OneDigital Investment Advisors LLC Invests $316,000 in Coterra Energy Inc. (NYSE:CTRA)

OneDigital Investment Advisors LLC acquired a new position in Coterra Energy Inc. (NYSE:CTRA - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 10,940 shares of the company's stock, valued at approximately $316,000.

Several other hedge funds and other institutional investors have also modified their holdings of CTRA. Proficio Capital Partners LLC bought a new position in Coterra Energy in the fourth quarter worth $3,624,000. Daiwa Securities Group Inc. lifted its position in Coterra Energy by 39.0% in the fourth quarter. Daiwa Securities Group Inc. now owns 125,636 shares of the company's stock worth $3,209,000 after purchasing an additional 35,259 shares during the period. Sequoia Financial Advisors LLC lifted its position in Coterra Energy by 12.4% in the fourth quarter. Sequoia Financial Advisors LLC now owns 32,513 shares of the company's stock worth $830,000 after purchasing an additional 3,599 shares during the period. Avantax Advisory Services Inc. lifted its position in Coterra Energy by 7.5% in the fourth quarter. Avantax Advisory Services Inc. now owns 95,225 shares of the company's stock worth $2,432,000 after purchasing an additional 6,666 shares during the period. Finally, Vestcor Inc lifted its position in Coterra Energy by 29.5% in the fourth quarter. Vestcor Inc now owns 19,875 shares of the company's stock worth $508,000 after purchasing an additional 4,533 shares during the period. Institutional investors and hedge funds own 87.92% of the company's stock.

Coterra Energy Price Performance

Coterra Energy stock opened at $25.30 on Friday. The firm has a market capitalization of $19.31 billion, a P/E ratio of 14.71, a PEG ratio of 0.35 and a beta of 0.35. Coterra Energy Inc. has a 1 year low of $22.30 and a 1 year high of $29.95. The business has a 50-day moving average of $25.18 and a 200-day moving average of $26.44. 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 (NYSE:CTRA - Get Free Report) last posted its earnings results on Monday, May 5th. The company reported $0.80 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.71 by $0.09. Coterra Energy had a return on equity of 10.61% and a net margin of 21.67%. The company had revenue of $924.00 million during the quarter, compared to analyst estimates of $1.92 billion. During the same period in the previous year, the company earned $0.51 EPS. The company's revenue for the quarter was up 32.9% compared to the same quarter last year. On average, equities analysts anticipate that Coterra Energy Inc. will post 1.54 EPS for the current year.

Coterra Energy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, May 29th. Stockholders of record on Thursday, May 15th were issued a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a dividend yield of 3.48%. The ex-dividend date was Thursday, May 15th. Coterra Energy's dividend payout ratio (DPR) is presently 51.16%.

Analyst Upgrades and Downgrades

CTRA has been the subject of several research reports. Susquehanna reduced their target price on Coterra Energy from $34.00 to $32.00 and set a "positive" rating for the company in a research report on Tuesday, April 22nd. Scotiabank lifted their price objective on Coterra Energy from $33.00 to $35.00 and gave the company a "sector outperform" rating in a report on Friday. Morgan Stanley set a $28.00 price objective on Coterra Energy in a report on Tuesday, April 15th. Bank of America cut their price objective on Coterra Energy from $34.00 to $33.00 and set a "buy" rating for the company in a report on Tuesday, April 29th. Finally, Piper Sandler cut their price objective on Coterra Energy from $37.00 to $36.00 and set an "overweight" rating for the company in a report on Tuesday, May 13th. Four equities research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $33.20.

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.

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