Wealth Enhancement Advisory Services LLC Raises Stake in Coterra Energy Inc. (NYSE:CTRA)

Wealth Enhancement Advisory Services LLC raised its position in Coterra Energy Inc. (NYSE:CTRA) by 19.9% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 45,640 shares of the company’s stock after acquiring an additional 7,582 shares during the quarter. Wealth Enhancement Advisory Services LLC’s holdings in Coterra Energy were worth $1,093,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Fortitude Family Office LLC lifted its stake in Coterra Energy by 154.9% in the second quarter. Fortitude Family Office LLC now owns 933 shares of the company’s stock worth $25,000 after acquiring an additional 567 shares during the last quarter. Larson Financial Group LLC lifted its position in shares of Coterra Energy by 98.0% during the 2nd quarter. Larson Financial Group LLC now owns 1,081 shares of the company’s stock worth $29,000 after buying an additional 535 shares during the last quarter. Central Pacific Bank Trust Division purchased a new stake in shares of Coterra Energy during the 1st quarter worth approximately $44,000. Values First Advisors Inc. purchased a new stake in shares of Coterra Energy during the 3rd quarter worth approximately $57,000. Finally, Tobam purchased a new stake in shares of Coterra Energy during the 3rd quarter worth approximately $63,000. Hedge funds and other institutional investors own 87.92% of the company’s stock.

Coterra Energy Stock Performance

Shares of CTRA opened at $23.32 on Wednesday. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.38 and a current ratio of 1.61. The stock has a market capitalization of $17.24 billion, a P/E ratio of 14.05, a P/E/G ratio of 1.40 and a beta of 0.22. The company’s fifty day moving average is $23.75 and its two-hundred day moving average is $25.62. Coterra Energy Inc. has a 1 year low of $22.30 and a 1 year high of $28.90.

Coterra Energy (NYSE:CTRA) last posted its quarterly earnings results 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). Coterra Energy had a return on equity of 9.38% and a net margin of 21.91%. The company had revenue of $1.36 billion for the quarter, compared to analyst estimates of $1.28 billion. During the same period last year, the company earned $0.47 earnings per share. The business’s revenue for the quarter was up .2% compared to the same quarter last year. On average, sell-side analysts predict that Coterra Energy Inc. will post 1.62 earnings per share for the current year.

Coterra Energy Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 27th. Stockholders of record on Thursday, November 14th will be paid a dividend of $0.21 per share. The ex-dividend date of this dividend is Thursday, November 14th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 3.60%. Coterra Energy’s dividend payout ratio (DPR) is presently 50.60%.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on CTRA. Wolfe Research began coverage on shares of Coterra Energy in a research report on Thursday, July 18th. They set an “outperform” rating and a $35.00 price objective for the company. JPMorgan Chase & Co. reduced their price objective on shares of Coterra Energy from $31.00 to $26.00 and set an “overweight” rating for the company in a research report on Thursday, September 12th. Susquehanna reduced their price target on shares of Coterra Energy from $33.00 to $30.00 and set a “positive” rating for the company in a research report on Wednesday, September 4th. Piper Sandler reiterated an “overweight” rating and issued a $32.00 price target (up previously from $31.00) on shares of Coterra Energy in a research report on Monday. Finally, Roth Mkm upgraded shares of Coterra Energy from a “neutral” rating to a “buy” rating and upped their price target for the company from $25.00 to $29.00 in a research report on Tuesday, August 27th. Two 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. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $31.29.

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.