Park Avenue Securities LLC Invests $1.12 Million in Coterra Energy Inc. $CTRA

Key Points

• Park Avenue Securities LLC acquired approximately $1.12 million in shares of Coterra Energy Inc. during the second quarter, purchasing 44,001 shares of the company.
• Coterra Energy reported $1.97 billion in revenue for the last quarter, exceeding the consensus estimate of $1.78 billion, while earnings per share were $0.48, slightly below expectations.
• The company declared a quarterly dividend of $0.22 per share, representing an annual yield of 3.7%, with a dividend payout ratio of 42.11%.

Park Avenue Securities LLC bought a new position in shares of Coterra Energy Inc. (NYSE:CTRA - Free Report) during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 44,001 shares of the company's stock, valued at approximately $1,117,000.

Other institutional investors also recently modified their holdings of the company. Cornerstone Planning Group LLC lifted its stake in Coterra Energy by 175.6% during the 1st quarter. Cornerstone Planning Group LLC now owns 871 shares of the company's stock valued at $25,000 after acquiring an additional 555 shares in the last quarter. Raleigh Capital Management Inc. lifted its holdings in Coterra Energy by 463.5% during the 1st quarter. Raleigh Capital Management Inc. now owns 896 shares of the company's stock worth $26,000 after purchasing an additional 737 shares in the last quarter. Banque Cantonale Vaudoise purchased a new stake in Coterra Energy during the 1st quarter worth about $29,000. Wayfinding Financial LLC purchased a new stake in Coterra Energy during the 1st quarter worth about $34,000. Finally, Investors Research Corp lifted its holdings in Coterra Energy by 45.2% during the 1st quarter. Investors Research Corp now owns 1,311 shares of the company's stock worth $38,000 after purchasing an additional 408 shares in the last quarter. 87.92% of the stock is owned by institutional investors and hedge funds.

Coterra Energy Stock Performance

Shares of NYSE CTRA opened at $23.83 on Friday. The stock's 50-day moving average is $23.93 and its 200 day moving average is $25.14. The company has a current ratio of 1.13, a quick ratio of 1.08 and a debt-to-equity ratio of 0.29. Coterra Energy Inc. has a 1-year low of $22.46 and a 1-year high of $29.95. The stock has a market cap of $18.18 billion, a price-to-earnings ratio of 11.40, a P/E/G ratio of 0.33 and a beta of 0.34.

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 (EPS) for the quarter, missing the consensus estimate of $0.50 by ($0.02). Coterra Energy had a return on equity of 10.99% and a net margin of 23.80%.The company had revenue of $1.97 billion for the quarter, compared to the consensus estimate of $1.78 billion. During the same quarter in the previous year, the business earned $0.37 earnings per share. Coterra Energy's revenue was up 54.6% compared to the same quarter last year. On average, sell-side analysts anticipate 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, August 28th. Investors of record on Thursday, August 14th were given a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a yield of 3.7%. The ex-dividend date was Thursday, August 14th. Coterra Energy's dividend payout ratio (DPR) is presently 42.11%.

Analyst Ratings Changes

CTRA has been the topic of several recent analyst reports. Raymond James Financial reaffirmed an "outperform" rating and issued a $34.00 price target (down previously from $38.00) on shares of Coterra Energy in a report on Thursday, September 11th. The Goldman Sachs Group reaffirmed a "neutral" rating and issued a $31.00 price target on shares of Coterra Energy in a report on Tuesday, July 1st. Barclays raised their price target on Coterra Energy from $35.00 to $37.00 and gave the company an "overweight" rating in a report on Monday, July 7th. Mizuho lowered their price target on Coterra Energy from $36.00 to $33.00 and set an "outperform" rating on the stock in a report on Monday, September 15th. Finally, Scotiabank reaffirmed an "outperform" rating on shares of Coterra Energy in a report on Friday, July 11th. Fourteen equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $33.22.

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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