Touchstone Capital Inc. Takes Position in Coterra Energy Inc. $CTRA

Touchstone Capital Inc. acquired a new position in shares of Coterra Energy Inc. (NYSE:CTRA) in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 362,399 shares of the company’s stock, valued at approximately $8,571,000. Coterra Energy comprises about 4.4% of Touchstone Capital Inc.’s investment portfolio, making the stock its 11th biggest position.

Several other institutional investors and hedge funds also recently modified their holdings of the business. Bogart Wealth LLC purchased a new position in Coterra Energy during the second quarter worth $26,000. REAP Financial Group LLC grew its holdings 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 purchasing an additional 726 shares during the period. Tobam increased its holdings in shares of Coterra Energy by 50.9% during the 2nd quarter. Tobam now owns 1,823 shares of the company’s stock worth $46,000 after buying an additional 615 shares during the last quarter. CYBER HORNET ETFs LLC purchased a new position in shares of Coterra Energy in the 2nd quarter worth about $50,000. Finally, Steigerwald Gordon & Koch Inc. acquired a new position in Coterra Energy during the third quarter valued at approximately $50,000. Hedge funds and other institutional investors own 87.92% of the company’s stock.

Analyst Ratings Changes

CTRA has been the subject of a number of recent research reports. Morgan Stanley lowered their target price on Coterra Energy from $29.00 to $28.00 and set an “equal weight” rating for the company in a research note on Tuesday, October 14th. BMO Capital Markets cut their price objective on Coterra Energy from $33.00 to $32.00 and set a “market perform” rating on the stock in a research note on Monday, December 15th. Siebert Williams Shank lowered their price objective on shares of Coterra Energy from $35.00 to $32.00 and set a “buy” rating for the company in a research report on Monday, October 13th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Coterra Energy in a report on Monday, December 29th. Finally, Raymond James Financial lifted their price target on shares of Coterra Energy from $28.00 to $31.00 and gave the stock an “outperform” rating in a research report on Monday, November 24th. Sixteen investment analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $32.52.

Coterra Energy Stock Up 1.1%

Shares of CTRA opened at $25.20 on Wednesday. The stock has a market cap of $19.19 billion, a price-to-earnings ratio of 11.61, a P/E/G ratio of 0.39 and a beta of 0.36. The company has a quick ratio of 0.98, a current ratio of 1.02 and a debt-to-equity ratio of 0.25. The company has a 50-day moving average price of $26.10 and a two-hundred day moving average price of $24.74. Coterra Energy Inc. has a 12 month low of $22.33 and a 12 month high of $29.95.

Coterra Energy (NYSE:CTRA) last released its quarterly earnings results on Monday, November 3rd. The company reported $0.41 EPS for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.02). The firm had revenue of $1.82 billion during the quarter, compared to analyst estimates of $1.83 billion. Coterra Energy had a net margin of 23.25% and a return on equity of 11.23%. Coterra Energy’s quarterly revenue was up 33.7% on a year-over-year basis. During the same quarter last year, the firm earned $0.32 earnings per share. Equities analysts predict that Coterra Energy Inc. will post 1.54 EPS for the current fiscal year.

Coterra Energy Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, November 26th. Stockholders of record on Thursday, November 13th were given a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a dividend yield of 3.5%. The ex-dividend date was Thursday, November 13th. Coterra Energy’s payout ratio is presently 40.55%.

About Coterra Energy

Coterra Energy (NYSE: CTRA) is an independent oil and natural gas exploration and production company focused on the development, production and optimization of onshore hydrocarbon resources in the United States. The company’s operations center on the exploration, drilling, completion and production of crude oil, natural gas and natural gas liquids (NGLs), with an emphasis on maximizing operational efficiency and capital discipline across its asset base.

Its business activities include identifying and developing resource-rich acreage, operating producing wells, managing reservoir performance and marketing produced hydrocarbons to a range of midstream and energy customers.