Spirit of America Management Corp NY Has $1.43 Million Holdings in Coterra Energy Inc. $CTRA

Spirit of America Management Corp NY decreased its stake in Coterra Energy Inc. (NYSE:CTRA) by 28.0% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 60,500 shares of the company’s stock after selling 23,500 shares during the period. Spirit of America Management Corp NY’s holdings in Coterra Energy were worth $1,431,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Bogart Wealth LLC bought a new stake in Coterra Energy in the 2nd quarter valued at $26,000. REAP Financial Group LLC raised its position in shares of Coterra Energy by 190.1% during the second quarter. REAP Financial Group LLC now owns 1,108 shares of the company’s stock valued at $28,000 after buying an additional 726 shares during the last quarter. Tobam lifted its stake in shares of Coterra Energy by 50.9% in the second quarter. Tobam now owns 1,823 shares of the company’s stock valued at $46,000 after buying an additional 615 shares during the period. CYBER HORNET ETFs LLC acquired a new stake in Coterra Energy during the second quarter worth about $50,000. Finally, Quarry LP increased its stake in Coterra Energy by 69.2% during the first quarter. Quarry LP now owns 2,147 shares of the company’s stock valued at $62,000 after acquiring an additional 878 shares during the period. Institutional investors own 87.92% of the company’s stock.

Coterra Energy Stock Down 1.2%

Shares of NYSE:CTRA opened at $25.68 on Friday. The company’s fifty day moving average is $25.57 and its 200-day moving average is $24.82. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.98 and a current ratio of 1.02. Coterra Energy Inc. has a 52 week low of $22.33 and a 52 week high of $29.95. The company has a market capitalization of $19.55 billion, a PE ratio of 11.83, a P/E/G ratio of 0.43 and a beta of 0.33.

Coterra Energy (NYSE:CTRA) last announced its quarterly earnings results on Monday, November 3rd. The company reported $0.41 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.43 by ($0.02). The firm had revenue of $1.82 billion for the quarter, compared to the consensus estimate of $1.83 billion. Coterra Energy had a net margin of 23.25% and a return on equity of 11.23%. The company’s revenue for the quarter was up 33.7% on a year-over-year basis. During the same period in the prior year, the business earned $0.32 earnings per share. Equities research analysts predict that Coterra Energy Inc. will post 1.54 earnings per share for the current fiscal year.

Coterra Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, November 26th. Stockholders of record on Thursday, November 13th were issued a $0.22 dividend. This represents a $0.88 annualized dividend and a dividend yield of 3.4%. The ex-dividend date of this dividend was Thursday, November 13th. Coterra Energy’s payout ratio is presently 40.55%.

Analyst Upgrades and Downgrades

A number of brokerages have commented on CTRA. Weiss Ratings reiterated a “hold (c)” rating on shares of Coterra Energy in a research report on Monday. Morgan Stanley reduced their target price on Coterra Energy from $29.00 to $28.00 and set an “equal weight” rating for the company in a research report on Tuesday, October 14th. Wolfe Research lowered their price target on shares of Coterra Energy from $36.00 to $35.00 and set an “outperform” rating on the stock in a report on Tuesday, November 4th. Barclays dropped their price objective on shares of Coterra Energy from $37.00 to $35.00 and set an “overweight” rating for the company in a research note on Tuesday, October 7th. Finally, Roth Capital reaffirmed a “buy” rating and set a $27.00 price objective on shares of Coterra Energy in a report on Tuesday, November 4th. Seventeen investment analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $32.86.

Coterra Energy Profile

Coterra Energy (NYSE: CTRA) is an independent oil and natural gas exploration and production company focused on the development, production and optimization of onshore hydrocarbon resources in the United States. The company’s operations center on the exploration, drilling, completion and production of crude oil, natural gas and natural gas liquids (NGLs), with an emphasis on maximizing operational efficiency and capital discipline across its asset base.

Its business activities include identifying and developing resource-rich acreage, operating producing wells, managing reservoir performance and marketing produced hydrocarbons to a range of midstream and energy customers.