Osaic Holdings Inc. Acquires 103,352 Shares of Coterra Energy Inc. $CTRA

Osaic Holdings Inc. boosted its stake in shares of Coterra Energy Inc. (NYSE:CTRA) by 79.9% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 232,742 shares of the company’s stock after buying an additional 103,352 shares during the quarter. Osaic Holdings Inc.’s holdings in Coterra Energy were worth $6,268,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in CTRA. Bogart Wealth LLC bought a new position in shares of Coterra Energy during the 2nd quarter valued at approximately $26,000. REAP Financial Group LLC boosted its position in Coterra Energy by 190.1% during the second quarter. REAP Financial Group LLC now owns 1,108 shares of the company’s stock worth $28,000 after purchasing an additional 726 shares during the period. Tobam increased its stake in shares of Coterra Energy by 50.9% in the second quarter. Tobam now owns 1,823 shares of the company’s stock worth $46,000 after purchasing an additional 615 shares in the last quarter. CYBER HORNET ETFs LLC bought a new stake in shares of Coterra Energy in the second quarter valued at approximately $50,000. Finally, MUFG Securities EMEA plc purchased a new stake in shares of Coterra Energy during the 2nd quarter valued at approximately $57,000. Institutional investors own 87.92% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the stock. Stephens reduced their price objective on shares of Coterra Energy from $34.00 to $33.00 and set an “overweight” rating for the company in a research note on Tuesday, October 21st. Johnson Rice reduced their price target on Coterra Energy from $38.00 to $37.00 in a research report on Friday, December 5th. Roth Capital reiterated a “buy” rating and set a $27.00 price objective on shares of Coterra Energy in a research note on Tuesday, November 4th. BMO Capital Markets cut their target price on Coterra Energy from $33.00 to $32.00 and set a “market perform” rating for the company in a research note on Monday, December 15th. Finally, Wolfe Research reduced their target price on Coterra Energy from $36.00 to $35.00 and set an “outperform” rating for the company in a report on Tuesday, November 4th. Seventeen investment analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company’s stock. According to MarketBeat, Coterra Energy currently has a consensus rating of “Moderate Buy” and a consensus target price of $32.86.

Coterra Energy Stock Up 0.6%

Shares of NYSE:CTRA opened at $25.54 on Tuesday. Coterra Energy Inc. has a 52-week low of $22.33 and a 52-week high of $29.95. The firm has a fifty day moving average of $25.41 and a 200 day moving average of $24.80. The firm has a market capitalization of $19.44 billion, a PE ratio of 11.77, a price-to-earnings-growth ratio of 0.43 and a beta of 0.33. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.98 and a current ratio of 1.02.

Coterra Energy (NYSE:CTRA) last released its quarterly earnings results on Monday, November 3rd. The company reported $0.41 earnings per share for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.02). Coterra Energy had a net margin of 23.25% and a return on equity of 11.23%. The firm had revenue of $1.82 billion for the quarter, compared to analysts’ expectations of $1.83 billion. During the same quarter in the previous year, the business earned $0.32 EPS. The company’s revenue for the quarter was up 33.7% on a year-over-year basis. As a group, research 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 given a $0.22 dividend. The ex-dividend date was Thursday, November 13th. This represents a $0.88 dividend on an annualized basis and a yield of 3.4%. Coterra Energy’s payout ratio is presently 40.55%.

Coterra Energy Profile

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.