Nicholas Hoffman & Company LLC. Purchases 4,021 Shares of Coterra Energy Inc. (NYSE:CTRA)

by · The Markets Daily

Nicholas Hoffman & Company LLC. raised its holdings in shares of Coterra Energy Inc. (NYSE:CTRA – Free Report) by 13.1% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 34,703 shares of the company’s stock after acquiring an additional 4,021 shares during the quarter. Nicholas Hoffman & Company LLC.’s holdings in Coterra Energy were worth $831,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Fortitude Family Office LLC raised its position in shares of Coterra Energy by 154.9% during the second quarter. Fortitude Family Office LLC now owns 933 shares of the company’s stock valued at $25,000 after buying an additional 567 shares during the last quarter. Larson Financial Group LLC lifted its position in shares of Coterra Energy by 98.0% in the second quarter. Larson Financial Group LLC now owns 1,081 shares of the company’s stock worth $29,000 after buying an additional 535 shares in the last quarter. Central Pacific Bank Trust Division bought a new position in Coterra Energy during the first quarter valued at approximately $44,000. Values First Advisors Inc. bought a new position in shares of Coterra Energy during the 3rd quarter valued at approximately $57,000. Finally, Tobam purchased a new position in shares of Coterra Energy in the third quarter valued at $63,000. Institutional investors own 87.92% of the company’s stock.

Coterra Energy Stock Up 0.2 %

Shares of Coterra Energy stock opened at $23.80 on Wednesday. Coterra Energy Inc. has a 1 year low of $22.30 and a 1 year high of $28.90. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.40 and a quick ratio of 1.38. The stock has a market cap of $17.59 billion, a price-to-earnings ratio of 13.76, a PEG ratio of 1.41 and a beta of 0.22. The firm’s 50-day moving average is $23.82 and its two-hundred day moving average is $25.78.

Coterra Energy (NYSE:CTRA – Get Free Report) last announced its earnings results on Thursday, August 1st. The company reported $0.37 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.39 by ($0.02). The company had revenue of $1.27 billion for the quarter, compared to the consensus estimate of $1.32 billion. Coterra Energy had a net margin of 23.18% and a return on equity of 10.48%. The firm’s revenue was up 7.3% compared to the same quarter last year. During the same period last year, the business posted $0.38 EPS. As a group, research analysts expect that Coterra Energy Inc. will post 1.72 earnings per share for the current fiscal year.

Coterra Energy Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, August 29th. Shareholders of record on Thursday, August 15th were given a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a dividend yield of 3.53%. The ex-dividend date was Thursday, August 15th. Coterra Energy’s payout ratio is 48.55%.

Wall Street Analyst Weigh In

CTRA has been the subject of a number of recent research reports. UBS Group dropped their price objective on shares of Coterra Energy from $34.00 to $31.00 and set a “buy” rating for the company in a research note on Wednesday, September 18th. Roth Mkm upgraded Coterra Energy from a “neutral” rating to a “buy” rating and increased their price target for the company from $25.00 to $29.00 in a report on Tuesday, August 27th. Scotiabank lowered their price target on Coterra Energy from $35.00 to $32.00 and set a “sector outperform” rating for the company in a research report on Thursday, October 10th. Truist Financial cut their price objective on shares of Coterra Energy from $34.00 to $31.00 and set a “buy” rating on the stock in a research report on Monday, September 30th. Finally, Morgan Stanley lowered their target price on shares of Coterra Energy from $29.00 to $27.00 and set an “equal weight” rating for the company in a report on Monday, September 16th. Two investment analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Coterra Energy has a consensus rating of “Moderate Buy” and an average price target of $32.06.

Get Our Latest Research Report on Coterra Energy

Coterra Energy Profile

(Free Report)

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.

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