Exchange Traded Concepts LLC Buys 7,298 Shares of Coterra Energy Inc. (NYSE:CTRA)

Exchange Traded Concepts LLC lifted its stake in Coterra Energy Inc. (NYSE:CTRA) by 466.0% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 8,864 shares of the company’s stock after acquiring an additional 7,298 shares during the period. Exchange Traded Concepts LLC’s holdings in Coterra Energy were worth $212,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently bought and sold shares of CTRA. Fortitude Family Office LLC boosted its stake 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 valued at $25,000 after purchasing an additional 567 shares in the last quarter. Larson Financial Group LLC boosted its stake in Coterra Energy by 98.0% in the second quarter. Larson Financial Group LLC now owns 1,081 shares of the company’s stock valued at $29,000 after acquiring an additional 535 shares during the last quarter. Central Pacific Bank Trust Division bought a new stake in shares of Coterra Energy during the 1st quarter valued at $44,000. Harbor Investment Advisory LLC lifted its stake 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 purchasing an additional 1,443 shares during the period. Finally, Northwest Investment Counselors LLC acquired a new stake in shares of Coterra Energy during the first quarter worth $47,000. 87.92% of the stock is currently owned by institutional investors and hedge funds.

Coterra Energy Trading Up 0.1 %

Shares of NYSE:CTRA opened at $23.81 on Tuesday. The business’s 50 day simple moving average is $23.86 and its 200 day simple moving average is $25.93. Coterra Energy Inc. has a 1 year low of $22.30 and a 1 year high of $28.90. 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 company has a market capitalization of $17.72 billion, a P/E ratio of 13.76, a P/E/G ratio of 1.41 and a beta of 0.22.

Coterra Energy (NYSE:CTRA) last announced its quarterly earnings data 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 firm had revenue of $1.27 billion during the quarter, compared to the consensus estimate 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 was up 7.3% compared to the same quarter last year. During the same period last year, the business earned $0.38 earnings per share. On average, research analysts anticipate that Coterra Energy Inc. will post 1.72 EPS for the current fiscal year.

Coterra Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 29th. Stockholders of record on Thursday, August 15th were paid a $0.21 dividend. This represents a $0.84 annualized dividend and a dividend yield of 3.53%. The ex-dividend date was Thursday, August 15th. Coterra Energy’s dividend payout ratio is currently 48.55%.

Analysts Set New Price Targets

Several analysts have commented on CTRA shares. Scotiabank dropped their target price on shares of Coterra Energy from $35.00 to $32.00 and set a “sector outperform” rating on the stock in a report on Thursday, October 10th. Roth Mkm upgraded Coterra Energy from a “neutral” rating to a “buy” rating and upped their target price for the stock from $25.00 to $29.00 in a report on Tuesday, August 27th. BMO Capital Markets upgraded shares of Coterra Energy to a “hold” rating in a research note on Wednesday, July 3rd. Wolfe Research began coverage on Coterra Energy in a research note on Thursday, July 18th. They issued an “outperform” rating and a $35.00 price objective on the stock. Finally, Roth Capital raised Coterra Energy from a “hold” rating to a “strong-buy” rating in a report on Tuesday, August 27th. Two research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Coterra Energy currently has a consensus rating of “Moderate Buy” and a consensus price target of $32.06.

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.