2,618 Shares in Coterra Energy Inc. (NYSE:CTRA) Bought by Tobam

Tobam acquired a new stake in shares of Coterra Energy Inc. (NYSE:CTRA) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 2,618 shares of the company’s stock, valued at approximately $63,000.

Several other institutional investors have also bought and sold shares of CTRA. Bank of Montreal Can lifted its position in Coterra Energy by 160.1% during the second quarter. Bank of Montreal Can now owns 2,898,876 shares of the company’s stock valued at $80,154,000 after purchasing an additional 1,784,192 shares during the last quarter. SG Americas Securities LLC raised its stake in shares of Coterra Energy by 2,609.6% in the first quarter. SG Americas Securities LLC now owns 1,541,342 shares of the company’s stock valued at $42,973,000 after acquiring an additional 1,484,458 shares during the period. Marshall Wace LLP raised its stake in shares of Coterra Energy by 5,325.5% in the second quarter. Marshall Wace LLP now owns 1,148,569 shares of the company’s stock valued at $30,632,000 after acquiring an additional 1,127,399 shares during the period. Clearbridge Investments LLC purchased a new position in Coterra Energy in the 1st quarter worth about $28,967,000. Finally, American Century Companies Inc. increased its stake in Coterra Energy by 29.1% in the 2nd quarter. American Century Companies Inc. now owns 4,498,227 shares of the company’s stock worth $119,968,000 after buying an additional 1,013,107 shares during the period. Institutional investors own 87.92% of the company’s stock.

Coterra Energy Stock Up 1.6 %

CTRA stock opened at $24.89 on Friday. The firm has a 50 day moving average of $23.83 and a 200 day moving average of $26.13. The stock has a market capitalization of $18.40 billion, a PE ratio of 14.22, a price-to-earnings-growth ratio of 1.41 and a beta of 0.22. The company has a quick ratio of 1.38, a current ratio of 1.40 and a debt-to-equity ratio of 0.16. Coterra Energy Inc. has a 52 week low of $22.30 and a 52 week high of $29.89.

Coterra Energy (NYSE:CTRA) last released its earnings results on Thursday, August 1st. The company reported $0.37 EPS for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.02). The company had revenue of $1.27 billion during the quarter, compared to analyst estimates of $1.32 billion. Coterra Energy had a return on equity of 10.48% and a net margin of 23.18%. The firm’s revenue for the quarter was up 7.3% on a year-over-year basis. During the same quarter last year, the business earned $0.38 earnings per share. Sell-side analysts forecast that Coterra Energy Inc. will post 1.72 earnings per share for the current year.

Coterra Energy Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, August 29th. Investors of record on Thursday, August 15th were paid a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a yield of 3.37%. The ex-dividend date was Thursday, August 15th. Coterra Energy’s dividend payout ratio (DPR) is presently 48.00%.

Analysts Set New Price Targets

Several research firms recently commented on CTRA. Bank of America reaffirmed a “buy” rating and issued a $34.00 price target on shares of Coterra Energy in a research note on Friday, June 14th. Barclays dropped their target price on shares of Coterra Energy from $33.00 to $31.00 and set an “overweight” rating on the stock in a report on Thursday, October 3rd. Truist Financial dropped their target price on shares of Coterra Energy from $34.00 to $31.00 and set a “buy” rating on the stock in a report on Monday, September 30th. Roth Capital upgraded shares of Coterra Energy from a “hold” rating to a “strong-buy” rating in a report on Tuesday, August 27th. Finally, JPMorgan Chase & Co. dropped their target price on shares of Coterra Energy from $31.00 to $26.00 and set an “overweight” rating on the stock in a report on Thursday, September 12th. Two equities research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $32.06.

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'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.