Inspire Investing LLC Increases Stock Position in Coterra Energy Inc. (NYSE:CTRA)

Inspire Investing LLC increased its position in shares of Coterra Energy Inc. (NYSE:CTRA) by 170.1% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 47,788 shares of the company’s stock after buying an additional 30,096 shares during the period. Inspire Investing LLC’s holdings in Coterra Energy were worth $1,332,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Significant Wealth Partners LLC bought a new stake in shares of Coterra Energy in the fourth quarter worth $1,604,000. Robeco Institutional Asset Management B.V. boosted its holdings in Coterra Energy by 172.6% in the fourth quarter. Robeco Institutional Asset Management B.V. now owns 726,123 shares of the company’s stock worth $18,531,000 after purchasing an additional 459,713 shares during the period. KBC Group NV boosted its holdings in Coterra Energy by 240.1% in the fourth quarter. KBC Group NV now owns 863,965 shares of the company’s stock worth $22,049,000 after purchasing an additional 609,954 shares during the period. HITE Hedge Asset Management LLC acquired a new position in Coterra Energy in the fourth quarter worth $11,485,000. Finally, Private Advisor Group LLC boosted its holdings in Coterra Energy by 38.2% in the fourth quarter. Private Advisor Group LLC now owns 123,322 shares of the company’s stock worth $3,147,000 after purchasing an additional 34,110 shares during the period. Institutional investors and hedge funds own 87.92% of the company’s stock.

Coterra Energy Stock Down 0.0 %

Shares of NYSE CTRA traded down $0.01 during trading hours on Tuesday, hitting $27.24. The stock had a trading volume of 1,945,986 shares, compared to its average volume of 6,451,709. The company has a market capitalization of $20.27 billion, a P/E ratio of 15.66, a P/E/G ratio of 1.24 and a beta of 0.24. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.46 and a current ratio of 1.49. The firm’s 50-day moving average price is $27.39 and its two-hundred day moving average price is $26.68. Coterra Energy Inc. has a 52 week low of $23.73 and a 52 week high of $29.89.

Coterra Energy (NYSE:CTRA) last announced its earnings results on Thursday, May 2nd. The company reported $0.50 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.41 by $0.09. The firm had revenue of $1.43 billion during the quarter, compared to analysts’ expectations of $1.38 billion. Coterra Energy had a return on equity of 10.75% and a net margin of 23.34%. Analysts anticipate that Coterra Energy Inc. will post 2.03 EPS for the current fiscal year.

Coterra Energy Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 30th. Stockholders of record on Thursday, May 16th were issued a dividend of $0.21 per share. The ex-dividend date of this dividend was Wednesday, May 15th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 3.08%. Coterra Energy’s dividend payout ratio (DPR) is presently 48.55%.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the stock. Stifel Nicolaus decreased their price objective on shares of Coterra Energy from $33.00 to $31.00 and set a “buy” rating for the company in a report on Friday, March 22nd. Scotiabank boosted their price target on shares of Coterra Energy from $31.00 to $35.00 and gave the company a “sector outperform” rating in a report on Thursday, April 11th. Piper Sandler boosted their price target on shares of Coterra Energy from $37.00 to $39.00 and gave the stock an “overweight” rating in a research report on Tuesday, May 14th. Susquehanna boosted their price target on shares of Coterra Energy from $32.00 to $33.00 and gave the stock a “positive” rating in a research report on Tuesday, May 7th. Finally, Barclays began coverage on shares of Coterra Energy in a research report on Wednesday, April 10th. They issued an “overweight” rating and a $36.00 price target on the stock. Two analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $33.93.

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.