As of the first quarter of 2023, Chelsea Counsel Co. has increased its stake in Coterra Energy Inc. (NYSE: CTRA) by 51.1%, according to their recent disclosure with the Securities and Exchange Commission (SEC). The investment firm now owns 77,382 shares of the company’s stock, having acquired an additional 26,160 shares during this period. This purchase has pushed Coterra Energy to become the 28th largest holding in Chelsea Counsel Co.’s investment portfolio, accounting for approximately 0.9% of its total investments. At the end of the reporting period, Chelsea Counsel Co.’s holdings in Coterra Energy were valued at $1,899,000.
On August 7th, Coterra Energy released its latest earnings results for the quarter. The company reported earnings per share (EPS) of $0.38, surpassing analysts’ consensus estimate of $0.36 by $0.02. However, the company’s revenue for the quarter stood at $1.19 billion, falling short of analysts’ expectations of $1.28 billion.
Despite missing revenue expectations, Coterra Energy demonstrated a commendable return on equity (ROE) of 23.06% and an impressive net margin of 40.12%. These figures indicate a strong financial performance and highlight the company’s ability to generate profits and efficiency in managing its resources.
Looking ahead to the current year, analysts anticipate that Coterra Energy will achieve earnings per share (EPS) of around 2.25. This projection reflects analysts’ confidence in the company’s prospects based on its recent performance and industry factors.
Investors seeking a more detailed analysis on Coterra Energy can access our latest stock analysis report for comprehensive information regarding this company and its potential as an investment opportunity.
It is important to note that investing in stocks carries inherent risks and individuals should conduct their own thorough research before making any investment decisions.
Titan Machinery Inc.
Updated on: 03/12/2023
Debt to equity ratio: Buy
Price to earnings ratio: Strong Buy
Price to book ratio: Strong Buy
DCF: Strong Buy
6:00 PM (UTC)
Date:01 December, 2023
|Analyst / firm||Rating|
Robert W. Baird
Robert W. Baird
Recent Changes in Institutional Ownership and Analyst Ratings for Coterra Energy (CTRA)
As of September 13, 2023, several hedge funds and institutional investors have made notable changes to their positions in Coterra Energy. Titleist Asset Management LLC purchased a new stake in the company during the first quarter, valuing it at $752,000. B. Riley Wealth Advisors Inc. also increased its stake in Coterra Energy by 2.2% during the same period and now owns 49,480 shares worth approximately $1,234,000. Rockefeller Capital Management L.P. saw a significant boost of 41.4% in their holdings with 242,249 shares valued at $5,943,000 during the first quarter.
Furthermore, Chevy Chase Trust Holdings LLC witnessed a slight growth of 1.0% in their position during the first quarter as well. They now own 458,196 shares worth $11,244,000 after purchasing an additional 4,597 shares. Similarly, Sunbelt Securities Inc., raised their stake by 2.5% during the same period and now holds 48,733 shares valued at approximately $1,172,000.
These institutional investors collectively hold approximately 90.54% of Coterra Energy’s stock.
On Wednesday morning at market open on September 13th , CTRA stock started trading at $28.47 per share. Over the past fifty days preceding this date,the stock recorded an average price of $27.32 with a two-hundred-day simple moving average of $25.66.
The current market capitalization for Coterra Energy stands at approximately $21.50 billion while holding a price-to-earnings ratio of 7.14 and a price-to-earnings-growth ratio of just 0.23 – indicating potential undervaluation or room for growth according to certain financial models used to determine stock performance.
Additionally,Coterra Energy has shown strong resistance to market volatility with a low beta of 0.29, indicating that it is less susceptible to price movements compared to the overall market.
Further illuminating the financial health of the company, Coterra Energy boasts a quick ratio of 1.67 and a current ratio of 1.74, indicative of its ability to meet short-term financial obligations comfortably. With a debt-to-equity ratio of only 0.17, Coterra Energy maintains healthy capital structure proportions in relation to its assets.
Looking at Coterra Energy’s dividend distribution, investors who were recorded on Thursday, August 17th received a quarterly dividend payment of $0.20 per share on Thursday, August 31st. This amounts to an annualized dividend payment of $0.80 per share and represents a yield of approximately 2.81%. It is worth noting that the ex-dividend date for this particular payout was Wednesday, August 16th.
Analysts from several brokerages have recently issued their reports on Coterra Energy as well. Mizuho increased their price objective from $39.00 to $42.00 and bestowed a “buy” rating upon the company in their research report released on Wednesday, August 16th.Meanwhile,Morgan Stanley raised their price target for Coterra Energy shares from $26.00 to $27.00 and gave them an “equal weight” rating in a report published on Friday, August 18th.
JPMorgan Chase & Co., however,took a more bullish stance by upgrading their rating for Coterra Energy from “neutral” to “overweight.” Despite lowering their price objective slightly from $33.00 to $31.00 in their research report published on Tuesday, June 27th.
Similarly, Truist Financial reduced their target price to $26 from the previous estimate of $29 but maintained a “hold” rating for the stock in their report made available on Monday, July 24th. Lastly, Stifel Nicolaus analysts increased their price target for Coterra Energy’s shares from $35.00 to $36.00 and labeled them as a “buy” in their research note released on Friday, August 18th.
In conclusion, with ten out of thirteen research analysts providing a “hold” rating and six offering a “buy” rating for Coterra Energy, it seems that the stock is receiving mixed opinions from industry experts. However, according to an average rating compiled by Bloomberg.com, the overall consensus view for the company is the “hold” position with an average price target of $31.00 per share.
As always in investing, it is advisable for potential investors to conduct thorough research and analysis before making any investment decisions based on analyst ratings or target prices alone.