Empirical Finance LLC Increases Position in Coterra Energy Inc. (NYSE:CTRA)

Empirical Finance LLC raised its holdings in shares of Coterra Energy Inc. (NYSE:CTRA) by 1.6% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 41,259 shares of the company’s stock after purchasing an additional 642 shares during the period. Empirical Finance LLC’s holdings in Coterra Energy were worth $988,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in CTRA. Fortitude Family Office LLC increased its position in Coterra Energy by 154.9% during the 2nd quarter. Fortitude Family Office LLC now owns 933 shares of the company’s stock valued at $25,000 after buying an additional 567 shares in the last quarter. Larson Financial Group LLC increased its holdings in shares of Coterra Energy by 98.0% during the second quarter. Larson Financial Group LLC now owns 1,081 shares of the company’s stock valued at $29,000 after acquiring an additional 535 shares in the last quarter. Values First Advisors Inc. bought a new position in shares of Coterra Energy during the third quarter valued at $57,000. Tobam bought a new position in Coterra Energy in the 3rd quarter worth about $63,000. Finally, EverSource Wealth Advisors LLC grew its position in Coterra Energy by 31.0% during the 1st quarter. EverSource Wealth Advisors LLC now owns 2,351 shares of the company’s stock valued at $64,000 after purchasing an additional 557 shares during the last quarter. 87.92% of the stock is currently owned by hedge funds and other institutional investors.

Coterra Energy Price Performance

NYSE CTRA opened at $25.58 on Friday. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.56 and a current ratio of 1.61. The business’s fifty day moving average is $23.95 and its 200 day moving average is $25.46. The company has a market capitalization of $18.84 billion, a PE ratio of 15.41, a price-to-earnings-growth ratio of 1.67 and a beta of 0.22. Coterra Energy Inc. has a fifty-two week low of $22.30 and a fifty-two week high of $28.90.

Coterra Energy (NYSE:CTRA) last posted its quarterly earnings data on Thursday, October 31st. The company reported $0.32 earnings per share for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.03). The company had revenue of $1.36 billion for the quarter, compared to analysts’ expectations of $1.28 billion. Coterra Energy had a net margin of 21.91% and a return on equity of 9.38%. The firm’s quarterly revenue was up .2% on a year-over-year basis. During the same period in the previous year, the firm earned $0.47 earnings per share. Sell-side analysts predict that Coterra Energy Inc. will post 1.53 earnings per share for the current year.

Coterra Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 27th. Stockholders of record on Thursday, November 14th will be paid a $0.21 dividend. The ex-dividend date is Thursday, November 14th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 3.28%. Coterra Energy’s dividend payout ratio (DPR) is presently 50.60%.

Wall Street Analysts Forecast Growth

CTRA has been the subject of several recent analyst reports. Piper Sandler lifted their target price on shares of Coterra Energy from $32.00 to $35.00 and gave the stock an “overweight” rating in a report on Thursday. Wells Fargo & Company upped their price objective on Coterra Energy from $32.00 to $35.00 and gave the company an “overweight” rating in a research report on Friday. UBS Group lifted their target price on Coterra Energy from $31.00 to $35.00 and gave the stock a “buy” rating in a report on Friday. Susquehanna upped their price target on Coterra Energy from $30.00 to $33.00 and gave the company a “positive” rating in a report on Thursday. Finally, Morgan Stanley lifted their price objective on Coterra Energy from $27.00 to $29.00 and gave the stock an “equal weight” rating in a report on Thursday. Two equities research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $32.41.

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.