Coterra Energy Inc. $CTRA Stock Position Lifted by Oak Grove Capital LLC

Oak Grove Capital LLC lifted its holdings in Coterra Energy Inc. (NYSE:CTRA) by 194.1% in the 2nd quarter, HoldingsChannel reports. The firm owned 221,180 shares of the company’s stock after purchasing an additional 145,980 shares during the quarter. Coterra Energy makes up 0.9% of Oak Grove Capital LLC’s portfolio, making the stock its 22nd largest holding. Oak Grove Capital LLC’s holdings in Coterra Energy were worth $5,614,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Cornerstone Planning Group LLC grew its stake in shares of 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 purchasing an additional 555 shares in the last quarter. Raleigh Capital Management Inc. grew its holdings in Coterra Energy by 463.5% during the first 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. Bogart Wealth LLC acquired a new stake in Coterra Energy in the 2nd quarter valued at about $26,000. REAP Financial Group LLC lifted its holdings in Coterra Energy by 190.1% in the 2nd 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. Finally, Banque Cantonale Vaudoise bought a new position in shares of Coterra Energy during the 1st quarter valued at about $29,000. Institutional investors own 87.92% of the company’s stock.

Coterra Energy Stock Down 0.7%

Shares of Coterra Energy stock opened at $23.58 on Monday. The stock has a 50-day moving average price of $23.74 and a 200 day moving average price of $24.50. The company has a market cap of $18.00 billion, a P/E ratio of 11.28, a P/E/G ratio of 0.36 and a beta of 0.29. The company has a current ratio of 1.13, a quick ratio of 1.08 and a debt-to-equity ratio of 0.29. Coterra Energy Inc. has a 1 year low of $22.33 and a 1 year high of $29.95.

Coterra Energy (NYSE:CTRA) last announced 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). The business had revenue of $1.97 billion during the quarter, compared to analysts’ expectations of $1.78 billion. Coterra Energy had a return on equity of 10.99% and a net margin of 23.80%.The firm’s revenue was up 54.6% on a year-over-year basis. During the same period in the prior year, the company posted $0.37 earnings per share. As a group, analysts expect that Coterra Energy Inc. will post 1.54 EPS for the current fiscal year.

Coterra Energy Announces Dividend

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

Wall Street Analyst Weigh In

Several research firms have recently weighed in on CTRA. Scotiabank reduced their price objective on shares of 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. Mizuho reduced their price objective on shares of Coterra Energy from $36.00 to $33.00 and set an “outperform” rating for the company in a research report on Monday, September 15th. Stephens reduced their price objective on shares of Coterra Energy from $34.00 to $33.00 and set an “overweight” rating for the company in a research report on Tuesday, October 21st. UBS Group reduced their price objective on shares of Coterra Energy from $30.00 to $29.00 and set a “buy” rating for the company in a research report on Tuesday, October 14th. Finally, Susquehanna reduced their price objective on shares of Coterra Energy from $32.00 to $31.00 and set a “positive” rating for the company in a research report on Monday, October 20th. Sixteen investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Coterra Energy presently has a consensus rating of “Moderate Buy” and an average price target of $32.60.

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.