Choreo LLC Buys New Stake in Coterra Energy Inc. (NYSE:CTRA)

Choreo LLC purchased a new stake in shares of Coterra Energy Inc. (NYSE:CTRA) during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 23,095 shares of the company’s stock, valued at approximately $614,000.

Other institutional investors have also bought and sold shares of the company. Fortitude Family Office LLC boosted its holdings in shares of Coterra Energy by 154.9% in the 2nd quarter. Fortitude Family Office LLC now owns 933 shares of the company’s stock worth $25,000 after purchasing an additional 567 shares during the period. Larson Financial Group LLC boosted its stake in shares of Coterra Energy by 98.0% during the 2nd quarter. Larson Financial Group LLC now owns 1,081 shares of the company’s stock worth $29,000 after purchasing an additional 535 shares during the period. Central Pacific Bank Trust Division bought a new position in Coterra Energy during the 1st quarter valued at about $44,000. Harbor Investment Advisory LLC raised its position in Coterra Energy by 869.3% in the 1st quarter. Harbor Investment Advisory LLC now owns 1,609 shares of the company’s stock worth $45,000 after purchasing an additional 1,443 shares during the period. Finally, Northwest Investment Counselors LLC bought a new stake in Coterra Energy in the first quarter worth about $47,000. Institutional investors own 87.92% of the company’s stock.

Coterra Energy Stock Performance

Shares of NYSE CTRA opened at $22.78 on Friday. The business has a fifty day moving average price of $24.77 and a 200 day moving average price of $26.49. Coterra Energy Inc. has a 1-year low of $22.30 and a 1-year high of $29.89. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.40 and a quick ratio of 1.38. The stock has a market capitalization of $16.95 billion, a P/E ratio of 13.17, a price-to-earnings-growth ratio of 1.16 and a beta of 0.22.

Coterra Energy (NYSE:CTRA) last issued its quarterly earnings data on Thursday, August 1st. The company reported $0.37 EPS for the quarter, missing the consensus estimate of $0.39 by ($0.02). Coterra Energy had a net margin of 23.18% and a return on equity of 10.48%. The business had revenue of $1.27 billion for the quarter, compared to analysts’ expectations of $1.32 billion. During the same quarter in the prior year, the company posted $0.38 EPS. The business’s revenue for the quarter was up 7.3% on a year-over-year basis. Equities research analysts expect that Coterra Energy Inc. will post 1.95 EPS for the current fiscal year.

Coterra Energy Dividend Announcement

The business also recently announced 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 3.69%. The ex-dividend date was Thursday, August 15th. Coterra Energy’s dividend payout ratio (DPR) is presently 48.55%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the company. Bank of America reaffirmed a “buy” rating and set a $34.00 target price on shares of Coterra Energy in a research note on Friday, June 14th. Piper Sandler decreased their target price on Coterra Energy from $39.00 to $31.00 and set an “overweight” rating for the company in a research report on Thursday, August 15th. JPMorgan Chase & Co. reduced their price target on shares of Coterra Energy from $31.00 to $26.00 and set an “overweight” rating on the stock in a research note on Thursday. Roth Capital raised shares of Coterra Energy from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, August 27th. Finally, Citigroup raised their target price on shares of Coterra Energy from $30.00 to $31.00 and gave the stock a “buy” rating in a research report on Friday, May 24th. Two analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $32.88.

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.