Brookstone Capital Management increased its holdings in shares of Coterra Energy Inc. (NYSE:CTRA – Free Report) by 60.6% in the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 85,678 shares of the company’s stock after purchasing an additional 32,339 shares during the quarter. Brookstone Capital Management’s holdings in Coterra Energy were worth $2,200,000 as of its most recent filing with the SEC.
A number of other large investors have also bought and sold shares of CTRA. Adirondack Trust Co. bought a new position in shares of Coterra Energy during the 4th quarter worth approximately $25,000. Red Tortoise LLC bought a new position in shares of Coterra Energy during the 4th quarter worth approximately $25,000. Grey Fox Wealth Advisors LLC bought a new position in shares of Coterra Energy during the 4th quarter worth approximately $25,000. ICA Group Wealth Management LLC bought a new position in shares of Coterra Energy during the 4th quarter worth approximately $25,000. Finally, Accurate Wealth Management LLC acquired a new stake in shares of Coterra Energy in the 4th quarter valued at approximately $28,000. 92.59% of the stock is owned by institutional investors.
Wall Street Analysts Forecast Growth
Several equities research analysts have recently commented on CTRA shares. The Goldman Sachs Group increased their price objective on Coterra Energy from $27.00 to $30.00 and gave the company a “buy” rating in a report on Friday, March 10th. Stifel Nicolaus cut their price objective on Coterra Energy from $38.00 to $35.00 and set a “buy” rating for the company in a report on Wednesday, April 12th. UBS Group started coverage on Coterra Energy in a report on Wednesday, April 19th. They issued a “neutral” rating and a $27.00 price objective for the company. Barclays increased their price objective on Coterra Energy from $26.00 to $30.00 and gave the company an “equal weight” rating in a report on Friday, March 17th. Finally, Stephens initiated coverage on Coterra Energy in a report on Monday, April 24th. They issued an “overweight” rating and a $32.00 price objective for the company. Fifteen investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $29.88.
Coterra Energy Trading Up 0.7 %
Shares of Coterra Energy stock opened at $25.30 on Friday. The firm has a 50-day moving average of $24.67 and a 200-day moving average of $24.72. The stock has a market cap of $19.16 billion, a PE ratio of 4.83, a PEG ratio of 0.19 and a beta of 0.26. Coterra Energy Inc. has a 52-week low of $22.25 and a 52-week high of $32.47. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.61 and a current ratio of 1.66.
Coterra Energy (NYSE:CTRA – Free Report) last announced its earnings results on Thursday, May 4th. The company reported $0.85 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.69 by $0.16. The company had revenue of $1.78 billion during the quarter, compared to analysts’ expectations of $1.62 billion. Coterra Energy had a net margin of 45.19% and a return on equity of 29.48%. As a group, sell-side analysts forecast that Coterra Energy Inc. will post 2.42 EPS for the current year.
Coterra Energy Cuts Dividend
The business also recently declared a quarterly dividend, which was paid on Friday, June 9th. Investors of record on Friday, May 26th were paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 3.16%. The ex-dividend date was Thursday, May 25th. Coterra Energy’s dividend payout ratio (DPR) is presently 15.27%.
Coterra Energy Company 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 primarily focuses on the Marcellus Shale with approximately 183,000 net acres in the dry gas window of the play located in Susquehanna County, Pennsylvania.
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