Touchstone Capital Inc. Increases Holdings in Coterra Energy Inc. (NYSE:CTRA)

Touchstone Capital Inc. boosted its position in Coterra Energy Inc. (NYSE:CTRA) by 12.4% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 279,463 shares of the company’s stock after acquiring an additional 30,872 shares during the quarter. Coterra Energy accounts for 10.2% of Touchstone Capital Inc.’s holdings, making the stock its largest holding. Touchstone Capital Inc.’s holdings in Coterra Energy were worth $6,693,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the company. BNP PARIBAS ASSET MANAGEMENT Holding S.A. acquired a new stake in shares of Coterra Energy during the 1st quarter valued at $656,000. Quadrature Capital Ltd boosted its holdings in shares of Coterra Energy by 112.2% during the 1st quarter. Quadrature Capital Ltd now owns 72,395 shares of the company’s stock valued at $2,018,000 after acquiring an additional 38,278 shares in the last quarter. Vanguard Group Inc. boosted its holdings in shares of Coterra Energy by 0.5% during the 4th quarter. Vanguard Group Inc. now owns 87,927,114 shares of the company’s stock valued at $2,243,900,000 after acquiring an additional 407,244 shares in the last quarter. CreativeOne Wealth LLC boosted its holdings in shares of Coterra Energy by 130.3% during the 1st quarter. CreativeOne Wealth LLC now owns 56,860 shares of the company’s stock valued at $1,586,000 after acquiring an additional 32,173 shares in the last quarter. Finally, Raymond James & Associates boosted its holdings in shares of Coterra Energy by 5.0% during the 2nd quarter. Raymond James & Associates now owns 1,187,663 shares of the company’s stock valued at $31,675,000 after acquiring an additional 56,748 shares in the last quarter. 87.92% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on CTRA. Susquehanna cut their price objective on Coterra Energy from $33.00 to $30.00 and set a “positive” rating on the stock in a report on Wednesday, September 4th. Wells Fargo & Company cut their price objective on Coterra Energy from $34.00 to $32.00 and set an “overweight” rating on the stock in a research note on Tuesday, October 1st. Roth Capital upgraded shares of Coterra Energy from a “hold” rating to a “strong-buy” rating in a report on Tuesday, August 27th. Piper Sandler decreased their price objective on shares of Coterra Energy from $39.00 to $31.00 and set an “overweight” rating for the company in a research report on Thursday, August 15th. Finally, Truist Financial dropped their target price on shares of Coterra Energy from $34.00 to $31.00 and set a “buy” rating on the stock in a report on Monday, September 30th. Two equities research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $32.06.

Coterra Energy Stock Down 0.6 %

NYSE CTRA traded down $0.14 during mid-day trading on Wednesday, hitting $23.95. The company’s stock had a trading volume of 892,462 shares, compared to its average volume of 6,247,224. The company has a current ratio of 1.40, a quick ratio of 1.38 and a debt-to-equity ratio of 0.16. The company’s 50 day simple moving average is $23.87 and its 200 day simple moving average is $26.05. Coterra Energy Inc. has a twelve month low of $22.30 and a twelve month high of $29.89. The firm has a market capitalization of $17.82 billion, a price-to-earnings ratio of 13.93, a PEG ratio of 1.41 and a beta of 0.22.

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

Coterra Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 29th. Stockholders of record on Thursday, August 15th were paid a $0.21 dividend. This represents a $0.84 annualized dividend and a dividend yield of 3.51%. The ex-dividend date of this dividend was Thursday, August 15th. Coterra Energy’s dividend payout ratio (DPR) is presently 48.55%.

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.