Vident Advisory LLC Has $1.27 Million Holdings in Coterra Energy Inc. $CTRA

Key Points

• Vident Advisory LLC significantly increased its position in Coterra Energy Inc. by 137.1%, amassing 44,026 shares valued at approximately $1.27 million.
• Coterra Energy reported a quarterly earnings per share (EPS) of $0.48, slightly missing analyst estimates, but achieved a 54.6% year-over-year revenue growth.
• The company has declared a quarterly dividend of $0.22 per share, which translates to an annualized yield of 3.7% with a payout ratio of 42.11%.

Vident Advisory LLC lifted its holdings in shares of Coterra Energy Inc. (NYSE:CTRA - Free Report) by 137.1% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 44,026 shares of the company's stock after acquiring an additional 25,461 shares during the quarter. Vident Advisory LLC's holdings in Coterra Energy were worth $1,272,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in CTRA. Cornerstone Planning Group LLC lifted its holdings in shares of 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. grew its position in Coterra Energy by 463.5% in the first quarter. Raleigh Capital Management Inc. now owns 896 shares of the company's stock valued at $26,000 after acquiring an additional 737 shares in the last quarter. Banque Cantonale Vaudoise acquired a new stake in Coterra Energy in the first quarter valued at approximately $29,000. Wayfinding Financial LLC acquired a new stake in Coterra Energy in the first quarter valued at approximately $34,000. Finally, Investors Research Corp grew its position in Coterra Energy by 45.2% in the first quarter. Investors Research Corp now owns 1,311 shares of the company's stock valued at $38,000 after acquiring an additional 408 shares in the last quarter. Institutional investors and hedge funds own 87.92% of the company's stock.

Coterra Energy Price Performance

NYSE:CTRA traded up $0.06 during trading hours on Tuesday, reaching $23.91. 1,238,290 shares of the company's stock were exchanged, compared to its average volume of 6,925,959. The company has a market capitalization of $18.24 billion, a P/E ratio of 11.43, a price-to-earnings-growth ratio of 0.32 and a beta of 0.34. Coterra Energy Inc. has a 12 month low of $22.30 and a 12 month high of $29.95. The company has a quick ratio of 1.08, a current ratio of 1.13 and a debt-to-equity ratio of 0.29. The business's 50-day simple moving average is $24.21 and its two-hundred day simple moving average is $25.38.

Coterra Energy (NYSE:CTRA - Get Free Report) last issued its earnings results on Monday, August 4th. The company reported $0.48 earnings per share for the quarter, missing analysts' consensus estimates of $0.50 by ($0.02). The business had revenue of $1.97 billion for the quarter, compared to the consensus estimate of $1.78 billion. Coterra Energy had a return on equity of 10.99% and a net margin of 23.80%.The company's quarterly revenue was up 54.6% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.37 earnings per share. Sell-side analysts expect that Coterra Energy Inc. will post 1.54 EPS for the current fiscal year.

Coterra Energy Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, August 28th. Stockholders of record on Thursday, August 14th were issued a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a dividend yield of 3.7%. The ex-dividend date was Thursday, August 14th. Coterra Energy's payout ratio is currently 42.11%.

Analysts Set New Price Targets

CTRA has been the topic of a number of recent analyst reports. Piper Sandler boosted their price objective on shares of Coterra Energy from $37.00 to $39.00 and gave the stock an "overweight" rating in a report on Thursday, August 14th. Raymond James Financial set a $38.00 price objective on shares of Coterra Energy and gave the stock an "outperform" rating in a report on Friday, June 13th. Wells Fargo & Company boosted their price objective on shares of Coterra Energy from $32.00 to $33.00 and gave the stock an "overweight" rating in a report on Thursday, August 14th. Scotiabank reiterated an "outperform" rating on shares of Coterra Energy in a report on Friday, July 11th. Finally, Pickering Energy Partners lowered shares of Coterra Energy from an "outperform" rating to a "neutral" rating in a report on Tuesday, May 20th. Fourteen research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $33.61.

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.