Old North State Wealth Management LLC Makes New Investment in Coterra Energy Inc. (NYSE:CTRA)

Old North State Wealth Management LLC bought a new position in shares of Coterra Energy Inc. (NYSE:CTRA - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 12,101 shares of the company's stock, valued at approximately $350,000.

Other hedge funds also recently bought and sold shares of the company. Wellington Management Group LLP lifted its position in shares of Coterra Energy by 1.9% during the fourth quarter. Wellington Management Group LLP now owns 72,528,767 shares of the company's stock worth $1,852,385,000 after purchasing an additional 1,318,754 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of Coterra Energy by 5.9% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 23,467,326 shares of the company's stock worth $599,356,000 after purchasing an additional 1,310,965 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of Coterra Energy by 0.5% during the fourth quarter. Geode Capital Management LLC now owns 19,096,761 shares of the company's stock worth $486,528,000 after purchasing an additional 96,059 shares in the last quarter. Victory Capital Management Inc. lifted its position in shares of Coterra Energy by 5.0% during the fourth quarter. Victory Capital Management Inc. now owns 17,808,693 shares of the company's stock worth $454,834,000 after purchasing an additional 845,609 shares in the last quarter. Finally, Invesco Ltd. lifted its position in shares of Coterra Energy by 9.0% during the fourth quarter. Invesco Ltd. now owns 12,232,484 shares of the company's stock worth $312,418,000 after purchasing an additional 1,011,166 shares in the last quarter. Hedge funds and other institutional investors own 87.92% of the company's stock.

Coterra Energy Stock Performance

NYSE:CTRA opened at $25.98 on Friday. The firm's fifty day moving average price is $25.21 and its 200 day moving average price is $26.39. Coterra Energy Inc. has a 1-year low of $22.30 and a 1-year 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 cap of $19.83 billion, a price-to-earnings ratio of 15.10, a price-to-earnings-growth ratio of 0.35 and a beta of 0.34.

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

Coterra Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 29th. Investors 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 dividend on an annualized basis and a yield of 3.39%. Coterra Energy's dividend payout ratio (DPR) is 51.16%.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the stock. Williams Trading set a $37.00 target price on shares of Coterra Energy in a report on Wednesday, March 5th. JPMorgan Chase & Co. reduced their target price on shares of Coterra Energy from $36.00 to $33.00 and set an "overweight" rating on the stock in a report on Thursday, March 13th. Susquehanna reduced their target price on shares of Coterra Energy from $34.00 to $32.00 and set a "positive" rating on the stock in a report on Tuesday, April 22nd. 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 report on Friday, May 9th. Finally, Mizuho reduced their target price 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. Four analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $33.30.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.