Howard Capital Management Inc. Grows Position in Coterra Energy Inc. $CTRA

Howard Capital Management Inc. raised its holdings in Coterra Energy Inc. (NYSE:CTRA) by 1.4% in the second quarter, Holdings Channel reports. The fund owned 112,381 shares of the company’s stock after buying an additional 1,522 shares during the period. Howard Capital Management Inc.’s holdings in Coterra Energy were worth $2,852,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. Cornerstone Planning Group LLC raised its holdings in shares of Coterra Energy by 175.6% during the 1st quarter. Cornerstone Planning Group LLC now owns 871 shares of the company’s stock worth $25,000 after acquiring an additional 555 shares during the period. Raleigh Capital Management Inc. increased its position in Coterra Energy by 463.5% during the first quarter. Raleigh Capital Management Inc. now owns 896 shares of the company’s stock worth $26,000 after purchasing an additional 737 shares during the last quarter. Bogart Wealth LLC acquired a new stake in Coterra Energy during the second quarter worth about $26,000. REAP Financial Group LLC raised its stake in Coterra Energy by 190.1% during the second quarter. REAP Financial Group LLC now owns 1,108 shares of the company’s stock worth $28,000 after purchasing an additional 726 shares during the period. Finally, Banque Cantonale Vaudoise acquired a new position in Coterra Energy in the 1st quarter valued at about $29,000. 87.92% of the stock is currently owned by hedge funds and other institutional investors.

Coterra Energy Stock Up 0.4%

NYSE:CTRA opened at $23.65 on Tuesday. Coterra Energy Inc. has a 52 week low of $22.33 and a 52 week high of $29.95. The stock’s fifty day moving average is $23.75 and its two-hundred day moving average is $24.49. The stock has a market capitalization of $18.05 billion, a price-to-earnings ratio of 11.32, a price-to-earnings-growth ratio of 0.36 and a beta of 0.29. The company has a quick ratio of 1.08, a current ratio of 1.13 and a debt-to-equity ratio of 0.29.

Coterra Energy (NYSE:CTRA) last posted its quarterly earnings data on Monday, August 4th. The company reported $0.48 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.50 by ($0.02). Coterra Energy had a net margin of 23.80% and a return on equity of 10.99%. The firm had revenue of $1.97 billion during the quarter, compared to analysts’ expectations of $1.78 billion. During the same quarter in the prior year, the firm posted $0.37 EPS. Coterra Energy’s quarterly revenue was up 54.6% compared to the same quarter last year. Research analysts anticipate that Coterra Energy Inc. will post 1.54 EPS for the current year.

Coterra Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 28th. Shareholders of record on Thursday, August 14th were paid 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 3.7%. Coterra Energy’s dividend payout ratio is 42.11%.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on CTRA. Piper Sandler cut their price target on shares of Coterra Energy from $39.00 to $38.00 and set an “overweight” rating for the company in a report on Tuesday, October 21st. Mizuho lowered their price objective on Coterra Energy from $36.00 to $33.00 and set an “outperform” rating for the company in a research report on Monday, September 15th. JPMorgan Chase & Co. raised their target price on Coterra Energy from $33.00 to $35.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 7th. The Goldman Sachs Group reduced their target price on Coterra Energy from $30.00 to $29.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 15th. Finally, UBS Group lowered their price target on Coterra Energy from $30.00 to $29.00 and set a “buy” rating for the company in a report on Tuesday, October 14th. Sixteen investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $32.60.

Coterra Energy Company 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.