Asset Management One Co. Ltd. Boosts Stake in Coterra Energy Inc. (NYSE:CTRA)

Asset Management One Co. Ltd. raised its position in Coterra Energy Inc. (NYSE:CTRAFree Report) by 2.9% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 308,617 shares of the company’s stock after buying an additional 8,600 shares during the period. Asset Management One Co. Ltd.’s holdings in Coterra Energy were worth $8,919,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Investors Research Corp grew its position in shares of Coterra Energy by 45.2% during the 1st quarter. Investors Research Corp now owns 1,311 shares of the company’s stock valued at $38,000 after acquiring an additional 408 shares during the period. Plato Investment Management Ltd bought a new position in shares of Coterra Energy during the 4th quarter valued at approximately $43,000. VSM Wealth Advisory LLC bought a new position in shares of Coterra Energy during the 4th quarter valued at approximately $46,000. Nemes Rush Group LLC bought a new position in shares of Coterra Energy during the 4th quarter valued at approximately $48,000. Finally, Optiver Holding B.V. bought a new position in shares of Coterra Energy during the 4th quarter valued at approximately $50,000. Hedge funds and other institutional investors own 87.92% of the company’s stock.

Coterra Energy Stock Performance

Coterra Energy stock opened at $25.63 on Friday. The firm’s fifty day moving average price is $25.20 and its 200-day moving average price is $26.40. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.86 and a current ratio of 0.90. The stock has a market cap of $19.56 billion, a P/E ratio of 14.90, a price-to-earnings-growth ratio of 0.35 and a beta of 0.34. Coterra Energy Inc. has a fifty-two week low of $22.30 and a fifty-two week high of $29.95.

Coterra Energy (NYSE:CTRAGet Free Report) last posted its quarterly earnings data on Monday, May 5th. The company reported $0.80 earnings per share for the quarter, beating the consensus estimate of $0.71 by $0.09. The firm had revenue of $924.00 million for the quarter, compared to analysts’ expectations of $1.92 billion. Coterra Energy had a net margin of 21.67% and a return on equity of 10.61%. The business’s quarterly revenue was up 32.9% on a year-over-year basis. During the same quarter last year, the company posted $0.51 EPS. On average, equities research analysts expect that Coterra Energy Inc. will post 1.54 earnings per share for the current fiscal year.

Coterra Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 29th. Stockholders of record on Thursday, May 15th were given a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a dividend yield of 3.43%. The ex-dividend date of this dividend was Thursday, May 15th. Coterra Energy’s dividend payout ratio (DPR) is currently 51.16%.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on CTRA. Wells Fargo & Company reduced their target price on shares of Coterra Energy from $33.00 to $31.00 and set an “overweight” rating for the company in a research report on Monday, June 16th. Raymond James Financial set a $38.00 price objective on shares of Coterra Energy and gave the stock an “outperform” rating in a report on Friday, June 13th. Bank of America cut their price objective on shares of Coterra Energy from $34.00 to $33.00 and set a “buy” rating for the company in a report on Tuesday, April 29th. Mizuho cut their price objective on shares of Coterra Energy from $38.00 to $36.00 and set an “outperform” rating for the company in a report on Tuesday, May 13th. Finally, Williams Trading set a $37.00 price objective on shares of Coterra Energy in a report on Wednesday, March 5th. Four analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $33.30.

Read Our Latest Report on CTRA

Coterra Energy Company Profile

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for Coterra Energy (NYSE:CTRA)

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