Avidian Wealth Enterprises LLC Grows Stock Position in Coterra Energy Inc. (NYSE:CTRA)

Avidian Wealth Enterprises LLC grew its position in shares of Coterra Energy Inc. (NYSE:CTRA) by 6.7% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 8,358 shares of the company’s stock after buying an additional 523 shares during the period. Avidian Wealth Enterprises LLC’s holdings in Coterra Energy were worth $200,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in CTRA. Greenwood Capital Associates LLC raised its holdings in Coterra Energy by 1.5% during the 3rd quarter. Greenwood Capital Associates LLC now owns 67,337 shares of the company’s stock valued at $1,613,000 after acquiring an additional 1,013 shares during the period. QRG Capital Management Inc. grew its position in shares of Coterra Energy by 5.9% in the third quarter. QRG Capital Management Inc. now owns 61,649 shares of the company’s stock valued at $1,476,000 after purchasing an additional 3,410 shares in the last quarter. National Pension Service raised its stake in shares of Coterra Energy by 14.0% during the 3rd quarter. National Pension Service now owns 1,335,880 shares of the company’s stock valued at $31,994,000 after purchasing an additional 164,048 shares during the period. Janney Montgomery Scott LLC lifted its holdings in Coterra Energy by 0.5% during the 3rd quarter. Janney Montgomery Scott LLC now owns 230,579 shares of the company’s stock worth $5,522,000 after purchasing an additional 1,207 shares in the last quarter. Finally, Farther Finance Advisors LLC boosted its stake in Coterra Energy by 19.5% in the 3rd quarter. Farther Finance Advisors LLC now owns 8,155 shares of the company’s stock worth $195,000 after purchasing an additional 1,333 shares during the period. Institutional investors own 87.92% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on CTRA. Scotiabank decreased their price target on Coterra Energy from $35.00 to $32.00 and set a “sector outperform” rating on the stock in a research report on Thursday, October 10th. Wolfe Research started coverage on shares of Coterra Energy in a report on Thursday, July 18th. They issued an “outperform” rating and a $35.00 price target for the company. Susquehanna decreased 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. JPMorgan Chase & Co. lowered their price objective on Coterra Energy from $31.00 to $26.00 and set an “overweight” rating on the stock in a research report on Thursday, September 12th. Finally, Piper Sandler restated an “overweight” rating and set a $32.00 target price (up from $31.00) on shares of Coterra Energy in a research report on Monday, November 4th. Two analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $31.29.

Coterra Energy Price Performance

Shares of CTRA stock opened at $24.58 on Friday. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.38 and a current ratio of 1.61. Coterra Energy Inc. has a fifty-two week low of $22.30 and a fifty-two week high of $28.90. The firm has a market cap of $18.11 billion, a P/E ratio of 14.81, a P/E/G ratio of 1.42 and a beta of 0.22. The business’s 50 day moving average price is $23.77 and its 200-day moving average price is $25.58.

Coterra Energy (NYSE:CTRA) last issued its quarterly earnings data on Thursday, October 31st. The company reported $0.32 EPS for the quarter, missing the consensus estimate of $0.35 by ($0.03). The company had revenue of $1.36 billion during the quarter, compared to the consensus estimate of $1.28 billion. Coterra Energy had a return on equity of 9.38% and a net margin of 21.91%. The firm’s revenue for the quarter was up .2% compared to the same quarter last year. During the same quarter last year, the company posted $0.47 earnings per share. On average, equities research analysts anticipate that Coterra Energy Inc. will post 1.62 earnings per share for the current year.

Coterra Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 27th. Shareholders of record on Thursday, November 14th will be given a dividend of $0.21 per share. The ex-dividend date is Thursday, November 14th. This represents a $0.84 annualized dividend and a yield of 3.42%. Coterra Energy’s payout ratio is 50.60%.

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.