Freedom Investment Management Inc. Purchases 920 Shares of Coterra Energy Inc. $CTRA

Freedom Investment Management Inc. increased its position in shares of Coterra Energy Inc. (NYSE:CTRA) by 7.9% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 12,591 shares of the company’s stock after purchasing an additional 920 shares during the quarter. Freedom Investment Management Inc.’s holdings in Coterra Energy were worth $320,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Vanguard Group Inc. lifted its position in Coterra Energy by 4.3% during the first quarter. Vanguard Group Inc. now owns 92,337,673 shares of the company’s stock worth $2,668,559,000 after purchasing an additional 3,818,700 shares during the period. Wellington Management Group LLP lifted its position in Coterra Energy by 15.3% during the first quarter. Wellington Management Group LLP now owns 83,631,117 shares of the company’s stock worth $2,416,939,000 after purchasing an additional 11,102,350 shares during the period. Charles Schwab Investment Management Inc. lifted its position in Coterra Energy by 7.8% during the first quarter. Charles Schwab Investment Management Inc. now owns 25,304,940 shares of the company’s stock worth $731,313,000 after purchasing an additional 1,837,614 shares during the period. Victory Capital Management Inc. lifted its position in Coterra Energy by 5.7% during the first quarter. Victory Capital Management Inc. now owns 18,828,688 shares of the company’s stock worth $544,149,000 after purchasing an additional 1,019,995 shares during the period. Finally, Invesco Ltd. lifted its holdings in shares of Coterra Energy by 1.2% in the first quarter. Invesco Ltd. now owns 12,384,728 shares of the company’s stock worth $357,919,000 after acquiring an additional 152,244 shares during the last quarter. Institutional investors own 87.92% of the company’s stock.

Coterra Energy Stock Performance

Coterra Energy stock opened at $23.58 on Monday. The business has a 50 day moving average of $23.74 and a 200-day moving average of $24.50. Coterra Energy Inc. has a 1 year low of $22.33 and a 1 year high of $29.95. 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 company has a market capitalization of $18.00 billion, a P/E ratio of 11.28, a P/E/G ratio of 0.36 and a beta of 0.29.

Coterra Energy (NYSE:CTRA) last released 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 analyst estimates of $1.78 billion. During the same period in the prior year, the company earned $0.37 EPS. The business’s quarterly revenue was up 54.6% compared to the same quarter last year. On average, equities research analysts predict that Coterra Energy Inc. will post 1.54 earnings per share for the current year.

Coterra Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 28th. Stockholders of record on Thursday, August 14th were paid a $0.22 dividend. The ex-dividend date of this dividend was Thursday, August 14th. This represents a $0.88 annualized dividend and a dividend yield of 3.7%. Coterra Energy’s dividend payout ratio is currently 42.11%.

Analyst Ratings Changes

A number of research analysts have recently commented on the stock. UBS Group dropped their target price on shares of Coterra Energy from $30.00 to $29.00 and set a “buy” rating for the company in a report on Tuesday, October 14th. Morgan Stanley dropped their target price on shares of Coterra Energy from $29.00 to $28.00 and set an “equal weight” rating for the company in a report on Tuesday, October 14th. Zacks Research cut shares of Coterra Energy from a “hold” rating to a “strong sell” rating in a report on Monday, October 13th. Piper Sandler dropped their target price 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. Finally, Raymond James Financial reissued an “outperform” rating and issued a $34.00 target price (down previously from $38.00) on shares of Coterra Energy in a report on Thursday, September 11th. Sixteen research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Coterra Energy presently has an average 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.