Scientech Research LLC Invests $660,000 in Coterra Energy Inc. $CTRA

Key Points

• Scientech Research LLC has invested approximately $660,000 in Coterra Energy, acquiring 22,821 shares in the company during the first quarter.
• Coterra Energy's stock is currently rated with a consensus of "Moderate Buy," with a target price averaging $33.61, according to multiple analysts.
• The company recently declared a quarterly dividend of $0.22, reflecting an annual yield of 3.7% and a payout ratio of 42.11%.

Scientech Research LLC acquired a new position in shares of Coterra Energy Inc. (NYSE:CTRA - Free Report) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 22,821 shares of the company's stock, valued at approximately $660,000.

Other large investors also recently added to or reduced their stakes in the company. Pingora Partners LLC raised its stake in shares of Coterra Energy by 0.8% during the first quarter. Pingora Partners LLC now owns 139,041 shares of the company's stock valued at $4,018,000 after acquiring an additional 1,124 shares during the last quarter. NFJ Investment Group LLC bought a new stake in Coterra Energy during the first quarter worth about $14,614,000. Nissay Asset Management Corp Japan ADV boosted its stake in Coterra Energy by 0.7% during the first quarter. Nissay Asset Management Corp Japan ADV now owns 89,765 shares of the company's stock worth $2,594,000 after acquiring an additional 591 shares in the last quarter. Interval Partners LP boosted its stake in Coterra Energy by 90.2% during the first quarter. Interval Partners LP now owns 278,034 shares of the company's stock worth $8,035,000 after acquiring an additional 131,833 shares in the last quarter. Finally, Jacobs Levy Equity Management Inc. lifted its stake in shares of Coterra Energy by 7.3% in the first quarter. Jacobs Levy Equity Management Inc. now owns 824,457 shares of the company's stock worth $23,827,000 after buying an additional 56,124 shares in the last quarter. Hedge funds and other institutional investors own 87.92% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the stock. Pickering Energy Partners downgraded shares of Coterra Energy from an "outperform" rating to a "neutral" rating in a research note on Tuesday, May 20th. Wells Fargo & Company upped their target price on shares of Coterra Energy from $32.00 to $33.00 and gave the company an "overweight" rating in a report on Thursday, August 14th. Raymond James Financial reaffirmed an "outperform" rating and set a $34.00 target price (down from $38.00) on shares of Coterra Energy in a report on Thursday. Barclays increased their price objective on shares of Coterra Energy from $35.00 to $37.00 and gave the stock an "overweight" rating in a research note on Monday, July 7th. Finally, The Goldman Sachs Group reissued a "neutral" rating and issued a $31.00 price objective on shares of Coterra Energy in a research note on Tuesday, July 1st. Fourteen research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $33.39.

Coterra Energy Price Performance

CTRA stock traded down $0.01 during trading on Friday, hitting $24.36. 4,146,724 shares of the company's stock traded hands, compared to its average volume of 4,998,333. Coterra Energy Inc. has a 52 week low of $22.46 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 $24.14 and a 200 day simple moving average of $25.30. The stock has a market capitalization of $18.59 billion, a price-to-earnings ratio of 11.66, a P/E/G ratio of 0.34 and a beta of 0.34.

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). Coterra Energy had a net margin of 23.80% and a return on equity of 10.99%. The business had revenue of $1.97 billion for the quarter, compared to the consensus estimate of $1.78 billion. During the same quarter last year, the business earned $0.37 EPS. Coterra Energy's revenue for the quarter was up 54.6% compared to the same quarter last year. As a group, research analysts expect that Coterra Energy Inc. will post 1.54 EPS for the current fiscal year.

Coterra Energy Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, August 28th. Stockholders of record on Thursday, August 14th were issued a $0.22 dividend. This represents a $0.88 annualized dividend and a dividend yield of 3.6%. The ex-dividend date was Thursday, August 14th. Coterra Energy's dividend payout ratio (DPR) is 42.11%.

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.