Park Place Capital Corp Sells 2,615 Shares of Coterra Energy Inc. (NYSE:CTRA)

Park Place Capital Corp decreased its holdings in shares of Coterra Energy Inc. (NYSE:CTRA) by 48.9% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,737 shares of the company’s stock after selling 2,615 shares during the quarter. Park Place Capital Corp’s holdings in Coterra Energy were worth $76,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Tennessee Valley Asset Management Partners acquired a new position in Coterra Energy in the 4th quarter valued at approximately $33,000. VisionPoint Advisory Group LLC raised its holdings in Coterra Energy by 133.3% in the 3rd quarter. VisionPoint Advisory Group LLC now owns 1,295 shares of the company’s stock valued at $35,000 after acquiring an additional 740 shares in the last quarter. Wetzel Investment Advisors Inc. acquired a new position in Coterra Energy in the 4th quarter valued at approximately $33,000. Harbor Investment Advisory LLC raised its holdings in 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 in the last quarter. Finally, Northwest Investment Counselors LLC acquired a new position in Coterra Energy in the 1st quarter valued at approximately $47,000. Institutional investors and hedge funds own 87.92% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have commented on CTRA shares. Barclays started coverage on Coterra Energy in a report on Wednesday, April 10th. They issued an “overweight” rating and a $36.00 price target for the company. Scotiabank increased their target price on Coterra Energy from $31.00 to $35.00 and gave the stock a “sector outperform” rating in a report on Thursday, April 11th. Bank of America reissued a “buy” rating and issued a $34.00 target price on shares of Coterra Energy in a report on Friday, June 14th. JPMorgan Chase & Co. increased their target price on Coterra Energy from $29.00 to $30.00 and gave the stock an “overweight” rating in a report on Thursday, April 4th. Finally, Stifel Nicolaus dropped their target price on Coterra Energy from $33.00 to $31.00 and set a “buy” rating for the company in a report on Friday, March 22nd. One equities research analyst has rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $33.93.

Coterra Energy Trading Down 0.4 %

CTRA stock opened at $26.55 on Tuesday. The business has a fifty day moving average price of $27.62 and a 200 day moving average price of $26.60. Coterra Energy Inc. has a fifty-two week low of $23.73 and a fifty-two week high of $29.89. The stock has a market capitalization of $19.76 billion, a price-to-earnings ratio of 15.35, a P/E/G ratio of 1.24 and a beta of 0.24. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.49 and a quick ratio of 1.46.

Coterra Energy (NYSE:CTRA) last released its quarterly earnings results on Thursday, May 2nd. The company reported $0.50 earnings per share for the quarter, beating analysts’ consensus estimates of $0.41 by $0.09. Coterra Energy had a return on equity of 10.75% and a net margin of 23.34%. The firm had revenue of $1.43 billion during the quarter, compared to analysts’ expectations of $1.38 billion. Analysts expect that Coterra Energy Inc. will post 2 EPS for the current fiscal year.

Coterra Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 30th. Investors of record on Thursday, May 16th were issued a dividend of $0.21 per share. The ex-dividend date was Wednesday, May 15th. This represents a $0.84 dividend on an annualized basis and a yield of 3.16%. Coterra Energy’s dividend payout ratio is 48.55%.

Coterra Energy Company 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.