Ieq Capital LLC Has $6.95 Million Stock Position in Coterra Energy Inc. $CTRA

Ieq Capital LLC lowered its stake in shares of Coterra Energy Inc. (NYSE:CTRA) by 5.7% during the 1st quarter, Holdings Channel.com reports. The firm owned 240,532 shares of the company’s stock after selling 14,586 shares during the quarter. Ieq Capital LLC’s holdings in Coterra Energy were worth $6,951,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Cornerstone Planning Group LLC increased its position in shares of Coterra Energy by 175.6% during the first quarter. Cornerstone Planning Group LLC now owns 871 shares of the company’s stock worth $25,000 after acquiring an additional 555 shares in the last quarter. Raleigh Capital Management Inc. increased its position in shares of 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 in the last quarter. Banque Cantonale Vaudoise bought a new stake in shares of Coterra Energy during the first quarter worth about $29,000. Wayfinding Financial LLC bought a new stake in shares of Coterra Energy during the first quarter worth about $34,000. Finally, Investors Research Corp increased its position in shares of Coterra Energy by 45.2% during the first quarter. Investors Research Corp now owns 1,311 shares of the company’s stock worth $38,000 after acquiring an additional 408 shares in the last quarter. 87.92% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts have recently commented on CTRA shares. Mizuho decreased their target price on shares of Coterra Energy from $38.00 to $36.00 and set an “outperform” rating for the company in a research report on Tuesday, May 13th. Barclays boosted their target price on shares of Coterra Energy from $35.00 to $37.00 and gave the stock an “overweight” rating in a research report on Monday, July 7th. Scotiabank reaffirmed an “outperform” rating on shares of Coterra Energy in a research report on Friday, July 11th. Pickering Energy Partners downgraded shares of Coterra Energy from an “outperform” rating to a “neutral” rating in a research report on Tuesday, May 20th. Finally, Raymond James Financial set a $38.00 price objective on shares of Coterra Energy and gave the stock an “outperform” rating in a research report on Friday, June 13th. Fourteen investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $33.61.

Coterra Energy Stock Up 1.0%

Coterra Energy stock opened at $24.38 on Friday. Coterra Energy Inc. has a twelve month low of $22.30 and a twelve month high of $29.95. The firm has a 50 day moving average price of $24.48 and a 200-day moving average price of $25.60. The company has a market capitalization of $18.60 billion, a P/E ratio of 11.66, a P/E/G ratio of 0.33 and a beta of 0.33. The company has a quick ratio of 1.08, a current ratio of 1.13 and a debt-to-equity ratio of 0.29.

Coterra Energy (NYSE:CTRA) last released its earnings results on Monday, August 4th. The company reported $0.48 earnings per share 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 company 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 company earned $0.37 earnings per share. The firm’s revenue was up 54.6% on a year-over-year basis. As a group, equities analysts predict that Coterra Energy Inc. will post 1.54 EPS for the current year.

Coterra Energy Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, August 28th. Stockholders of record on Thursday, August 14th were given a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a dividend yield of 3.6%. The ex-dividend date of this dividend was Thursday, August 14th. Coterra Energy’s dividend payout ratio is currently 42.11%.

About Coterra Energy

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.