Highland Capital Management LLC Takes Position in Coterra Energy Inc. (NYSE:CTRA)

Highland Capital Management LLC purchased a new position in Coterra Energy Inc. (NYSE:CTRAGet Rating) during the 2nd quarter, according to its most recent disclosure with the SEC. The fund purchased 27,310 shares of the company’s stock, valued at approximately $704,000.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Capital Analysts LLC bought a new stake in shares of Coterra Energy in the first quarter worth about $27,000. Larson Financial Group LLC bought a new position in shares of Coterra Energy in the 1st quarter valued at $28,000. BerganKDV Wealth Management LLC acquired a new stake in shares of Coterra Energy during the 1st quarter valued at $29,000. Eagle Bay Advisors LLC acquired a new stake in shares of Coterra Energy during the 1st quarter valued at $29,000. Finally, Joseph P. Lucia & Associates LLC acquired a new position in Coterra Energy during the 1st quarter worth about $32,000. 93.39% of the stock is currently owned by institutional investors.

Coterra Energy Trading Down 2.2 %

NYSE CTRA opened at $28.04 on Friday. The firm has a market cap of $22.31 billion, a P/E ratio of 7.79, a P/E/G ratio of 0.10 and a beta of 0.06. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.80 and a quick ratio of 1.77. The stock’s 50-day moving average is $29.41 and its 200-day moving average is $29.14. Coterra Energy Inc. has a one year low of $18.39 and a one year high of $36.55.

Coterra Energy (NYSE:CTRAGet Rating) last announced its quarterly earnings data on Tuesday, August 2nd. The company reported $1.32 earnings per share for the quarter, beating the consensus estimate of $1.18 by $0.14. Coterra Energy had a return on equity of 28.44% and a net margin of 41.04%. The firm had revenue of $2.57 billion during the quarter, compared to analysts’ expectations of $2.25 billion. During the same period in the previous year, the firm earned $0.25 EPS. Sell-side analysts anticipate that Coterra Energy Inc. will post 4.97 earnings per share for the current fiscal year.

Coterra Energy Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, August 25th. Shareholders of record on Monday, August 15th were given a dividend of $0.15 per share. The ex-dividend date was Friday, August 12th. This represents a $0.60 dividend on an annualized basis and a yield of 2.14%. Coterra Energy’s payout ratio is 16.67%.

Analyst Upgrades and Downgrades

CTRA has been the subject of a number of research analyst reports. Credit Suisse Group boosted their target price on Coterra Energy from $30.00 to $35.00 and gave the company a “neutral” rating in a research report on Monday, June 13th. Barclays increased their target price on Coterra Energy from $37.00 to $43.00 and gave the stock an “equal weight” rating in a research report on Wednesday, August 31st. MKM Partners reissued a “neutral” rating and issued a $26.00 target price on shares of Coterra Energy in a research note on Wednesday, July 20th. Citigroup increased their target price on shares of Coterra Energy from $27.00 to $30.00 and gave the stock a “neutral” rating in a report on Wednesday. Finally, Piper Sandler lowered their target price on shares of Coterra Energy from $34.00 to $33.00 and set a “neutral” rating for the company in a report on Friday, July 22nd. One analyst has rated the stock with a sell rating, eleven have issued a hold rating and six have assigned a buy rating to the company. According to MarketBeat, Coterra Energy currently has a consensus rating of “Hold” and an average price target of $33.87.

Coterra Energy Profile

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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. It primarily focuses on the Marcellus Shale with approximately 177,000 net acres in the dry gas window of the play located in Susquehanna County, Pennsylvania.

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Institutional Ownership by Quarter for Coterra Energy (NYSE:CTRA)

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