Touchstone Capital Inc. Invests $8.57 Million in Coterra Energy Inc. $CTRA

Touchstone Capital Inc. acquired a new position in shares of Coterra Energy Inc. (NYSE:CTRA) in the 3rd quarter, HoldingsChannel.com reports. The institutional investor acquired 362,399 shares of the company’s stock, valued at approximately $8,571,000. Coterra Energy makes up 4.4% of Touchstone Capital Inc.’s investment portfolio, making the stock its 11th biggest holding.

Several other hedge funds and other institutional investors have also recently bought and sold shares of CTRA. Bogart Wealth LLC bought a new position in shares of Coterra Energy during the 2nd quarter worth about $26,000. REAP Financial Group LLC boosted its holdings in Coterra Energy by 190.1% in the second quarter. REAP Financial Group LLC now owns 1,108 shares of the company’s stock worth $28,000 after acquiring an additional 726 shares in the last quarter. Tobam grew its stake in Coterra Energy by 50.9% in the second quarter. Tobam now owns 1,823 shares of the company’s stock valued at $46,000 after acquiring an additional 615 shares during the period. CYBER HORNET ETFs LLC bought a new position in shares of Coterra Energy in the 2nd quarter worth $50,000. Finally, Steigerwald Gordon & Koch Inc. acquired a new stake in shares of Coterra Energy in the 3rd quarter worth about $50,000. 87.92% of the stock is owned by institutional investors.

Coterra Energy Stock Performance

Shares of NYSE CTRA opened at $25.20 on Wednesday. The company has a 50 day simple moving average of $26.10 and a two-hundred day simple moving average of $24.74. The stock has a market cap of $19.19 billion, a price-to-earnings ratio of 11.61, a PEG ratio of 0.39 and a beta of 0.36. The company has a current ratio of 1.02, a quick ratio of 0.98 and a debt-to-equity ratio of 0.25. Coterra Energy Inc. has a 12 month low of $22.33 and a 12 month high of $29.95.

Coterra Energy (NYSE:CTRA) last posted its earnings results on Monday, November 3rd. The company reported $0.41 EPS for the quarter, missing the consensus estimate of $0.43 by ($0.02). Coterra Energy had a return on equity of 11.23% and a net margin of 23.25%.The company had revenue of $1.82 billion for the quarter, compared to analyst estimates of $1.83 billion. During the same period last year, the business earned $0.32 earnings per share. The firm’s revenue was up 33.7% on a year-over-year basis. As a group, analysts predict that Coterra Energy Inc. will post 1.54 earnings per share for the current year.

Coterra Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, November 26th. Shareholders of record on Thursday, November 13th were paid a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a yield of 3.5%. The ex-dividend date of this dividend was Thursday, November 13th. Coterra Energy’s payout ratio is 40.55%.

Analysts Set New Price Targets

A number of analysts recently weighed in on CTRA shares. Wolfe Research decreased their target price on shares of Coterra Energy from $36.00 to $35.00 and set an “outperform” rating on the stock in a report on Tuesday, November 4th. Weiss Ratings reissued a “hold (c)” rating on shares of Coterra Energy in a report on Monday, December 29th. Raymond James Financial boosted their price objective on Coterra Energy from $28.00 to $31.00 and gave the company an “outperform” rating in a research report on Monday, November 24th. Zacks Research upgraded shares of Coterra Energy from a “strong sell” rating to a “hold” rating in a research report on Monday, December 1st. Finally, Morgan Stanley lowered their price objective on shares of Coterra Energy from $29.00 to $28.00 and set an “equal weight” rating for the company in a research report on Tuesday, October 14th. Sixteen research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $32.52.

Coterra Energy Company Profile

Coterra Energy (NYSE: CTRA) is an independent oil and natural gas exploration and production company focused on the development, production and optimization of onshore hydrocarbon resources in the United States. The company’s operations center on the exploration, drilling, completion and production of crude oil, natural gas and natural gas liquids (NGLs), with an emphasis on maximizing operational efficiency and capital discipline across its asset base.

Its business activities include identifying and developing resource-rich acreage, operating producing wells, managing reservoir performance and marketing produced hydrocarbons to a range of midstream and energy customers.