Belpointe Asset Management LLC Buys 777 Shares of Coterra Energy Inc. $CTRA

Belpointe Asset Management LLC raised its stake in Coterra Energy Inc. (NYSE:CTRA) by 4.6% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 17,515 shares of the company’s stock after purchasing an additional 777 shares during the quarter. Belpointe Asset Management LLC’s holdings in Coterra Energy were worth $445,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in CTRA. Cornerstone Planning Group LLC boosted its position in Coterra Energy by 175.6% during the 1st quarter. Cornerstone Planning Group LLC now owns 871 shares of the company’s stock valued at $25,000 after buying an additional 555 shares during the period. Raleigh Capital Management Inc. increased its position in shares of Coterra Energy by 463.5% in the first quarter. Raleigh Capital Management Inc. now owns 896 shares of the company’s stock valued at $26,000 after acquiring an additional 737 shares during the period. Banque Cantonale Vaudoise bought a new position in shares of Coterra Energy during the first quarter valued at about $29,000. Wayfinding Financial LLC purchased a new stake in shares of Coterra Energy during the first quarter worth about $34,000. Finally, Catalyst Capital Advisors LLC bought a new stake in shares of Coterra Energy in the first quarter worth about $46,000. Hedge funds and other institutional investors own 87.92% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on CTRA shares. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Coterra Energy in a research report on Wednesday. Mizuho reduced their target price on Coterra Energy from $36.00 to $33.00 and set an “outperform” rating on the stock in a research note on Monday, September 15th. Scotiabank dropped their price target on Coterra Energy from $35.00 to $32.00 and set a “sector outperform” rating for the company in a research note on Thursday. Piper Sandler lifted their price target on shares of Coterra Energy from $37.00 to $39.00 and gave the company an “overweight” rating in a report on Thursday, August 14th. Finally, Barclays decreased their price objective on shares of Coterra Energy from $37.00 to $35.00 and set an “overweight” rating for the company in a report on Tuesday. Fourteen analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat, Coterra Energy currently has an average rating of “Moderate Buy” and a consensus target price of $33.06.

Coterra Energy Stock Down 2.6%

NYSE:CTRA opened at $23.61 on Friday. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.13 and a quick ratio of 1.08. The firm’s 50-day moving average price is $23.92 and its 200-day moving average price is $24.85. The company has a market capitalization of $18.01 billion, a PE ratio of 11.29, a P/E/G ratio of 0.34 and a beta of 0.29. Coterra Energy Inc. has a 1-year low of $22.46 and a 1-year high of $29.95.

Coterra Energy (NYSE:CTRA) last issued its quarterly earnings results on Monday, August 4th. The company reported $0.48 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.50 by ($0.02). Coterra Energy had a net margin of 23.80% and a return on equity of 10.99%. The business had revenue of $1.97 billion for the quarter, compared to analysts’ expectations of $1.78 billion. During the same period last year, the business earned $0.37 earnings per share. The company’s revenue was up 54.6% on a year-over-year basis. On average, equities analysts predict that Coterra Energy Inc. will post 1.54 EPS for the current fiscal year.

Coterra Energy Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, August 28th. Stockholders of record on Thursday, August 14th were issued a dividend of $0.22 per share. The ex-dividend date was Thursday, August 14th. This represents a $0.88 annualized dividend and a dividend yield of 3.7%. Coterra Energy’s dividend payout ratio (DPR) is presently 42.11%.

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.