City Center Advisors LLC Invests $201,000 in Coterra Energy Inc. $CTRA

City Center Advisors LLC acquired a new position in Coterra Energy Inc. (NYSE:CTRA) during the second quarter, HoldingsChannel.com reports. The fund acquired 7,915 shares of the company’s stock, valued at approximately $201,000.

A number of other institutional investors have also made changes to their positions in the business. Voya Investment Management LLC lifted its position in shares of Coterra Energy by 75.7% in the first quarter. Voya Investment Management LLC now owns 1,349,693 shares of the company’s stock worth $39,006,000 after purchasing an additional 581,612 shares in the last quarter. Inspire Investing LLC lifted its position in shares of Coterra Energy by 7.8% in the first quarter. Inspire Investing LLC now owns 11,096 shares of the company’s stock worth $321,000 after purchasing an additional 804 shares in the last quarter. Strs Ohio bought a new stake in shares of Coterra Energy in the first quarter worth $1,600,000. Geneos Wealth Management Inc. raised its position in Coterra Energy by 29.2% during the first quarter. Geneos Wealth Management Inc. now owns 6,417 shares of the company’s stock worth $185,000 after acquiring an additional 1,449 shares in the last quarter. Finally, Focus Partners Wealth raised its position in Coterra Energy by 16.2% during the first quarter. Focus Partners Wealth now owns 712,564 shares of the company’s stock worth $20,593,000 after acquiring an additional 99,558 shares in the last quarter. Institutional investors own 87.92% of the company’s stock.

Coterra Energy Price Performance

NYSE:CTRA opened at $24.36 on Friday. Coterra Energy Inc. has a one year low of $22.46 and a one year high of $29.95. The company has a market cap of $18.59 billion, a P/E ratio of 11.66, a P/E/G ratio of 0.34 and a beta of 0.34. The firm’s fifty day moving average price is $24.14 and its two-hundred day moving average price is $25.30. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.13 and a quick ratio of 1.08.

Coterra Energy (NYSE:CTRA) last released its quarterly earnings data on Monday, August 4th. The company reported $0.48 EPS for the quarter, missing the consensus estimate of $0.50 by ($0.02). Coterra Energy had a net margin of 23.80% and a return on equity of 10.99%. The company had revenue of $1.97 billion during the quarter, compared to analyst estimates of $1.78 billion. During the same quarter in the prior year, the firm earned $0.37 earnings per share. Coterra Energy’s revenue for the quarter was up 54.6% on a year-over-year basis. Equities analysts expect that Coterra Energy Inc. will post 1.54 earnings per share for the current year.

Coterra Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 28th. Investors of record on Thursday, August 14th were paid a $0.22 dividend. The ex-dividend date was Thursday, August 14th. This represents a $0.88 annualized dividend and a dividend yield of 3.6%. Coterra Energy’s dividend payout ratio is 42.11%.

Wall Street Analyst Weigh In

Several analysts have issued reports on the stock. Piper Sandler upped their price target on shares of Coterra Energy from $37.00 to $39.00 and gave the stock an “overweight” rating in a research report on Thursday, August 14th. Pickering Energy Partners lowered shares of Coterra Energy from an “outperform” rating to a “neutral” rating in a research report on Tuesday, May 20th. Scotiabank reaffirmed an “outperform” rating on shares of Coterra Energy in a research report on Friday, July 11th. Wells Fargo & Company upped their price target on shares of Coterra Energy from $32.00 to $33.00 and gave the stock an “overweight” rating in a research report on Thursday, August 14th. Finally, Barclays upped their price target on shares of Coterra Energy from $35.00 to $37.00 and gave the stock an “overweight” rating in a research report on Monday, July 7th. Fourteen investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $33.39.

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.