15,866 Shares in Coterra Energy Inc. (NYSE:CTRA) Purchased by Forum Financial Management LP

Forum Financial Management LP acquired a new stake in shares of Coterra Energy Inc. (NYSE:CTRAGet Rating) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 15,866 shares of the company’s stock, valued at approximately $427,000.

Other large investors have also bought and sold shares of the company. Guggenheim Capital LLC purchased a new position in shares of Coterra Energy in the first quarter worth $7,509,000. Geneos Wealth Management Inc. bought a new stake in Coterra Energy in the 1st quarter worth about $191,000. California State Teachers Retirement System purchased a new position in Coterra Energy in the 1st quarter worth about $33,585,000. Goldman Sachs Group Inc. bought a new position in Coterra Energy during the 1st quarter valued at about $141,788,000. Finally, Goff John C purchased a new stake in shares of Coterra Energy during the 1st quarter valued at about $2,433,000. 93.39% of the stock is owned by hedge funds and other institutional investors.

Coterra Energy Price Performance

Coterra Energy stock opened at $30.69 on Tuesday. Coterra Energy Inc. has a 52-week low of $18.39 and a 52-week high of $36.55. The company has a quick ratio of 1.77, a current ratio of 1.80 and a debt-to-equity ratio of 0.24. The firm’s fifty day moving average is $28.88 and its 200 day moving average is $28.95. The company has a market cap of $24.42 billion, a price-to-earnings ratio of 8.53, a PEG ratio of 0.11 and a beta of 0.06.

Coterra Energy (NYSE:CTRAGet Rating) last announced its earnings results on Tuesday, August 2nd. The company reported $1.32 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.18 by $0.14. Coterra Energy had a net margin of 41.04% and a return on equity of 28.44%. The firm had revenue of $2.57 billion for the quarter, compared to analysts’ expectations of $2.25 billion. During the same period in the prior year, the company earned $0.25 EPS. Sell-side analysts forecast that Coterra Energy Inc. will post 4.94 EPS for the current fiscal year.

Coterra Energy Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, August 25th. Investors of record on Monday, August 15th were issued a dividend of $0.15 per share. The ex-dividend date of this dividend was Friday, August 12th. This represents a $0.60 annualized dividend and a yield of 1.96%. Coterra Energy’s payout ratio is presently 16.67%.

Analysts Set New Price Targets

A number of research analysts recently weighed in on CTRA shares. Morgan Stanley lowered their price objective on shares of Coterra Energy from $30.00 to $29.00 and set an “equal weight” rating on the stock in a research report on Tuesday, July 19th. Citigroup cut Coterra Energy from a “buy” rating to a “neutral” rating and lowered their price target for the company from $40.00 to $27.00 in a report on Friday, June 24th. Credit Suisse Group lifted their price objective on Coterra Energy from $30.00 to $35.00 and gave the stock a “neutral” rating in a report on Monday, June 13th. Barclays raised their target price on Coterra Energy from $37.00 to $43.00 and gave the stock an “equal weight” rating in a research report on Wednesday, August 31st. Finally, Wells Fargo & Company upped their price target on shares of Coterra Energy from $42.00 to $46.00 and gave the company an “overweight” rating in a research report on Monday, July 11th. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, Coterra Energy currently has an average rating of “Hold” and a consensus target price of $33.67.

About Coterra Energy

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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. It primarily focuses on the Marcellus Shale with approximately 177,000 net acres in the dry gas window of the play located in Susquehanna County, Pennsylvania.

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Institutional Ownership by Quarter for Coterra Energy (NYSE:CTRA)

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