Coterra Energy Inc. (NYSE:CTRA) Shares Purchased by Hourglass Capital LLC

Hourglass Capital LLC grew its stake in shares of Coterra Energy Inc. (NYSE:CTRA) by 58.0% in the 3rd quarter, Holdings Channel.com reports. The fund owned 16,350 shares of the company’s stock after purchasing an additional 6,000 shares during the quarter. Hourglass Capital LLC’s holdings in Coterra Energy were worth $392,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the company. Bank of Montreal Can grew its position in Coterra Energy by 160.1% in the 2nd quarter. Bank of Montreal Can now owns 2,898,876 shares of the company’s stock worth $80,154,000 after purchasing an additional 1,784,192 shares during the last quarter. Marshall Wace LLP raised its position in shares of Coterra Energy by 5,325.5% during the 2nd quarter. Marshall Wace LLP now owns 1,148,569 shares of the company’s stock worth $30,632,000 after buying an additional 1,127,399 shares in the last quarter. Clearbridge Investments LLC bought a new position in shares of Coterra Energy in the first quarter valued at approximately $28,967,000. American Century Companies Inc. boosted its stake in Coterra Energy by 29.1% during the second quarter. American Century Companies Inc. now owns 4,498,227 shares of the company’s stock valued at $119,968,000 after buying an additional 1,013,107 shares in the last quarter. Finally, Earnest Partners LLC boosted its stake in shares of Coterra Energy by 37.5% during the 1st quarter. Earnest Partners LLC now owns 1,918,569 shares of the company’s stock worth $53,490,000 after acquiring an additional 523,480 shares in the last quarter. 87.92% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have commented on CTRA. Susquehanna upped their price objective on shares of Coterra Energy from $30.00 to $33.00 and gave the company a “positive” rating in a research note on Thursday. Mizuho boosted their target price on shares of Coterra Energy from $36.00 to $37.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. Roth Mkm upgraded shares of Coterra Energy from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $25.00 to $29.00 in a report on Tuesday, August 27th. Wells Fargo & Company reduced their price target on Coterra Energy from $34.00 to $32.00 and set an “overweight” rating for the company in a research report on Tuesday, October 1st. Finally, UBS Group decreased their price target on shares of Coterra Energy from $34.00 to $31.00 and set a “buy” rating for the company in a report on Wednesday, September 18th. Two research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $31.65.

Coterra Energy Stock Performance

Shares of NYSE CTRA opened at $25.61 on Thursday. The company has a current ratio of 1.61, a quick ratio of 1.56 and a debt-to-equity ratio of 0.16. The company has a market capitalization of $18.86 billion, a P/E ratio of 15.43, a P/E/G ratio of 1.64 and a beta of 0.22. Coterra Energy Inc. has a 12 month low of $22.30 and a 12 month high of $28.90. The stock has a 50 day moving average of $23.86 and a 200-day moving average of $25.50.

Coterra Energy (NYSE:CTRA) last released its quarterly earnings data on Thursday, October 31st. The company reported $0.32 EPS for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.03). The company had revenue of $1.36 billion for the quarter, compared to the consensus estimate of $1.28 billion. Coterra Energy had a return on equity of 9.38% and a net margin of 21.91%. The company’s revenue for the quarter was up .2% compared to the same quarter last year. During the same period last year, the firm earned $0.47 earnings per share. As a group, equities research analysts predict that Coterra Energy Inc. will post 1.53 EPS for the current year.

Coterra Energy Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 27th. Stockholders of record on Thursday, November 14th will be given a $0.21 dividend. This represents a $0.84 annualized dividend and a dividend yield of 3.28%. The ex-dividend date is Thursday, November 14th. Coterra Energy’s payout ratio is 50.60%.

About Coterra Energy

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.