Tortoise Capital Advisors L.L.C. Raises Stake in Coterra Energy Inc. $CTRA

Key Points

• Tortoise Capital Advisors L.L.C. increased its holdings in Coterra Energy Inc. by 19.0%, owning approximately 514,385 shares valued at $14.87 million as of its latest SEC filing.
• Coterra Energy recently reported a net margin of 23.80% and a revenue of $1.97 billion for the last quarter, indicating a growth of 54.6% year-over-year.
• The company has declared a quarterly dividend of $0.22 per share, which results in an annualized dividend yield of 3.8% and reflects a payout ratio of 42.11%.

Tortoise Capital Advisors L.L.C. lifted its stake in shares of Coterra Energy Inc. (NYSE:CTRA - Free Report) by 19.0% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 514,385 shares of the company's stock after buying an additional 81,989 shares during the quarter. Tortoise Capital Advisors L.L.C. owned about 0.07% of Coterra Energy worth $14,866,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently modified their holdings of the stock. Norinchukin Bank The grew its position in shares of Coterra Energy by 18.3% during the 1st quarter. Norinchukin Bank The now owns 47,097 shares of the company's stock worth $1,361,000 after buying an additional 7,294 shares during the period. CW Advisors LLC raised its stake in Coterra Energy by 84.8% in the 1st quarter. CW Advisors LLC now owns 77,748 shares of the company's stock valued at $2,255,000 after acquiring an additional 35,672 shares during the period. Summit Financial LLC purchased a new position in shares of Coterra Energy during the first quarter worth about $215,000. Candriam S.C.A. grew its holdings in shares of Coterra Energy by 45.4% during the first quarter. Candriam S.C.A. now owns 42,202 shares of the company's stock worth $1,220,000 after purchasing an additional 13,179 shares in the last quarter. Finally, Level Four Advisory Services LLC grew its holdings in shares of Coterra Energy by 10.0% during the first quarter. Level Four Advisory Services LLC now owns 210,756 shares of the company's stock worth $6,091,000 after purchasing an additional 19,239 shares in the last quarter. Institutional investors and hedge funds own 87.92% of the company's stock.

Analysts Set New Price Targets

Several analysts have weighed in on CTRA shares. Pickering Energy Partners downgraded Coterra Energy from an "outperform" rating to a "neutral" rating in a research report on Tuesday, May 20th. Raymond James Financial set a $38.00 price target on Coterra Energy and gave the stock an "outperform" rating in a research note on Friday, June 13th. Piper Sandler lifted their target price on Coterra Energy from $37.00 to $39.00 and gave the company an "overweight" rating in a research report on Thursday, August 14th. The Goldman Sachs Group restated a "neutral" rating and issued a $31.00 price objective on shares of Coterra Energy in a research report on Tuesday, July 1st. Finally, Scotiabank restated an "outperform" rating on shares of Coterra Energy in a research report on Friday, July 11th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $33.37.

Coterra Energy Price Performance

CTRA stock traded up $0.3350 during trading on Friday, hitting $23.7750. The stock had a trading volume of 4,496,978 shares, compared to its average volume of 6,675,101. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.13 and a quick ratio of 1.08. Coterra Energy Inc. has a twelve month low of $22.30 and a twelve month high of $29.95. The stock has a market capitalization of $18.14 billion, a P/E ratio of 11.38, a PEG ratio of 0.32 and a beta of 0.33. The company's 50-day moving average price is $24.69 and its two-hundred day moving average price is $25.67.

Coterra Energy (NYSE:CTRA - Get Free Report) last posted its earnings results 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 during the quarter, compared to analysts' expectations of $1.78 billion. During the same period last year, the company earned $0.37 EPS. The business's quarterly revenue was up 54.6% compared to the same quarter last year. As a group, research analysts predict that Coterra Energy Inc. will post 1.54 EPS for the current fiscal year.

Coterra Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 28th. Investors of record on Thursday, August 14th will be paid a $0.22 dividend. The ex-dividend date of this dividend is Thursday, August 14th. This represents a $0.88 dividend on an annualized basis and a yield of 3.7%. Coterra Energy's dividend payout ratio (DPR) is currently 42.11%.

Coterra Energy 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.