Toroso Investments LLC Raises Position in Coterra Energy Inc. (NYSE:CTRA)

Toroso Investments LLC grew its holdings in shares of Coterra Energy Inc. (NYSE:CTRA – Get Rating) by 14.7% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 62,408 shares of the company’s stock after purchasing an additional 7,992 shares during the period. Toroso Investments LLC’s holdings in Coterra Energy were worth $1,630,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Guardian Wealth Advisors LLC purchased a new stake in shares of Coterra Energy during the 3rd quarter valued at $30,000. Achmea Investment Management B.V. purchased a new position in Coterra Energy in the 1st quarter worth $41,000. McIlrath & Eck LLC raised its stake in Coterra Energy by 703.5% in the 3rd quarter. McIlrath & Eck LLC now owns 1,599 shares of the company’s stock worth $42,000 after acquiring an additional 1,400 shares during the last quarter. TFC Financial Management raised its stake in Coterra Energy by 3,018.9% in the 3rd quarter. TFC Financial Management now owns 1,653 shares of the company’s stock worth $43,000 after acquiring an additional 1,600 shares during the last quarter. Finally, Carolinas Wealth Consulting LLC purchased a new position in Coterra Energy in the 1st quarter worth $46,000. Hedge funds and other institutional investors own 94.72% of the company’s stock.

Coterra Energy Price Performance

NYSE:CTRA opened at $23.19 on Friday. Coterra Energy Inc. has a 52 week low of $22.25 and a 52 week high of $36.55. The company has a quick ratio of 1.80, a current ratio of 1.85 and a debt-to-equity ratio of 0.17. The stock has a market capitalization of $17.82 billion, a PE ratio of 4.54, a price-to-earnings-growth ratio of 0.16 and a beta of 0.25. The stock’s 50-day moving average price is $24.78 and its 200-day moving average price is $26.67.

Coterra Energy (NYSE:CTRA – Get Rating) last posted its earnings results on Wednesday, February 22nd. The company reported $1.14 EPS for the quarter, beating analysts’ consensus estimates of $1.10 by $0.04. Coterra Energy had a return on equity of 31.29% and a net margin of 44.91%. The firm had revenue of $2.28 billion for the quarter, compared to analysts’ expectations of $2.15 billion. As a group, equities analysts expect that Coterra Energy Inc. will post 2.8 EPS for the current fiscal year.

Coterra Energy Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 30th. Investors of record on Thursday, March 16th will be issued a $0.57 dividend. This represents a $2.28 annualized dividend and a yield of 9.83%. The ex-dividend date of this dividend is Wednesday, March 15th. Coterra Energy’s payout ratio is 11.74%.

Analysts Set New Price Targets

A number of brokerages recently issued reports on CTRA. Tudor Pickering lowered Coterra Energy from a “buy” rating to a “hold” rating in a research note on Wednesday, November 30th. Tudor, Pickering, Holt & Co. lowered Coterra Energy from a “buy” rating to a “hold” rating in a research note on Wednesday, November 30th. Barclays raised their target price on Coterra Energy from $26.00 to $30.00 and gave the stock an “equal weight” rating in a research note on Friday. Bank of America upgraded Coterra Energy from an “underperform” rating to a “neutral” rating and reduced their target price for the stock from $30.00 to $29.00 in a research note on Friday, January 6th. Finally, Raymond James lowered Coterra Energy from an “outperform” rating to a “market perform” rating in a research note on Monday, February 6th. One research analyst has rated the stock with a sell rating, sixteen have issued a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $30.50.

About Coterra Energy

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Coterra Energy Inc is a diversified energy company, which engages in the exploration, development, and production of oil and natural gas properties. Its portfolio includes projects in the Permian Basin, the Marcellus Shale, and the Anadarko Basin. The company was renamed to Coterra Energy Inc on October 1, 2021 in connection with the merger involving Cabot Oil & Gas Corp.