BWM Planning LLC Makes New $1.26 Million Investment in Coterra Energy Inc. (NYSE:CTRA)

BWM Planning LLC bought a new stake in Coterra Energy Inc. (NYSE:CTRA) in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 52,487 shares of the company’s stock, valued at approximately $1,257,000.

A number of other large investors have also modified their holdings of the company. BNP PARIBAS ASSET MANAGEMENT Holding S.A. acquired a new position in Coterra Energy during the first quarter worth $656,000. Quadrature Capital Ltd raised its stake in Coterra Energy by 112.2% during the first quarter. Quadrature Capital Ltd now owns 72,395 shares of the company’s stock worth $2,018,000 after acquiring an additional 38,278 shares in the last quarter. Vanguard Group Inc. raised its stake in Coterra Energy by 0.5% during the fourth quarter. Vanguard Group Inc. now owns 87,927,114 shares of the company’s stock worth $2,243,900,000 after acquiring an additional 407,244 shares in the last quarter. CreativeOne Wealth LLC raised its stake in Coterra Energy by 130.3% during the first quarter. CreativeOne Wealth LLC now owns 56,860 shares of the company’s stock worth $1,586,000 after acquiring an additional 32,173 shares in the last quarter. Finally, Raymond James & Associates raised its stake in Coterra Energy by 5.0% during the second quarter. Raymond James & Associates now owns 1,187,663 shares of the company’s stock worth $31,675,000 after acquiring an additional 56,748 shares in the last quarter. 87.92% of the stock is currently owned by institutional investors and hedge funds.

Coterra Energy Stock Up 1.6 %

Coterra Energy stock traded up $0.38 during midday trading on Friday, reaching $24.89. The stock had a trading volume of 518,350 shares, compared to its average volume of 6,263,201. The firm’s fifty day simple moving average is $23.82 and its 200-day simple moving average is $26.15. Coterra Energy Inc. has a 1-year low of $22.30 and a 1-year high of $29.89. The stock has a market capitalization of $18.40 billion, a P/E ratio of 14.00, a price-to-earnings-growth ratio of 1.41 and a beta of 0.22. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.38 and a current ratio of 1.40.

Coterra Energy (NYSE:CTRA) last posted its quarterly earnings results on Thursday, August 1st. The company reported $0.37 earnings per share for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.02). The company had revenue of $1.27 billion during the quarter, compared to the consensus estimate of $1.32 billion. Coterra Energy had a net margin of 23.18% and a return on equity of 10.48%. The firm’s revenue for the quarter was up 7.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.38 earnings per share. As a group, analysts expect that Coterra Energy Inc. will post 1.72 EPS for the current fiscal year.

Coterra Energy Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 29th. Stockholders of record on Thursday, August 15th were paid a dividend of $0.21 per share. The ex-dividend date was Thursday, August 15th. This represents a $0.84 annualized dividend and a dividend yield of 3.37%. Coterra Energy’s dividend payout ratio is currently 48.00%.

Analyst Ratings Changes

CTRA has been the topic of several research analyst reports. Wolfe Research initiated coverage on Coterra Energy in a report on Thursday, July 18th. They set an “outperform” rating and a $35.00 target price on the stock. Susquehanna decreased their target price on Coterra Energy from $33.00 to $30.00 and set a “positive” rating on the stock in a report on Wednesday, September 4th. UBS Group decreased their target price on Coterra Energy from $34.00 to $31.00 and set a “buy” rating on the stock in a report on Wednesday, September 18th. Morgan Stanley decreased their price target on Coterra Energy from $29.00 to $27.00 and set an “equal weight” rating on the stock in a report on Monday, September 16th. Finally, Truist Financial decreased their price target on Coterra Energy from $34.00 to $31.00 and set a “buy” rating on the stock in a report on Monday, September 30th. Two research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $32.06.

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.