MTM Investment Management LLC Invests $93,000 in Coterra Energy Inc. $CTRA

MTM Investment Management LLC bought a new stake in shares of Coterra Energy Inc. (NYSE:CTRA) during the 2nd quarter, Holdings Channel.com reports. The institutional investor bought 3,652 shares of the company’s stock, valued at approximately $93,000.

Several other institutional investors also recently bought and sold shares of the stock. Bogart Wealth LLC bought a new position in shares of Coterra Energy during the 2nd quarter valued at 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 valued at $28,000 after purchasing an additional 726 shares in the last quarter. Banque Cantonale Vaudoise bought a new stake in shares of Coterra Energy in the 1st quarter valued at approximately $29,000. Tobam boosted its holdings in shares of Coterra Energy by 50.9% in the 2nd quarter. Tobam now owns 1,823 shares of the company’s stock worth $46,000 after purchasing an additional 615 shares during the period. Finally, TCTC Holdings LLC increased its position in shares of Coterra Energy by 51.0% during the 1st quarter. TCTC Holdings LLC now owns 1,771 shares of the company’s stock valued at $51,000 after purchasing an additional 598 shares during the last quarter. 87.92% of the stock is owned by hedge funds and other institutional investors.

Coterra Energy Price Performance

CTRA opened at $26.34 on Monday. 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 business’s fifty day simple moving average is $24.12 and its 200-day simple moving average is $24.48. The company has a market capitalization of $20.06 billion, a price-to-earnings ratio of 12.60, a PEG ratio of 0.36 and a beta of 0.30. Coterra Energy Inc. has a 12-month low of $22.33 and a 12-month high of $29.95.

Coterra Energy (NYSE:CTRA) last issued its earnings results on Monday, November 3rd. The company reported $0.41 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.43 by ($0.02). Coterra Energy had a return on equity of 10.99% and a net margin of 23.80%.The business had revenue of $1.82 billion for the quarter, compared to the consensus estimate of $1.83 billion. During the same quarter in the previous year, the company earned $0.32 earnings per share. The firm’s revenue was up 33.7% on a year-over-year basis. On average, equities research analysts anticipate that Coterra Energy Inc. will post 1.54 earnings per share for the current fiscal year.

Coterra Energy Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 26th. Shareholders of record on Thursday, November 13th will be paid a $0.22 dividend. This represents a $0.88 annualized dividend and a yield of 3.3%. The ex-dividend date is Thursday, November 13th. Coterra Energy’s payout ratio is 40.55%.

Analyst Ratings Changes

CTRA has been the subject of a number of analyst reports. The Goldman Sachs Group lowered their price target on Coterra Energy from $30.00 to $29.00 and set a “neutral” rating for the company in a research report on Wednesday, October 15th. Zacks Research cut shares of Coterra Energy from a “hold” rating to a “strong sell” rating in a research note on Monday, October 13th. Mizuho reduced their price objective on shares of Coterra Energy from $36.00 to $33.00 and set an “outperform” rating on the stock in a research report on Monday, September 15th. Stephens decreased their price objective on shares of Coterra Energy from $34.00 to $33.00 and set an “overweight” rating for the company in a research note on Tuesday, October 21st. Finally, UBS Group cut their target price on Coterra Energy from $30.00 to $29.00 and set a “buy” rating on the stock in a research note on Tuesday, October 14th. Seventeen analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $32.43.

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.