Whalen Wealth Management Inc. Invests $506,000 in Coterra Energy Inc. $CTRA

Whalen Wealth Management Inc. purchased a new position in shares of Coterra Energy Inc. (NYSE:CTRA) in the 2nd quarter, HoldingsChannel.com reports. The firm purchased 19,936 shares of the company’s stock, valued at approximately $506,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of CTRA. GAMMA Investing LLC boosted its holdings 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 purchasing an additional 11,459 shares during the period. Wealth Enhancement Advisory Services LLC boosted its holdings 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 purchasing an additional 1,037 shares during the period. Spire Wealth Management boosted its holdings in Coterra Energy by 428.6% in the first quarter. Spire Wealth Management now owns 2,294 shares of the company’s stock valued at $66,000 after purchasing an additional 1,860 shares during the period. Allspring Global Investments Holdings LLC boosted its holdings in Coterra Energy by 7.6% in the first quarter. Allspring Global Investments Holdings LLC now owns 123,054 shares of the company’s stock valued at $3,577,000 after purchasing an additional 8,726 shares during the period. Finally, Avidian Wealth Enterprises LLC purchased a new position in Coterra Energy in the first quarter valued at $207,000. 87.92% of the stock is currently owned by hedge funds and other institutional investors.

Coterra Energy Stock Down 1.1%

Shares of NYSE CTRA opened at $23.40 on Wednesday. The company has a market capitalization of $17.86 billion, a price-to-earnings ratio of 11.20, a price-to-earnings-growth ratio of 0.36 and a beta of 0.29. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.13 and a quick ratio of 1.08. The business has a 50-day moving average of $23.76 and a two-hundred day moving average of $24.48. Coterra Energy Inc. has a 1 year low of $22.33 and a 1 year high of $29.95.

Coterra Energy (NYSE:CTRA) last announced its quarterly 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). The business had revenue of $1.97 billion for the quarter, compared to analysts’ expectations of $1.78 billion. Coterra Energy had a return on equity of 10.99% and a net margin of 23.80%.The firm’s quarterly revenue was up 54.6% on a year-over-year basis. During the same period last year, the firm earned $0.37 earnings per share. On average, analysts forecast that Coterra Energy Inc. will post 1.54 earnings per share for the current fiscal year.

Coterra Energy Announces Dividend

The company 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. The ex-dividend date was Thursday, August 14th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 3.8%. Coterra Energy’s payout ratio is 42.11%.

Analyst Ratings Changes

A number of research analysts recently issued reports on the company. Mizuho decreased their target price on Coterra Energy from $36.00 to $33.00 and set an “outperform” rating for the company in a report on Monday, September 15th. Raymond James Financial reiterated an “outperform” rating and issued a $34.00 target price (down from $38.00) on shares of Coterra Energy in a report on Thursday, September 11th. Stephens decreased their target price on Coterra Energy from $34.00 to $33.00 and set an “overweight” rating for the company in a report on Tuesday, October 21st. Zacks Research downgraded Coterra Energy from a “hold” rating to a “strong sell” rating in a report on Monday, October 13th. Finally, Susquehanna decreased their price target on Coterra Energy from $32.00 to $31.00 and set a “positive” rating for the company in a report on Monday, October 20th. Sixteen analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $32.60.

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.