Pekin Hardy Strauss Inc. Decreases Stock Holdings in Coterra Energy Inc. (NYSE:CTRA)

Pekin Hardy Strauss Inc. decreased its holdings in Coterra Energy Inc. (NYSE:CTRA) by 1.9% in the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 51,920 shares of the company’s stock after selling 1,000 shares during the quarter. Pekin Hardy Strauss Inc.’s holdings in Coterra Energy were worth $1,385,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of CTRA. Fifth Third Bancorp increased its position in shares of Coterra Energy by 0.6% during the 2nd quarter. Fifth Third Bancorp now owns 71,138 shares of the company’s stock valued at $1,897,000 after purchasing an additional 399 shares during the last quarter. TCW Group Inc. increased its position in shares of Coterra Energy by 4.0% during the 2nd quarter. TCW Group Inc. now owns 10,447 shares of the company’s stock valued at $279,000 after purchasing an additional 404 shares during the last quarter. Redwood Wealth Management Group LLC increased its position in shares of Coterra Energy by 2.3% during the 1st 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 last quarter. Cornercap Investment Counsel Inc. increased its position in shares of Coterra Energy by 0.7% during the 2nd quarter. Cornercap Investment Counsel Inc. now owns 66,280 shares of the company’s stock valued at $1,768,000 after purchasing an additional 436 shares during the last quarter. Finally, Quent Capital LLC increased its position in shares of Coterra Energy by 8.1% during the 1st quarter. Quent Capital LLC now owns 5,923 shares of the company’s stock valued at $165,000 after purchasing an additional 445 shares during the last quarter. Hedge funds and other institutional investors own 87.92% of the company’s stock.

Coterra Energy Stock Performance

NYSE:CTRA opened at $22.92 on Tuesday. The stock’s fifty day moving average is $24.70 and its 200 day moving average is $26.48. Coterra Energy Inc. has a fifty-two week low of $22.30 and a fifty-two week high of $29.89. The firm has a market capitalization of $17.06 billion, a PE ratio of 13.25, a PEG ratio of 1.16 and a beta of 0.22. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.38 and a current ratio of 1.40.

Coterra Energy (NYSE:CTRA) last released 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 10.48%. The company had revenue of $1.27 billion for the quarter, compared to analysts’ expectations of $1.32 billion. During the same quarter in the previous year, the company posted $0.38 EPS. The business’s quarterly revenue was up 7.3% on a year-over-year basis. On average, sell-side analysts anticipate that Coterra Energy Inc. will post 1.95 earnings per share for the current year.

Coterra Energy Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, August 29th. Investors of record on Thursday, August 15th were issued a dividend of $0.21 per share. The ex-dividend date of this dividend was Thursday, August 15th. This represents a $0.84 annualized dividend and a yield of 3.66%. Coterra Energy’s payout ratio is presently 48.55%.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on CTRA. BMO Capital Markets upgraded Coterra Energy to a “hold” rating in a research note on Wednesday, July 3rd. Citigroup boosted their price objective on Coterra Energy from $30.00 to $31.00 and gave the company a “buy” rating in a research note on Friday, May 24th. Wolfe Research began coverage on Coterra Energy in a research note on Thursday, July 18th. They set an “outperform” rating and a $35.00 price objective for the company. Piper Sandler cut their price objective on Coterra Energy from $39.00 to $31.00 and set an “overweight” rating for the company in a research note on Thursday, August 15th. Finally, JPMorgan Chase & Co. cut their price objective on Coterra Energy from $31.00 to $26.00 and set an “overweight” rating for the company in a research note on Thursday, September 12th. Two equities research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $32.76.

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.