Core Alternative Capital Has $3.69 Million Position in Coterra Energy Inc. $CTRA

Core Alternative Capital increased its stake in Coterra Energy Inc. (NYSE:CTRA) by 27.6% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 155,939 shares of the company’s stock after acquiring an additional 33,730 shares during the period. Core Alternative Capital’s holdings in Coterra Energy were worth $3,688,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Bogart Wealth LLC acquired a new stake in shares of Coterra Energy in the 2nd quarter valued at $26,000. REAP Financial Group LLC boosted its holdings in Coterra Energy by 190.1% in the second quarter. REAP Financial Group LLC now owns 1,108 shares of the company’s stock valued at $28,000 after acquiring an additional 726 shares during the last quarter. Tobam raised its holdings in Coterra Energy by 50.9% during 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 acquired a new position in Coterra Energy during the 2nd quarter valued at about $50,000. Finally, Steigerwald Gordon & Koch Inc. acquired a new position in Coterra Energy during the 3rd quarter valued at about $50,000. 87.92% of the stock is currently owned by institutional investors.

Coterra Energy Price Performance

Shares of CTRA stock opened at $27.53 on Wednesday. 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 Inc. has a 12-month low of $22.33 and a 12-month high of $29.82. The firm has a fifty day moving average of $26.15 and a 200-day moving average of $24.83. The firm has a market capitalization of $20.96 billion, a price-to-earnings ratio of 12.69, a price-to-earnings-growth ratio of 0.62 and a beta of 0.36.

Coterra Energy (NYSE:CTRA) last posted its earnings results 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). Coterra Energy had a return on equity of 11.23% and a net margin of 23.25%.The business had revenue of $1.82 billion for the quarter, compared to the consensus estimate of $1.83 billion. During the same quarter in the prior year, the firm posted $0.32 earnings per share. The business’s revenue was up 33.7% on a year-over-year basis. On average, equities research analysts forecast that Coterra Energy Inc. will post 1.54 earnings per share for the current year.

Coterra Energy Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, November 26th. Investors of record on Thursday, November 13th were paid a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a yield of 3.2%. The ex-dividend date of this dividend was Thursday, November 13th. Coterra Energy’s dividend payout ratio is presently 40.55%.

Wall Street Analyst Weigh In

CTRA has been the subject of several analyst reports. William Blair began coverage on shares of Coterra Energy in a research report on Wednesday, November 26th. They set an “outperform” rating and a $36.00 price target for the company. Morgan Stanley dropped their target price on shares of Coterra Energy from $29.00 to $28.00 and set an “equal weight” rating for the company in a research report on Tuesday, October 14th. Siebert Williams Shank raised their price target on Coterra Energy from $32.00 to $35.00 and gave the stock a “buy” rating in a research report on Monday. UBS Group upped their price objective on Coterra Energy from $32.00 to $33.00 and gave the company a “buy” rating in a report on Friday, December 12th. Finally, Raymond James Financial increased their target price on Coterra Energy from $28.00 to $31.00 and gave the company an “outperform” rating in a research note on Monday, November 24th. Sixteen research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $32.81.

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.