Scientech Research LLC Acquires Shares of 22,821 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 purchased a new stake in shares of Coterra Energy Inc. (NYSE:CTRA - Free Report) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 22,821 shares of the company's stock, valued at approximately $660,000.

Other large investors have also made changes to their positions in the company. Pingora Partners LLC grew its stake in shares of Coterra Energy by 0.8% during the 1st 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 period. NFJ Investment Group LLC bought a new position in shares of Coterra Energy during the 1st quarter valued at approximately $14,614,000. Nissay Asset Management Corp Japan ADV grew its stake in shares of Coterra Energy by 0.7% during the 1st quarter. Nissay Asset Management Corp Japan ADV now owns 89,765 shares of the company's stock valued at $2,594,000 after acquiring an additional 591 shares during the period. Interval Partners LP grew its stake in shares of Coterra Energy by 90.2% during the 1st quarter. Interval Partners LP now owns 278,034 shares of the company's stock valued at $8,035,000 after acquiring an additional 131,833 shares during the period. Finally, Jacobs Levy Equity Management Inc. grew its stake in shares of Coterra Energy by 7.3% during the 1st quarter. Jacobs Levy Equity Management Inc. now owns 824,457 shares of the company's stock valued at $23,827,000 after acquiring an additional 56,124 shares during the period. 87.92% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research analysts recently commented on the company. Raymond James Financial reissued an "outperform" rating and issued a $34.00 price target (down from $38.00) on shares of Coterra Energy in a report on Thursday. Pickering Energy Partners cut Coterra Energy from an "outperform" rating to a "neutral" rating in a report on Tuesday, May 20th. Scotiabank reissued an "outperform" rating on shares of Coterra Energy in a report on Friday, July 11th. Wells Fargo & Company boosted their price target on Coterra Energy from $32.00 to $33.00 and gave the stock an "overweight" rating in a report on Thursday, August 14th. Finally, Piper Sandler boosted their price target on Coterra Energy from $37.00 to $39.00 and gave the stock an "overweight" rating in a report on Thursday, August 14th. Fourteen analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat.com, Coterra Energy currently has a consensus rating of "Moderate Buy" and a consensus target price of $33.39.

Coterra Energy Price Performance

Shares of CTRA traded down $0.01 during mid-day trading on Friday, hitting $24.36. 4,146,724 shares of the stock were exchanged, compared to its average volume of 5,107,425. The firm has a 50-day moving average of $24.14 and a two-hundred day moving average of $25.31. Coterra Energy Inc. has a 52-week low of $22.46 and a 52-week high of $29.95. The company has a market cap of $18.59 billion, a PE ratio of 11.66, a price-to-earnings-growth ratio of 0.34 and a beta of 0.34. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.08 and a current ratio of 1.13.

Coterra Energy (NYSE:CTRA - Get Free Report) last released its quarterly earnings results on Monday, August 4th. The company reported $0.48 earnings per share 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 company had revenue of $1.97 billion for the quarter, compared to analysts' expectations of $1.78 billion. During the same quarter in the previous year, the company posted $0.37 EPS. The business's quarterly revenue was up 54.6% on a year-over-year basis. On average, equities analysts predict that Coterra Energy Inc. will post 1.54 earnings per share for the current year.

Coterra Energy Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, August 28th. Investors of record on Thursday, August 14th were issued a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a yield of 3.6%. The ex-dividend date was Thursday, August 14th. Coterra Energy's dividend payout ratio is presently 42.11%.

Coterra Energy Company 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.