Bogart Wealth LLC Invests $26,000 in Coterra Energy Inc. $CTRA

Bogart Wealth LLC bought a new stake in Coterra Energy Inc. (NYSE:CTRA) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 1,022 shares of the company’s stock, valued at approximately $26,000.

Other hedge funds also recently modified their holdings of the company. Cornerstone Planning Group LLC increased its position in Coterra Energy by 175.6% in the first quarter. Cornerstone Planning Group LLC now owns 871 shares of the company’s stock worth $25,000 after buying an additional 555 shares during the last quarter. Raleigh Capital Management Inc. lifted its position in shares of Coterra Energy by 463.5% during the 1st quarter. Raleigh Capital Management Inc. now owns 896 shares of the company’s stock valued at $26,000 after buying an additional 737 shares during the last quarter. REAP Financial Group LLC boosted its position in Coterra Energy by 190.1% during the second quarter. REAP Financial Group LLC now owns 1,108 shares of the company’s stock worth $28,000 after purchasing an additional 726 shares during the period. Banque Cantonale Vaudoise purchased a new position in shares of Coterra Energy in the first quarter worth about $29,000. Finally, Wayfinding Financial LLC bought a new stake in shares of Coterra Energy in the first quarter valued at approximately $34,000. Institutional investors own 87.92% of the company’s stock.

Coterra Energy Trading Down 0.4%

Shares of CTRA opened at $23.33 on Wednesday. Coterra Energy Inc. has a 1-year low of $22.33 and a 1-year high of $29.95. The company has a market capitalization of $17.80 billion, a P/E ratio of 11.16, a P/E/G ratio of 0.35 and a beta of 0.29. 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 simple moving average is $23.78 and its 200 day simple moving average is $24.54.

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

Coterra Energy Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, August 28th. Shareholders of record on Thursday, August 14th were given a dividend of $0.22 per share. The ex-dividend date was Thursday, August 14th. This represents a $0.88 dividend on an annualized basis and a yield of 3.8%. Coterra Energy’s dividend payout ratio (DPR) is presently 42.11%.

Analysts Set New Price Targets

Several research analysts recently commented on the stock. Susquehanna cut their price objective on shares of Coterra Energy from $32.00 to $31.00 and set a “positive” rating for the company in a report on Monday. Roth Capital dropped their target price on Coterra Energy from $27.00 to $26.00 and set a “buy” rating on the stock in a research report on Wednesday, October 15th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Coterra Energy in a report on Wednesday, October 8th. Stephens decreased their price target on Coterra Energy from $34.00 to $33.00 and set an “overweight” rating on the stock in a research report on Tuesday. Finally, Morgan Stanley cut their price objective on shares of Coterra Energy from $29.00 to $28.00 and set an “equal weight” rating for the company in a research report on Tuesday, October 14th. Sixteen equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $32.60.

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.