Intact Investment Management Inc. Acquires 38,800 Shares of Coterra Energy Inc. $CTRA

Intact Investment Management Inc. grew its holdings in shares of Coterra Energy Inc. (NYSE:CTRA) by 30.0% in the 3rd quarter, Holdings Channel.com reports. The firm owned 168,200 shares of the company’s stock after acquiring an additional 38,800 shares during the period. Intact Investment Management Inc.’s holdings in Coterra Energy were worth $3,978,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in CTRA. QRG Capital Management Inc. increased its holdings in shares of Coterra Energy by 67.0% in the 3rd quarter. QRG Capital Management Inc. now owns 143,188 shares of the company’s stock worth $3,386,000 after purchasing an additional 57,461 shares in the last quarter. State of Michigan Retirement System boosted its position in shares of Coterra Energy by 5.8% during the second quarter. State of Michigan Retirement System now owns 244,459 shares of the company’s stock valued at $6,204,000 after buying an additional 13,500 shares during the last quarter. Truist Financial Corp boosted its position in shares of Coterra Energy by 165.3% during the second quarter. Truist Financial Corp now owns 4,213,315 shares of the company’s stock valued at $106,934,000 after buying an additional 2,625,126 shares during the last quarter. Resona Asset Management Co. Ltd. increased its holdings in Coterra Energy by 30.1% in the 2nd quarter. Resona Asset Management Co. Ltd. now owns 294,598 shares of the company’s stock worth $7,486,000 after buying an additional 68,100 shares in the last quarter. Finally, Strs Ohio raised its position in Coterra Energy by 58.5% in the 2nd quarter. Strs Ohio now owns 87,745 shares of the company’s stock worth $2,227,000 after buying an additional 32,376 shares during the last quarter. 87.92% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

CTRA has been the subject of several research reports. William Blair began coverage on shares of Coterra Energy in a report on Wednesday, November 26th. They set an “outperform” rating and a $36.00 price objective for the company. Raymond James Financial lifted their target price on shares of Coterra Energy from $28.00 to $31.00 and gave the stock an “outperform” rating in a research report on Monday, November 24th. Wolfe Research raised their price target on Coterra Energy from $32.00 to $33.00 and gave the stock an “outperform” rating in a research note on Monday. Mizuho lifted their price objective on Coterra Energy from $33.00 to $36.00 and gave the stock an “outperform” rating in a report on Thursday, January 15th. Finally, Piper Sandler lowered their target price on Coterra Energy from $38.00 to $37.00 and set an “overweight” rating on the stock in a report on Tuesday, November 18th. Sixteen equities research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, Coterra Energy currently has a consensus rating of “Moderate Buy” and a consensus target price of $32.81.

Coterra Energy Price Performance

CTRA stock opened at $27.42 on Tuesday. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.98 and a current ratio of 1.02. The company’s fifty day moving average price is $26.13 and its 200-day moving average price is $24.82. Coterra Energy Inc. has a one year low of $22.33 and a one year high of $29.82. The company has a market capitalization of $20.88 billion, a PE ratio of 12.64, a price-to-earnings-growth ratio of 0.61 and a beta of 0.36.

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

Coterra Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, November 26th. Shareholders of record on Thursday, November 13th were paid a $0.22 dividend. The ex-dividend date of this dividend was Thursday, November 13th. This represents a $0.88 dividend on an annualized basis and a yield of 3.2%. Coterra Energy’s payout ratio is presently 40.55%.

About Coterra Energy

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.