Brighton Jones LLC Buys Shares of 24,530 Coterra Energy Inc. $CTRA

Brighton Jones LLC purchased a new position in shares of Coterra Energy Inc. (NYSE:CTRA) in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 24,530 shares of the company’s stock, valued at approximately $580,000.

Other hedge funds also recently modified their holdings of the company. Bogart Wealth LLC acquired a new stake in shares of Coterra Energy in the second quarter worth $26,000. REAP Financial Group LLC boosted its holdings in Coterra Energy by 190.1% in the 2nd 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 period. Tobam grew its position in Coterra Energy by 50.9% in the 2nd quarter. Tobam now owns 1,823 shares of the company’s stock worth $46,000 after purchasing an additional 615 shares during the last quarter. CYBER HORNET ETFs LLC bought a new position in shares of Coterra Energy during the 2nd quarter worth about $50,000. Finally, MUFG Securities EMEA plc bought a new position in shares of Coterra Energy during the 2nd quarter worth about $57,000. 87.92% of the stock is owned by institutional investors.

Coterra Energy Stock Down 1.2%

NYSE CTRA opened at $25.68 on Friday. The stock’s 50 day simple moving average is $25.57 and its 200 day simple moving average is $24.82. Coterra Energy Inc. has a one year low of $22.33 and a one year high of $29.95. The firm has a market cap of $19.55 billion, a PE ratio of 11.83, 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 current ratio of 1.02 and a quick ratio of 0.98.

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

Coterra Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, November 26th. Shareholders of record on Thursday, November 13th were issued a dividend of $0.22 per share. The ex-dividend date of this dividend was Thursday, November 13th. This represents a $0.88 dividend on an annualized basis and a yield of 3.4%. Coterra Energy’s dividend payout ratio is currently 40.55%.

Analysts Set New Price Targets

Several research firms recently weighed in on CTRA. William Blair started coverage on shares of Coterra Energy in a research note on Wednesday, November 26th. They issued an “outperform” rating and a $36.00 target price for the company. Siebert Williams Shank reduced their price objective on Coterra Energy from $35.00 to $32.00 and set a “buy” rating for the company in a research report on Monday, October 13th. Wolfe Research decreased their price objective on Coterra Energy from $36.00 to $35.00 and set an “outperform” rating on the stock in a report on Tuesday, November 4th. Johnson Rice cut their target price on Coterra Energy from $38.00 to $37.00 in a research note on Friday, December 5th. Finally, Mizuho decreased their price target on shares of Coterra Energy from $36.00 to $33.00 and set an “outperform” rating on the stock in a research note on Monday, September 15th. Seventeen investment analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company’s stock. According to MarketBeat, Coterra Energy presently has an average rating of “Moderate Buy” and a consensus target price of $32.86.

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.