Corient Private Wealth LLC Has $5.10 Million Stock Position in Coterra Energy Inc. $CTRA

Corient Private Wealth LLC raised its stake in shares of Coterra Energy Inc. (NYSE:CTRA) by 13.5% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 200,860 shares of the company’s stock after acquiring an additional 23,883 shares during the quarter. Corient Private Wealth LLC’s holdings in Coterra Energy were worth $5,098,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently bought and sold shares of CTRA. Bogart Wealth LLC acquired a new stake in shares of Coterra Energy during the 2nd quarter valued at about $26,000. REAP Financial Group LLC grew its stake in shares of Coterra Energy by 190.1% during the second quarter. REAP Financial Group LLC now owns 1,108 shares of the company’s stock valued at $28,000 after purchasing an additional 726 shares during the last quarter. Tobam increased its stake in shares of Coterra Energy by 50.9% in the 2nd quarter. Tobam now owns 1,823 shares of the company’s stock valued at $46,000 after buying an additional 615 shares during the period. CYBER HORNET ETFs LLC bought a new stake in Coterra Energy during the 2nd quarter worth about $50,000. Finally, MUFG Securities EMEA plc acquired a new stake in Coterra Energy during the 2nd quarter worth $57,000. 87.92% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the stock. Mizuho cut their target price on shares of Coterra Energy from $36.00 to $33.00 and set an “outperform” rating on the stock in a report on Monday, September 15th. Weiss Ratings reissued a “hold (c)” rating on shares of Coterra Energy in a research report on Monday, December 15th. Siebert Williams Shank decreased their price target on Coterra Energy from $35.00 to $32.00 and set a “buy” rating for the company in a research note on Monday, October 13th. JPMorgan Chase & Co. dropped their target price on shares of Coterra Energy from $35.00 to $34.00 and set an “overweight” rating on the stock in a report on Wednesday, November 5th. Finally, Wolfe Research decreased their price objective on shares of Coterra Energy from $36.00 to $35.00 and set an “outperform” rating on the stock in a report on Tuesday, November 4th. Seventeen analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $32.86.

Coterra Energy Stock Performance

NYSE:CTRA opened at $25.40 on Friday. The stock’s 50-day simple moving average is $25.36 and its 200 day simple moving average is $24.80. The firm has a market capitalization of $19.34 billion, a PE ratio of 11.71, a price-to-earnings-growth ratio of 0.43 and a beta of 0.33. Coterra Energy Inc. has a twelve month low of $22.33 and a twelve month high of $29.95. The company has a quick ratio of 0.98, a current ratio of 1.02 and a debt-to-equity ratio of 0.25.

Coterra Energy (NYSE:CTRA) last released its quarterly earnings data on Monday, November 3rd. The company reported $0.41 earnings per share for the quarter, missing the consensus estimate of $0.43 by ($0.02). The firm had revenue of $1.82 billion for the quarter, compared to analyst estimates of $1.83 billion. Coterra Energy had a net margin of 23.25% and a return on equity of 11.23%. The company’s revenue was up 33.7% compared to the same quarter last year. During the same period last year, the business earned $0.32 EPS. On average, analysts anticipate that Coterra Energy Inc. will post 1.54 EPS for the current fiscal year.

Coterra Energy Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, November 26th. Investors of record on Thursday, November 13th were issued a $0.22 dividend. The ex-dividend date was Thursday, November 13th. This represents a $0.88 annualized dividend and a yield of 3.5%. Coterra Energy’s payout ratio is presently 40.55%.

About Coterra Energy

Coterra Energy (NYSE: CTRA) is an independent oil and natural gas exploration and production company focused on the development, production and optimization of onshore hydrocarbon resources in the United States. The company’s operations center on the exploration, drilling, completion and production of crude oil, natural gas and natural gas liquids (NGLs), with an emphasis on maximizing operational efficiency and capital discipline across its asset base.

Its business activities include identifying and developing resource-rich acreage, operating producing wells, managing reservoir performance and marketing produced hydrocarbons to a range of midstream and energy customers.