Blume Capital Management Inc. Buys 13,201 Shares of Coterra Energy Inc. $CTRA

Blume Capital Management Inc. boosted its stake in Coterra Energy Inc. (NYSE:CTRA) by 165,012.5% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 13,209 shares of the company’s stock after purchasing an additional 13,201 shares during the quarter. Blume Capital Management Inc.’s holdings in Coterra Energy were worth $335,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Cornerstone Planning Group LLC increased its holdings in Coterra Energy by 175.6% in 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. lifted its holdings 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 worth $26,000 after acquiring an additional 737 shares during the period. Banque Cantonale Vaudoise acquired a new stake in shares of Coterra Energy during the 1st quarter worth approximately $29,000. Bogart Wealth LLC acquired a new stake in shares of Coterra Energy during the 2nd quarter worth approximately $26,000. Finally, REAP Financial Group LLC increased its stake in Coterra Energy by 190.1% in the second quarter. REAP Financial Group LLC now owns 1,108 shares of the company’s stock valued at $28,000 after acquiring an additional 726 shares during the last quarter. Institutional investors own 87.92% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the company. Raymond James Financial restated an “outperform” rating and set a $34.00 target price (down from $38.00) on shares of Coterra Energy in a research note on Thursday, September 11th. Stephens lowered their price target on Coterra Energy from $34.00 to $33.00 and set an “overweight” rating for the company in a report on Tuesday. Scotiabank dropped their price objective on Coterra Energy from $35.00 to $32.00 and set a “sector outperform” rating for the company in a research report on Thursday, October 9th. Barclays reduced their price objective on Coterra Energy from $37.00 to $35.00 and set an “overweight” rating on the stock in a research note on Tuesday, October 7th. Finally, Piper Sandler decreased their target price on Coterra Energy from $39.00 to $38.00 and set an “overweight” rating on the stock in a research report on Tuesday. Sixteen investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $32.60.

Coterra Energy Stock Down 0.4%

Shares of CTRA opened at $23.33 on Wednesday. Coterra Energy Inc. has a 52 week low of $22.33 and a 52 week high of $29.95. The stock has a fifty day moving average of $23.78 and a 200-day moving average of $24.54. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.08 and a current ratio of 1.13. The stock has a market capitalization of $17.80 billion, a price-to-earnings ratio of 11.16, a PEG ratio of 0.35 and a beta of 0.29.

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

Coterra Energy Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, August 28th. Investors of record on Thursday, August 14th were issued a $0.22 dividend. The ex-dividend date was Thursday, August 14th. This represents a $0.88 annualized dividend and a yield of 3.8%. Coterra Energy’s dividend payout ratio is presently 42.11%.

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.