Simplicity Wealth LLC Acquires 1,213 Shares of Coterra Energy Inc. $CTRA

Simplicity Wealth LLC grew its holdings in Coterra Energy Inc. (NYSE:CTRA) by 15.7% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 8,927 shares of the company’s stock after purchasing an additional 1,213 shares during the period. Simplicity Wealth LLC’s holdings in Coterra Energy were worth $227,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Cornerstone Planning Group LLC increased its holdings in shares of Coterra Energy by 175.6% in the 1st quarter. Cornerstone Planning Group LLC now owns 871 shares of the company’s stock worth $25,000 after purchasing an additional 555 shares in the last quarter. Raleigh Capital Management Inc. grew its holdings in shares of Coterra Energy by 463.5% in the first quarter. Raleigh Capital Management Inc. now owns 896 shares of the company’s stock worth $26,000 after acquiring an additional 737 shares during the period. Banque Cantonale Vaudoise bought a new stake in shares of Coterra Energy in the first quarter worth $29,000. Wayfinding Financial LLC bought a new stake in Coterra Energy during the first quarter valued at about $34,000. Finally, Catalyst Capital Advisors LLC bought a new stake in Coterra Energy during the first quarter valued at about $46,000. 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. Raymond James Financial reissued an “outperform” rating and set a $34.00 price target (down previously from $38.00) on shares of Coterra Energy in a report on Thursday, September 11th. Scotiabank reissued an “outperform” rating on shares of Coterra Energy in a report on Friday, July 11th. Piper Sandler boosted their price target on Coterra Energy from $37.00 to $39.00 and gave the company an “overweight” rating in a report on Thursday, August 14th. Mizuho cut their price target on Coterra Energy from $36.00 to $33.00 and set an “outperform” rating for the company in a report on Monday, September 15th. Finally, Barclays lowered their price objective on Coterra Energy from $37.00 to $35.00 and set an “overweight” rating on the stock in a research report on Tuesday. Fourteen investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $33.22.

Coterra Energy Price Performance

NYSE:CTRA opened at $24.24 on Thursday. The company has a current ratio of 1.13, a quick ratio of 1.08 and a debt-to-equity ratio of 0.29. The company has a market capitalization of $18.50 billion, a P/E ratio of 11.60, a P/E/G ratio of 0.35 and a beta of 0.29. Coterra Energy Inc. has a 12 month low of $22.46 and a 12 month high of $29.95. The business’s 50-day moving average is $23.94 and its 200 day moving average is $24.89.

Coterra Energy (NYSE:CTRA) last issued its quarterly earnings data on Monday, August 4th. The company reported $0.48 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 for the quarter, compared to analysts’ expectations of $1.78 billion. During the same quarter last year, the company earned $0.37 earnings per share. The company’s revenue for the quarter was up 54.6% on a year-over-year basis. On average, equities research analysts forecast that Coterra Energy Inc. will post 1.54 earnings per share for the current fiscal year.

Coterra Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 28th. Shareholders of record on Thursday, August 14th were given a dividend of $0.22 per share. The ex-dividend date was Thursday, August 14th. This represents a $0.88 dividend on an annualized basis and a yield of 3.6%. Coterra Energy’s dividend payout ratio is 42.11%.

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.