Benjamin F. Edwards & Company Inc. Grows Position in Coterra Energy Inc. (NYSE:CTRA)

Benjamin F. Edwards & Company Inc. raised its holdings in shares of Coterra Energy Inc. (NYSE:CTRA) by 12.7% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 88,734 shares of the company’s stock after purchasing an additional 10,000 shares during the quarter. Benjamin F. Edwards & Company Inc.’s holdings in Coterra Energy were worth $2,366,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in CTRA. Ieq Capital LLC increased its position in shares of Coterra Energy by 1.2% during the second quarter. Ieq Capital LLC now owns 213,213 shares of the company’s stock valued at $5,686,000 after buying an additional 2,451 shares during the period. Intech Investment Management LLC increased its position in shares of Coterra Energy by 189.7% during the second quarter. Intech Investment Management LLC now owns 160,497 shares of the company’s stock valued at $4,280,000 after buying an additional 105,095 shares during the period. XTX Topco Ltd bought a new position in shares of Coterra Energy in the second quarter worth approximately $1,736,000. Vanguard Personalized Indexing Management LLC increased its position in shares of Coterra Energy by 27.2% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 83,269 shares of the company’s stock worth $2,091,000 after purchasing an additional 17,782 shares during the last quarter. Finally, Meiji Yasuda Asset Management Co Ltd. increased its position in shares of Coterra Energy by 12.3% in the second quarter. Meiji Yasuda Asset Management Co Ltd. now owns 27,344 shares of the company’s stock worth $729,000 after purchasing an additional 2,994 shares during the last quarter. 87.92% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts recently weighed in on CTRA shares. JPMorgan Chase & Co. decreased their price objective on shares of Coterra Energy from $31.00 to $26.00 and set an “overweight” rating on the stock in a research report on Thursday, September 12th. Roth Mkm upgraded shares of Coterra Energy from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $25.00 to $29.00 in a research report on Tuesday, August 27th. Piper Sandler decreased their price objective on shares of Coterra Energy from $39.00 to $31.00 and set an “overweight” rating on the stock in a research report on Thursday, August 15th. BMO Capital Markets upgraded shares of Coterra Energy to a “hold” rating in a research report on Wednesday, July 3rd. Finally, UBS Group reduced their price target on shares of Coterra Energy from $34.00 to $31.00 and set a “buy” rating on the stock in a research report on Wednesday. Two investment analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $32.59.

Coterra Energy Stock Performance

NYSE:CTRA opened at $23.66 on Friday. The firm has a market cap of $17.61 billion, a PE ratio of 13.68, a price-to-earnings-growth ratio of 1.16 and a beta of 0.22. Coterra Energy Inc. has a fifty-two week low of $22.30 and a fifty-two week high of $29.89. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.38 and a current ratio of 1.40. The business has a 50 day moving average price of $24.42 and a 200-day moving average price of $26.39.

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

Coterra Energy Announces Dividend

The firm 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 payout ratio is 48.55%.

About Coterra Energy

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.