Sei Investments Co. Grows Position in Coterra Energy Inc. (NYSE:CTRA)

Sei Investments Co. grew its stake in Coterra Energy Inc. (NYSE:CTRA) by 10.1% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,955,907 shares of the company’s stock after acquiring an additional 179,240 shares during the quarter. Sei Investments Co. owned about 0.26% of Coterra Energy worth $52,164,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in CTRA. Fortitude Family Office LLC increased its position in shares of Coterra Energy by 154.9% during the second quarter. Fortitude Family Office LLC now owns 933 shares of the company’s stock worth $25,000 after purchasing an additional 567 shares in the last quarter. Larson Financial Group LLC raised its holdings in shares of Coterra Energy by 98.0% in the second quarter. Larson Financial Group LLC now owns 1,081 shares of the company’s stock worth $29,000 after buying an additional 535 shares during the last quarter. Central Pacific Bank Trust Division acquired a new stake in shares of Coterra Energy during the first quarter worth $44,000. Harbor Investment Advisory LLC increased its position in shares of Coterra Energy by 869.3% in the 1st quarter. Harbor Investment Advisory LLC now owns 1,609 shares of the company’s stock valued at $45,000 after acquiring an additional 1,443 shares during the period. Finally, Northwest Investment Counselors LLC purchased a new position in Coterra Energy in the 1st quarter worth $47,000. Hedge funds and other institutional investors own 87.92% of the company’s stock.

Coterra Energy Stock Performance

Shares of CTRA stock opened at $23.66 on Monday. The company has a market capitalization of $17.61 billion, a P/E ratio of 13.68, a P/E/G ratio of 1.16 and a beta of 0.22. Coterra Energy Inc. has a 12-month low of $22.30 and a 12-month high of $29.89. The business’s 50 day moving average is $24.42 and its two-hundred day moving average is $26.39. The company has a current ratio of 1.40, a quick ratio of 1.38 and a debt-to-equity ratio of 0.16.

Coterra Energy (NYSE:CTRA) last released its quarterly earnings results on Thursday, August 1st. The company reported $0.37 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.02). The company had revenue of $1.27 billion during the quarter, compared to analyst estimates of $1.32 billion. Coterra Energy had a net margin of 23.18% and a return on equity of 10.48%. Coterra Energy’s revenue was up 7.3% compared to the same quarter last year. During the same period in the prior year, the business posted $0.38 EPS. Analysts expect that Coterra Energy Inc. will post 1.95 EPS for the current fiscal year.

Coterra Energy Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, August 29th. Investors of record on Thursday, August 15th were paid a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a yield of 3.55%. The ex-dividend date of this dividend was Thursday, August 15th. Coterra Energy’s dividend payout ratio is presently 48.55%.

Analyst Ratings Changes

Several analysts have weighed in on CTRA shares. Roth Capital upgraded Coterra Energy from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, August 27th. Susquehanna cut their price target on shares of Coterra Energy from $33.00 to $30.00 and set a “positive” rating on the stock in a report on Wednesday, September 4th. Bank of America restated a “buy” rating and set a $34.00 price objective on shares of Coterra Energy in a research note on Friday, June 14th. BMO Capital Markets upgraded shares of Coterra Energy to a “hold” rating in a research note on Wednesday, July 3rd. Finally, Roth Mkm upgraded shares of Coterra Energy from a “neutral” rating to a “buy” rating and boosted their target price for the company from $25.00 to $29.00 in a research report on Tuesday, August 27th. Two investment analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $32.59.

Coterra Energy Profile

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. The company's properties include the Marcellus Shale with approximately 186,000 net acres in the dry gas window of the play located in Susquehanna County, Pennsylvania; Permian Basin properties with approximately 296,000 net acres located in west Texas and southeast New Mexico; and Anadarko Basin properties with approximately 182,000 net acres located in Oklahoma.