Asset Management One Co. Ltd. Raises Holdings in Coterra Energy Inc. $CTRA
by Mitch Edgeman · The Markets DailyAsset Management One Co. Ltd. lifted its holdings in shares of Coterra Energy Inc. (NYSE:CTRA – Free Report) by 1.6% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 313,613 shares of the company’s stock after purchasing an additional 4,996 shares during the period. Asset Management One Co. Ltd.’s holdings in Coterra Energy were worth $7,959,000 as of its most recent SEC filing.
A number of other hedge funds have also modified their holdings of CTRA. Wellington Management Group LLP increased its stake in shares of Coterra Energy by 15.3% during the 1st quarter. Wellington Management Group LLP now owns 83,631,117 shares of the company’s stock worth $2,416,939,000 after purchasing an additional 11,102,350 shares in the last quarter. Vanguard Group Inc. increased its stake in shares of Coterra Energy by 4.3% during the 1st quarter. Vanguard Group Inc. now owns 92,337,673 shares of the company’s stock worth $2,668,559,000 after purchasing an additional 3,818,700 shares in the last quarter. Pacer Advisors Inc. increased its stake in shares of Coterra Energy by 5,145.4% during the 1st quarter. Pacer Advisors Inc. now owns 3,100,064 shares of the company’s stock worth $89,592,000 after purchasing an additional 3,040,963 shares in the last quarter. Truist Financial Corp increased its stake in shares of Coterra Energy by 165.3% during the 2nd quarter. Truist Financial Corp now owns 4,213,315 shares of the company’s stock worth $106,934,000 after purchasing an additional 2,625,126 shares in the last quarter. Finally, Nuveen LLC purchased a new position in shares of Coterra Energy during the 1st quarter worth approximately $64,173,000. 87.92% of the stock is owned by hedge funds and other institutional investors.
Coterra Energy Stock Performance
NYSE:CTRA opened at $23.65 on Tuesday. The company has a current ratio of 1.13, a quick ratio of 1.08 and a debt-to-equity ratio of 0.29. The firm has a market capitalization of $18.05 billion, a price-to-earnings ratio of 11.32, a PEG ratio of 0.36 and a beta of 0.29. The firm’s fifty day simple moving average is $23.75 and its 200 day simple moving average is $24.49. Coterra Energy Inc. has a twelve month low of $22.33 and a twelve month high of $29.95.
Coterra Energy (NYSE:CTRA – Get Free Report) last posted its earnings results on Monday, August 4th. The company reported $0.48 earnings per share for the quarter, missing the consensus estimate of $0.50 by ($0.02). The business had revenue of $1.97 billion for the quarter, compared to analyst estimates of $1.78 billion. Coterra Energy had a net margin of 23.80% and a return on equity of 10.99%. The business’s revenue was up 54.6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.37 EPS. As a group, equities research analysts expect that Coterra Energy Inc. will post 1.54 earnings per share for the current fiscal year.
Coterra Energy Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Thursday, August 28th. Investors of record on Thursday, August 14th were issued a dividend of $0.22 per share. The ex-dividend date was Thursday, August 14th. This represents a $0.88 annualized dividend and a dividend yield of 3.7%. Coterra Energy’s payout ratio is presently 42.11%.
Analyst Upgrades and Downgrades
Several analysts have commented on CTRA shares. Mizuho lowered their target price on shares of Coterra Energy from $36.00 to $33.00 and set an “outperform” rating for the company in a research note on Monday, September 15th. Susquehanna lowered their target price on shares of Coterra Energy from $32.00 to $31.00 and set a “positive” rating for the company in a research note on Monday, October 20th. Roth Capital lowered their target price on shares of Coterra Energy from $27.00 to $26.00 and set a “buy” rating for the company in a research note on Wednesday, October 15th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Coterra Energy in a research note on Wednesday, October 8th. Finally, Barclays lowered their target price on shares of Coterra Energy from $37.00 to $35.00 and set an “overweight” rating for the company in a research note on Tuesday, October 7th. Sixteen research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $32.60.
Check Out Our Latest Research Report on CTRA
Coterra Energy Profile
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.
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