Cascade Investment Advisors Inc. Has $1.33 Million Stake in Coterra Energy Inc. $CTRA

Cascade Investment Advisors Inc. increased its holdings in shares of Coterra Energy Inc. (NYSE:CTRA) by 1.4% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 52,550 shares of the company’s stock after acquiring an additional 715 shares during the period. Cascade Investment Advisors Inc.’s holdings in Coterra Energy were worth $1,334,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in CTRA. Wellington Management Group LLP boosted its holdings in Coterra Energy by 15.3% during the first quarter. Wellington Management Group LLP now owns 83,631,117 shares of the company’s stock worth $2,416,939,000 after purchasing an additional 11,102,350 shares during the last quarter. Vanguard Group Inc. boosted its holdings in Coterra Energy by 4.3% during the first quarter. Vanguard Group Inc. now owns 92,337,673 shares of the company’s stock worth $2,668,559,000 after purchasing an additional 3,818,700 shares during the last quarter. Pacer Advisors Inc. boosted its holdings in Coterra Energy by 5,145.4% during the first quarter. Pacer Advisors Inc. now owns 3,100,064 shares of the company’s stock worth $89,592,000 after purchasing an additional 3,040,963 shares during the last quarter. Truist Financial Corp boosted its holdings in Coterra Energy by 165.3% during the second quarter. Truist Financial Corp now owns 4,213,315 shares of the company’s stock worth $106,934,000 after purchasing an additional 2,625,126 shares during the last quarter. Finally, Nuveen LLC acquired a new stake in Coterra Energy in the first quarter valued at $64,173,000. Institutional investors and hedge funds own 87.92% of the company’s stock.

Coterra Energy Price Performance

NYSE:CTRA opened at $22.78 on Monday. Coterra Energy Inc. has a 52 week low of $22.46 and a 52 week high of $29.95. The firm has a market cap of $17.38 billion, a price-to-earnings ratio of 10.90, a P/E/G ratio of 0.32 and a beta of 0.29. The firm’s 50-day simple moving average is $23.90 and its 200 day simple moving average is $24.75. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.08 and a current ratio of 1.13.

Coterra Energy (NYSE:CTRA) last released 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 business had revenue of $1.97 billion for the quarter, compared to the consensus estimate of $1.78 billion. During the same period in the prior year, the business posted $0.37 earnings per share. Coterra Energy’s revenue was up 54.6% compared to the same quarter last year. As a group, sell-side analysts predict that Coterra Energy Inc. will post 1.54 earnings per share for the current year.

Coterra Energy Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, August 28th. Shareholders of record on Thursday, August 14th were issued a $0.22 dividend. This represents a $0.88 annualized dividend and a yield of 3.9%. The ex-dividend date of this dividend was Thursday, August 14th. Coterra Energy’s dividend payout ratio (DPR) is currently 42.11%.

Wall Street Analyst Weigh In

CTRA has been the subject of a number of recent analyst reports. The Goldman Sachs Group reiterated a “neutral” rating and issued a $31.00 price target on shares of Coterra Energy in a research note on Tuesday, July 1st. Raymond James Financial reiterated an “outperform” rating and issued a $34.00 price target (down previously from $38.00) on shares of Coterra Energy in a research note on Thursday, September 11th. Scotiabank cut their price target on shares of Coterra Energy from $35.00 to $32.00 and set a “sector outperform” rating for the company in a research note on Thursday. Barclays cut their price target on shares of Coterra Energy from $37.00 to $35.00 and set an “overweight” rating for the company in a research note on Tuesday, October 7th. Finally, Wells Fargo & Company raised their target price on shares of Coterra Energy from $32.00 to $33.00 and gave the stock an “overweight” rating in a research note on Thursday, August 14th. Fourteen investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat, Coterra Energy has a consensus rating of “Moderate Buy” and an average price target of $33.06.

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.