Tyche Wealth Partners LLC Boosts Stock Holdings in Coterra Energy Inc. (NYSE:CTRA)

Tyche Wealth Partners LLC boosted its stake in Coterra Energy Inc. (NYSE:CTRA) by 7.7% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 11,237 shares of the company’s stock after purchasing an additional 806 shares during the quarter. Tyche Wealth Partners LLC’s holdings in Coterra Energy were worth $325,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in CTRA. Private Trust Co. NA increased its position in Coterra Energy by 20.0% in the fourth quarter. Private Trust Co. NA now owns 2,140 shares of the company’s stock worth $55,000 after purchasing an additional 356 shares during the last quarter. Donald L. Hagan LLC grew its stake in shares of Coterra Energy by 1.1% in the 1st quarter. Donald L. Hagan LLC now owns 35,754 shares of the company’s stock worth $1,033,000 after buying an additional 401 shares in the last quarter. Investors Research Corp grew its stake in shares of Coterra Energy by 45.2% in the 1st quarter. Investors Research Corp now owns 1,311 shares of the company’s stock worth $38,000 after buying an additional 408 shares in the last quarter. New York Life Investment Management LLC increased its holdings in shares of Coterra Energy by 0.4% in the 4th quarter. New York Life Investment Management LLC now owns 99,584 shares of the company’s stock worth $2,543,000 after buying an additional 421 shares during the last quarter. Finally, Procyon Advisors LLC raised its position in shares of Coterra Energy by 3.6% during the 1st quarter. Procyon Advisors LLC now owns 13,460 shares of the company’s stock valued at $389,000 after buying an additional 469 shares in the last quarter. Institutional investors own 87.92% of the company’s stock.

Analysts Set New Price Targets

CTRA has been the subject of several recent research reports. Barclays dropped their price target on Coterra Energy from $37.00 to $35.00 and set an “overweight” rating for the company in a research report on Tuesday, May 6th. Scotiabank dropped their target price on Coterra Energy from $38.00 to $33.00 and set a “sector outperform” rating for the company in a report on Friday, April 11th. UBS Group decreased their price target on Coterra Energy from $32.00 to $30.00 and set a “buy” rating on the stock in a report on Friday, May 9th. Raymond James Financial set a $38.00 price target on Coterra Energy and gave the stock an “outperform” rating in a research report on Friday, June 13th. Finally, Mizuho cut their price objective on shares of Coterra Energy from $38.00 to $36.00 and set an “outperform” rating on the stock in a research report on Tuesday, May 13th. Four research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $33.30.

Coterra Energy Price Performance

Coterra Energy stock opened at $26.11 on Thursday. The company has a debt-to-equity ratio of 0.30, a current ratio of 0.90 and a quick ratio of 0.86. The stock has a market cap of $19.93 billion, a price-to-earnings ratio of 15.18, a price-to-earnings-growth ratio of 0.36 and a beta of 0.34. The firm has a 50-day moving average of $25.20 and a two-hundred day moving average of $26.39. Coterra Energy Inc. has a 1 year low of $22.30 and a 1 year high of $29.95.

Coterra Energy (NYSE:CTRA) last posted its quarterly earnings results on Monday, May 5th. The company reported $0.80 earnings per share for the quarter, beating the consensus estimate of $0.71 by $0.09. Coterra Energy had a net margin of 21.67% and a return on equity of 10.61%. The firm had revenue of $924.00 million during the quarter, compared to the consensus estimate of $1.92 billion. During the same quarter in the previous year, the firm posted $0.51 earnings per share. The company’s revenue was up 32.9% on a year-over-year basis. On average, research analysts forecast that Coterra Energy Inc. will post 1.54 earnings per share for the current year.

Coterra Energy Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, May 29th. Shareholders of record on Thursday, May 15th were issued a $0.22 dividend. This represents a $0.88 annualized dividend and a dividend yield of 3.37%. The ex-dividend date of this dividend was Thursday, May 15th. Coterra Energy’s dividend payout ratio is 51.16%.

About Coterra Energy

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.