Wealth Advisory Solutions LLC Acquires New Shares in Coterra Energy Inc. $CTRA

Key Points

• Wealth Advisory Solutions LLC has acquired 13,482 shares of Coterra Energy Inc. valued at approximately $342,000 during the second quarter.
• In the same period, other institutional investors increased their holdings in Coterra Energy, with Wellington Management Group boosting its position by 15.3% and now owning shares worth $2.4 billion.
• Coterra Energy reported $1.97 billion in revenue for the previous quarter, exceeding analysts' expectations, while earnings per share missed predictions, standing at $0.48.

Wealth Advisory Solutions LLC acquired a new stake in shares of Coterra Energy Inc. (NYSE:CTRA - Free Report) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 13,482 shares of the company's stock, valued at approximately $342,000.

Several other institutional investors also recently modified their holdings of CTRA. Wellington Management Group LLP boosted its position in shares of Coterra Energy by 15.3% during the first quarter. Wellington Management Group LLP now owns 83,631,117 shares of the company's stock valued at $2,416,939,000 after buying an additional 11,102,350 shares during the last quarter. Vanguard Group Inc. boosted its position in shares of Coterra Energy by 4.3% during the first quarter. Vanguard Group Inc. now owns 92,337,673 shares of the company's stock valued at $2,668,559,000 after buying an additional 3,818,700 shares during the last quarter. Pacer Advisors Inc. boosted its position in shares of Coterra Energy by 5,145.4% during the first quarter. Pacer Advisors Inc. now owns 3,100,064 shares of the company's stock valued at $89,592,000 after buying an additional 3,040,963 shares during the last quarter. Nuveen LLC purchased a new stake in shares of Coterra Energy during the first quarter valued at $64,173,000. Finally, Charles Schwab Investment Management Inc. boosted its position in shares of Coterra Energy by 7.8% during the first quarter. Charles Schwab Investment Management Inc. now owns 25,304,940 shares of the company's stock valued at $731,313,000 after buying an additional 1,837,614 shares during the last quarter. 87.92% of the stock is owned by hedge funds and other institutional investors.

Coterra Energy Stock Performance

NYSE:CTRA opened at $23.16 on Tuesday. 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 12-month low of $22.46 and a 12-month high of $29.95. The stock has a 50-day moving average price of $23.99 and a 200 day moving average price of $25.20. The stock has a market capitalization of $17.67 billion, a P/E ratio of 11.08, a P/E/G ratio of 0.33 and a beta of 0.34.

Coterra Energy (NYSE:CTRA - Get Free Report) last released its 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 business had revenue of $1.97 billion for the quarter, compared to analysts' expectations of $1.78 billion. During the same quarter in the prior year, the business posted $0.37 EPS. The business's revenue for the quarter was up 54.6% compared to the same quarter last year. Equities research analysts forecast that Coterra Energy Inc. will post 1.54 EPS for the current fiscal year.

Coterra Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 28th. Shareholders of record on Thursday, August 14th were paid a $0.22 dividend. The ex-dividend date of this dividend was Thursday, August 14th. This represents a $0.88 dividend on an annualized basis and a yield of 3.8%. Coterra Energy's payout ratio is presently 42.11%.

Analyst Ratings Changes

Several equities research analysts recently commented on the company. Mizuho dropped their price objective on Coterra Energy from $36.00 to $33.00 and set an "outperform" rating on the stock in a research report on Monday, September 15th. Raymond James Financial reissued an "outperform" rating and issued a $34.00 target price (down previously from $38.00) on shares of Coterra Energy in a report on Thursday, September 11th. Scotiabank reissued an "outperform" rating on shares of Coterra Energy in a report on Friday, July 11th. Wells Fargo & Company increased their target price on Coterra Energy from $32.00 to $33.00 and gave the company an "overweight" rating in a report on Thursday, August 14th. Finally, Barclays increased their target price on Coterra Energy from $35.00 to $37.00 and gave the company an "overweight" rating in a report on Monday, July 7th. Fourteen analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat.com, Coterra Energy has a consensus rating of "Moderate Buy" and a consensus target price of $33.22.

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.

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