Confluence Investment Management LLC Purchases 635 Shares of Coterra Energy Inc. (NYSE:CTRA)

Confluence Investment Management LLC increased its stake in Coterra Energy Inc. (NYSE:CTRA) by 3.3% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 19,820 shares of the company’s stock after purchasing an additional 635 shares during the quarter. Confluence Investment Management LLC’s holdings in Coterra Energy were worth $529,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Quent Capital LLC boosted its holdings in shares of Coterra Energy by 8.1% in the 1st quarter. Quent Capital LLC now owns 5,923 shares of the company’s stock worth $165,000 after purchasing an additional 445 shares in the last quarter. Abich Financial Wealth Management LLC raised its position in shares of Coterra Energy by 45.8% in the 1st quarter. Abich Financial Wealth Management LLC now owns 3,861 shares of the company’s stock worth $108,000 after acquiring an additional 1,212 shares in the last quarter. EverSource Wealth Advisors LLC raised its position in shares of Coterra Energy by 31.0% in the 1st quarter. EverSource Wealth Advisors LLC now owns 2,351 shares of the company’s stock worth $64,000 after acquiring an additional 557 shares in the last quarter. Verity Asset Management Inc. raised its position in shares of Coterra Energy by 5.2% in the 1st quarter. Verity Asset Management Inc. now owns 47,957 shares of the company’s stock worth $1,337,000 after acquiring an additional 2,359 shares in the last quarter. Finally, Cetera Advisors LLC grew its stake in shares of Coterra Energy by 88.0% in the 1st quarter. Cetera Advisors LLC now owns 58,676 shares of the company’s stock worth $1,636,000 after buying an additional 27,463 shares during the last quarter. 87.92% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

CTRA has been the topic of several recent research reports. Susquehanna upped their price target on Coterra Energy from $32.00 to $33.00 and gave the stock a “positive” rating in a research note on Tuesday, May 7th. Barclays started coverage on Coterra Energy in a report on Wednesday, April 10th. They issued an “overweight” rating and a $36.00 target price on the stock. Mizuho raised their price target on Coterra Energy from $37.00 to $41.00 and gave the company a “buy” rating in a report on Monday, May 13th. Bank of America restated a “buy” rating and set a $34.00 price objective on shares of Coterra Energy in a research report on Friday, June 14th. Finally, Scotiabank lifted their price target on Coterra Energy from $31.00 to $35.00 and gave the stock a “sector outperform” rating in a research report on Thursday, April 11th. Two investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $33.94.

Coterra Energy Trading Down 2.4 %

Shares of Coterra Energy stock traded down $0.58 on Monday, hitting $23.53. 2,058,146 shares of the company traded hands, compared to its average volume of 6,430,193. The stock’s 50 day moving average price is $26.87 and its 200-day moving average price is $26.74. The company has a current ratio of 1.49, a quick ratio of 1.46 and a debt-to-equity ratio of 0.16. Coterra Energy Inc. has a 52 week low of $23.22 and a 52 week high of $29.89. The company has a market cap of $17.51 billion, a PE ratio of 13.94, a PEG ratio of 1.49 and a beta of 0.24.

Coterra Energy (NYSE:CTRA) last posted its quarterly earnings results on Thursday, August 1st. The company reported $0.37 earnings per share for the quarter, missing the consensus estimate of $0.39 by ($0.02). Coterra Energy had a net margin of 23.18% and a return on equity of 10.49%. The company had revenue of $1.27 billion for the quarter, compared to the consensus estimate of $1.32 billion. During the same period in the prior year, the firm posted $0.38 EPS. The business’s revenue was up 7.3% on a year-over-year basis. Equities research analysts predict that Coterra Energy Inc. will post 2.02 EPS for the current year.

Coterra Energy Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, August 29th. Stockholders of record on Thursday, August 15th will be paid a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a dividend yield of 3.57%. The ex-dividend date of this dividend is Thursday, August 15th. Coterra Energy’s dividend payout ratio is presently 48.55%.

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.