Richard P Slaughter Associates Inc Boosts Stock Position in Coterra Energy Inc. (NYSE:CTRA)

Richard P Slaughter Associates Inc boosted its holdings in shares of Coterra Energy Inc. (NYSE:CTRA) by 3.6% in the second quarter, Holdings Channel.com reports. The fund owned 52,296 shares of the company’s stock after acquiring an additional 1,840 shares during the quarter. Richard P Slaughter Associates Inc’s holdings in Coterra Energy were worth $1,323,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Vanguard Group Inc. purchased a new stake in shares of Coterra Energy in the 1st quarter worth $2,472,575,000. State Street Corp purchased a new stake in shares of Coterra Energy in the 1st quarter worth $1,493,855,000. Charles Schwab Investment Management Inc. lifted its holdings in shares of Coterra Energy by 303.5% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 15,258,695 shares of the company’s stock worth $374,448,000 after buying an additional 11,477,201 shares during the period. Northern Trust Corp purchased a new stake in shares of Coterra Energy in the 1st quarter worth $300,998,000. Finally, Invesco Ltd. purchased a new stake in shares of Coterra Energy in the 1st quarter worth $169,781,000. Hedge funds and other institutional investors own 90.54% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently commented on CTRA. Truist Financial reduced their price target on Coterra Energy from $29.00 to $26.00 and set a “hold” rating for the company in a research report on Monday, July 24th. Piper Sandler raised Coterra Energy from a “neutral” rating to an “overweight” rating and boosted their price target for the stock from $30.00 to $35.00 in a research report on Monday, August 14th. UBS Group boosted their price target on Coterra Energy from $25.00 to $33.00 and gave the stock a “neutral” rating in a research report on Thursday, August 17th. JPMorgan Chase & Co. raised Coterra Energy from a “neutral” rating to an “overweight” rating and reduced their target price for the company from $33.00 to $31.00 in a research report on Tuesday, June 27th. Finally, Morgan Stanley upped their target price on Coterra Energy from $26.00 to $27.00 and gave the company an “equal weight” rating in a research report on Friday, August 18th. Thirteen research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $31.00.

Coterra Energy Stock Up 0.2 %

Shares of CTRA opened at $28.61 on Friday. Coterra Energy Inc. has a 52 week low of $22.25 and a 52 week high of $31.76. The company has a quick ratio of 1.67, a current ratio of 1.74 and a debt-to-equity ratio of 0.17. The company has a market capitalization of $21.60 billion, a price-to-earnings ratio of 7.16, a PEG ratio of 0.23 and a beta of 0.29. The stock’s 50-day moving average price is $27.46 and its 200-day moving average price is $25.70.

Coterra Energy (NYSE:CTRA) last issued its earnings results on Monday, August 7th. The company reported $0.38 EPS for the quarter, topping analysts’ consensus estimates of $0.36 by $0.02. Coterra Energy had a return on equity of 23.06% and a net margin of 40.12%. The firm had revenue of $1.19 billion for the quarter, compared to the consensus estimate of $1.28 billion. On average, sell-side analysts predict that Coterra Energy Inc. will post 2.25 EPS for the current year.

Coterra Energy Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, August 31st. Stockholders of record on Thursday, August 17th were paid a $0.20 dividend. The ex-dividend date of this dividend was Wednesday, August 16th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.80%. Coterra Energy’s payout ratio is 20.05%.

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 primarily focuses on the Marcellus Shale with approximately 183,000 net acres in the dry gas window of the play located in Susquehanna County, Pennsylvania.