by 10.0% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 210,756 shares of the company's stock after purchasing an additional 19,239 shares during the period. Level Four Advisory Services LLC's holdings in Coterra Energy were worth $6,091,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Dark Forest Capital Management LP purchased a new stake in shares of Coterra Energy in the fourth quarter worth $942,000. State of Tennessee Department of Treasury increased its stake in shares of Coterra Energy by 7.1% in the fourth quarter. State of Tennessee Department of Treasury now owns 472,799 shares of the company's stock worth $12,075,000 after purchasing an additional 31,425 shares in the last quarter. BI Asset Management Fondsmaeglerselskab A S purchased a new stake in shares of Coterra Energy in the fourth quarter worth $641,000. Allspring Global Investments Holdings LLC increased its stake in shares of Coterra Energy by 7.6% in the first quarter. Allspring Global Investments Holdings LLC now owns 123,054 shares of the company's stock worth $3,577,000 after purchasing an additional 8,726 shares in the last quarter. Finally, Vontobel Holding Ltd. purchased a new stake in shares of Coterra Energy in the first quarter worth $233,000. 87.92% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on CTRA shares. UBS Group cut their target price on shares of Coterra Energy from $32.00 to $30.00 and set a "buy" rating for the company in a research note on Friday, May 9th. Wells Fargo & Company raised their target price on shares of Coterra Energy from $32.00 to $33.00 and gave the company an "overweight" rating in a research note on Thursday, August 14th. Piper Sandler raised their target price on shares of Coterra Energy from $37.00 to $39.00 and gave the company an "overweight" rating in a research note on Thursday, August 14th. Pickering Energy Partners cut shares of Coterra Energy from an "outperform" rating to a "neutral" rating in a research note on Tuesday, May 20th. Finally, Scotiabank reaffirmed an "outperform" rating on shares of Coterra Energy in a research note on Friday, July 11th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $33.37.

Coterra Energy Price Performance

CTRA stock traded up $0.3350 during trading on Friday, hitting $23.7750. 4,496,978 shares of the company's stock traded hands, compared to its average volume of 6,616,784. Coterra Energy Inc. has a 52 week low of $22.30 and a 52 week high of $29.95. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.08 and a current ratio of 1.13. The business has a fifty day simple moving average of $24.69 and a 200 day simple moving average of $25.70. The stock has a market capitalization of $18.14 billion, a price-to-earnings ratio of 11.38, a P/E/G ratio of 0.32 and a beta of 0.33.

Coterra Energy (NYSE:CTRA - Get Free Report) last released its quarterly earnings data on Monday, August 4th. The company reported $0.48 EPS for the quarter, missing the consensus estimate of $0.50 by ($0.02). The business had revenue of $1.97 billion for the quarter, compared to the consensus estimate of $1.78 billion. Coterra Energy had a net margin of 23.80% and a return on equity of 10.99%. Coterra Energy's revenue for the quarter was up 54.6% compared to the same quarter last year. During the same quarter last year, the business earned $0.37 EPS. As a group, research analysts expect that Coterra Energy Inc. will post 1.54 EPS for the current fiscal year.

Coterra Energy Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, August 28th. Stockholders of record on Thursday, August 14th will be issued a $0.22 dividend. This represents a $0.88 annualized dividend and a dividend yield of 3.7%. The ex-dividend date is Thursday, August 14th. Coterra Energy's dividend payout ratio (DPR) is 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.