Centaurus Financial Inc. lifted its holdings in Coterra Energy Inc. (NYSE:CTRA – Get Rating) by 3.4% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 30,643 shares of the company’s stock after purchasing an additional 1,019 shares during the period. Centaurus Financial Inc.’s holdings in Coterra Energy were worth $800,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also modified their holdings of CTRA. Inspire Investing LLC bought a new position in Coterra Energy in the 3rd quarter worth $327,000. HBK Sorce Advisory LLC bought a new position in Coterra Energy in the 3rd quarter worth $57,000. Sawtooth Solutions LLC raised its holdings in Coterra Energy by 52.4% in the 3rd quarter. Sawtooth Solutions LLC now owns 29,397 shares of the company’s stock worth $768,000 after acquiring an additional 10,104 shares during the period. Rockefeller Capital Management L.P. raised its holdings in Coterra Energy by 912.6% in the 3rd quarter. Rockefeller Capital Management L.P. now owns 111,218 shares of the company’s stock worth $2,903,000 after acquiring an additional 100,235 shares during the period. Finally, Checchi Capital Advisers LLC bought a new position in Coterra Energy in the 2nd quarter worth $285,000. Institutional investors and hedge funds own 94.72% of the company’s stock.
Wall Street Analyst Weigh In
Several research firms have recently issued reports on CTRA. Roth Capital restated a “neutral” rating on shares of Coterra Energy in a report on Wednesday, February 22nd. The Goldman Sachs Group boosted their price objective on shares of Coterra Energy from $27.00 to $30.00 and gave the stock a “buy” rating in a report on Friday, March 10th. Mizuho dropped their price objective on shares of Coterra Energy from $40.00 to $38.00 in a report on Friday, March 10th. Bank of America upgraded shares of Coterra Energy from an “underperform” rating to a “neutral” rating and dropped their price objective for the stock from $30.00 to $29.00 in a report on Friday, January 6th. Finally, Tudor, Pickering, Holt & Co. downgraded shares of Coterra Energy from a “buy” rating to a “hold” rating in a report on Wednesday, November 30th. One analyst has rated the stock with a sell rating, sixteen have given a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $30.50.
Coterra Energy Price Performance
Coterra Energy (NYSE:CTRA – Get Rating) last released its quarterly earnings results on Wednesday, February 22nd. The company reported $1.14 EPS for the quarter, beating analysts’ consensus estimates of $1.10 by $0.04. The firm had revenue of $2.28 billion for the quarter, compared to analyst estimates of $2.15 billion. Coterra Energy had a net margin of 44.91% and a return on equity of 31.29%. On average, equities analysts anticipate that Coterra Energy Inc. will post 2.8 EPS for the current fiscal year.
Coterra Energy Cuts Dividend
The company also recently declared a quarterly dividend, which will be paid on Thursday, March 30th. Shareholders of record on Thursday, March 16th will be given a $0.57 dividend. The ex-dividend date of this dividend is Wednesday, March 15th. This represents a $2.28 dividend on an annualized basis and a yield of 9.83%. Coterra Energy’s dividend payout ratio (DPR) is presently 11.74%.
About Coterra Energy
Coterra Energy Inc is a diversified energy company, which engages in the exploration, development, and production of oil and natural gas properties. Its portfolio includes projects in the Permian Basin, the Marcellus Shale, and the Anadarko Basin. The company was renamed to Coterra Energy Inc on October 1, 2021 in connection with the merger involving Cabot Oil & Gas Corp.
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