LRI Investments LLC Makes New Investment in Coterra Energy Inc. (NYSE:CTRA)

LRI Investments LLC acquired a new position in Coterra Energy Inc. (NYSE:CTRA) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 8,582 shares of the company’s stock, valued at approximately $240,000.

Several other large investors have also recently made changes to their positions in CTRA. Redwood Wealth Management Group LLC raised its position in shares of Coterra Energy by 2.3% in the first quarter. Redwood Wealth Management Group LLC now owns 18,974 shares of the company’s stock valued at $529,000 after purchasing an additional 429 shares during the period. Stone House Investment Management LLC boosted its position in shares of Coterra Energy by 32.4% in the fourth quarter. Stone House Investment Management LLC now owns 1,791 shares of the company’s stock valued at $46,000 after acquiring an additional 438 shares during the period. Quent Capital LLC grew its stake in Coterra Energy by 8.1% during the first quarter. Quent Capital LLC now owns 5,924 shares of the company’s stock valued at $165,000 after acquiring an additional 446 shares in the last quarter. Financial Advisors Network Inc. increased its holdings in Coterra Energy by 3.6% during the 4th quarter. Financial Advisors Network Inc. now owns 14,575 shares of the company’s stock worth $372,000 after acquiring an additional 501 shares during the period. Finally, Poehling Capital Management INC. lifted its stake in Coterra Energy by 0.8% in the 1st quarter. Poehling Capital Management INC. now owns 70,632 shares of the company’s stock worth $1,969,000 after purchasing an additional 533 shares in the last quarter. 87.92% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on CTRA. Scotiabank raised their target price on shares of Coterra Energy from $31.00 to $35.00 and gave the company a “sector outperform” rating in a research note on Thursday, April 11th. Piper Sandler boosted their target price on Coterra Energy from $37.00 to $39.00 and gave the stock an “overweight” rating in a research report on Tuesday, May 14th. Barclays started coverage on shares of Coterra Energy in a research note on Wednesday, April 10th. They set an “overweight” rating and a $36.00 price target on the stock. Susquehanna upped their price objective on shares of Coterra Energy from $32.00 to $33.00 and gave the company a “positive” rating in a research note on Tuesday, May 7th. Finally, JPMorgan Chase & Co. lifted their target price on shares of Coterra Energy from $29.00 to $30.00 and gave the stock an “overweight” rating in a research report on Thursday, April 4th. Two equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. According to data from MarketBeat, Coterra Energy has an average rating of “Moderate Buy” and an average price target of $33.94.

Coterra Energy Stock Up 0.2 %

Shares of CTRA traded up $0.06 during trading hours on Friday, hitting $25.78. The company had a trading volume of 4,015,303 shares, compared to its average volume of 4,993,731. Coterra Energy Inc. has a 52-week low of $23.73 and a 52-week high of $29.89. The firm has a fifty day moving average price of $27.10 and a 200-day moving average price of $26.72. The stock has a market capitalization of $19.19 billion, a price-to-earnings ratio of 14.90, a P/E/G ratio of 1.52 and a beta of 0.24. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.46 and a current ratio of 1.49.

Coterra Energy (NYSE:CTRA) last issued its earnings results on Thursday, May 2nd. The company reported $0.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.41 by $0.09. The firm had revenue of $1.43 billion for the quarter, compared to the consensus estimate of $1.38 billion. Coterra Energy had a net margin of 23.34% and a return on equity of 10.75%. On average, equities research analysts forecast that Coterra Energy Inc. will post 2.01 EPS for the current fiscal year.

Coterra Energy Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, May 30th. Shareholders of record on Thursday, May 16th were issued a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a dividend yield of 3.26%. The ex-dividend date of this dividend was Wednesday, May 15th. Coterra Energy’s payout ratio is 48.55%.

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.