Tidal Investments LLC Buys 65,368 Shares of Coterra Energy Inc. (NYSE:CTRA)

Tidal Investments LLC increased its holdings in shares of Coterra Energy Inc. (NYSE:CTRA) by 57.1% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 179,938 shares of the company’s stock after purchasing an additional 65,368 shares during the period. Tidal Investments LLC’s holdings in Coterra Energy were worth $5,016,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Significant Wealth Partners LLC bought a new position in Coterra Energy in the 4th quarter valued at $1,604,000. Robeco Institutional Asset Management B.V. grew its holdings in shares of Coterra Energy by 172.6% in the 4th quarter. Robeco Institutional Asset Management B.V. now owns 726,123 shares of the company’s stock valued at $18,531,000 after acquiring an additional 459,713 shares in the last quarter. KBC Group NV grew its holdings in shares of Coterra Energy by 240.1% in the 4th quarter. KBC Group NV now owns 863,965 shares of the company’s stock valued at $22,049,000 after acquiring an additional 609,954 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. bought a new position in shares of Coterra Energy in the 1st quarter valued at about $656,000. Finally, Quadrature Capital Ltd grew its holdings in Coterra Energy by 112.2% during the first quarter. Quadrature Capital Ltd now owns 72,395 shares of the company’s stock worth $2,018,000 after purchasing an additional 38,278 shares during the period. Institutional investors and hedge funds own 87.92% of the company’s stock.

Coterra Energy Stock Down 1.5 %

Shares of CTRA traded down $0.39 during mid-day trading on Thursday, hitting $25.41. 2,401,295 shares of the company’s stock were exchanged, compared to its average volume of 6,365,822. The stock’s 50-day moving average is $26.96 and its 200-day moving average is $26.73. The company has a market cap of $18.91 billion, a price-to-earnings ratio of 14.91, a P/E/G ratio of 1.51 and a beta of 0.24. Coterra Energy Inc. has a fifty-two week low of $23.73 and a fifty-two week high of $29.89. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.46 and a current ratio of 1.49.

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. Coterra Energy had a net margin of 23.34% and a return on equity of 10.75%. The business had revenue of $1.43 billion for the quarter, compared to analyst estimates of $1.38 billion. On average, sell-side analysts anticipate that Coterra Energy Inc. will post 2.01 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

CTRA has been the subject of several research analyst reports. Truist Financial lowered their price objective on shares of Coterra Energy from $35.00 to $34.00 and set a “buy” rating for the company in a research report on Monday, July 22nd. JPMorgan Chase & Co. boosted their price objective on shares of Coterra Energy from $29.00 to $30.00 and gave the stock an “overweight” rating in a research note on Thursday, April 4th. Susquehanna upped their price target on shares of Coterra Energy from $32.00 to $33.00 and gave the company a “positive” rating in a research report on Tuesday, May 7th. Citigroup upped their price target on shares of Coterra Energy from $30.00 to $31.00 and gave the company a “buy” rating in a research report on Friday, May 24th. Finally, Barclays started coverage on shares of Coterra Energy in a report on Wednesday, April 10th. They set an “overweight” rating and a $36.00 price objective on the stock. Two research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $33.94.

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.