TD Asset Management Inc Acquires 8,493 Shares of Coterra Energy Inc. $CTRA

TD Asset Management Inc boosted its holdings in Coterra Energy Inc. (NYSE:CTRA) by 3.2% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 271,253 shares of the company’s stock after acquiring an additional 8,493 shares during the quarter. TD Asset Management Inc’s holdings in Coterra Energy were worth $6,884,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in CTRA. GAMMA Investing LLC increased its stake in Coterra Energy by 95.8% in the first quarter. GAMMA Investing LLC now owns 23,421 shares of the company’s stock valued at $677,000 after acquiring an additional 11,459 shares during the period. Wealth Enhancement Advisory Services LLC increased its stake in Coterra Energy by 2.1% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 51,425 shares of the company’s stock valued at $1,486,000 after acquiring an additional 1,037 shares during the period. Janney Montgomery Scott LLC increased its stake in Coterra Energy by 9.4% in the first quarter. Janney Montgomery Scott LLC now owns 251,726 shares of the company’s stock valued at $7,275,000 after acquiring an additional 21,733 shares during the period. State of Alaska Department of Revenue increased its stake in Coterra Energy by 2.8% in the first quarter. State of Alaska Department of Revenue now owns 86,307 shares of the company’s stock valued at $2,494,000 after acquiring an additional 2,325 shares during the period. Finally, Avior Wealth Management LLC increased its stake in Coterra Energy by 42.7% in the first quarter. Avior Wealth Management LLC now owns 17,007 shares of the company’s stock valued at $491,000 after acquiring an additional 5,092 shares during the period. Institutional investors own 87.92% of the company’s stock.

Analyst Upgrades and Downgrades

CTRA has been the topic of a number of analyst reports. Weiss Ratings reissued a “hold (c)” rating on shares of Coterra Energy in a research note on Wednesday, October 8th. The Goldman Sachs Group decreased their price objective on shares of Coterra Energy from $30.00 to $29.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 15th. Piper Sandler upped their price objective on shares of Coterra Energy from $37.00 to $39.00 and gave the stock an “overweight” rating in a research note on Thursday, August 14th. Morgan Stanley decreased their price objective on shares of Coterra Energy from $29.00 to $28.00 and set an “equal weight” rating on the stock in a research note on Tuesday, October 14th. Finally, JPMorgan Chase & Co. upped their price objective on shares of Coterra Energy from $33.00 to $35.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 7th. Sixteen equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, Coterra Energy has an average rating of “Moderate Buy” and a consensus price target of $32.50.

Coterra Energy Price Performance

Shares of CTRA stock opened at $22.82 on Monday. Coterra Energy Inc. has a 1 year low of $22.33 and a 1 year high of $29.95. The firm’s 50 day moving average is $23.80 and its 200-day moving average is $24.56. The firm has a market capitalization of $17.41 billion, a price-to-earnings ratio of 10.92, a PEG ratio of 0.34 and a beta of 0.29. The company has a current ratio of 1.13, a quick ratio of 1.08 and a debt-to-equity ratio of 0.29.

Coterra Energy (NYSE:CTRA) last announced its earnings results 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 return on equity of 10.99% and a net margin of 23.80%.The company had revenue of $1.97 billion for the quarter, compared to analyst estimates of $1.78 billion. During the same quarter in the previous year, the company posted $0.37 earnings per share. Coterra Energy’s revenue for the quarter was up 54.6% on a year-over-year basis. Sell-side analysts forecast that Coterra Energy Inc. will post 1.54 EPS for the current fiscal year.

Coterra Energy Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, August 28th. Stockholders of record on Thursday, August 14th were given a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a dividend yield of 3.9%. The ex-dividend date was Thursday, August 14th. Coterra Energy’s dividend payout ratio is presently 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.