Equity Investment Corp Buys 22,017 Shares of Coterra Energy Inc. (NYSE:CTRA)

Equity Investment Corp boosted its position in shares of Coterra Energy Inc. (NYSE:CTRA) by 0.7% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,227,678 shares of the company’s stock after acquiring an additional 22,017 shares during the period. Coterra Energy makes up approximately 2.2% of Equity Investment Corp’s holdings, making the stock its 21st largest holding. Equity Investment Corp owned approximately 0.43% of Coterra Energy worth $86,082,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in CTRA. AGF Management Ltd. raised its stake in shares of Coterra Energy by 12.4% in the fourth quarter. AGF Management Ltd. now owns 26,771 shares of the company’s stock valued at $683,000 after purchasing an additional 2,955 shares in the last quarter. QRG Capital Management Inc. raised its stake in shares of Coterra Energy by 76.6% in the 4th quarter. QRG Capital Management Inc. now owns 62,423 shares of the company’s stock valued at $1,593,000 after buying an additional 27,073 shares in the last quarter. Westpac Banking Corp raised its stake in shares of Coterra Energy by 83.8% in the 4th quarter. Westpac Banking Corp now owns 16,269 shares of the company’s stock valued at $415,000 after buying an additional 7,416 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. lifted its holdings in shares of Coterra Energy by 8.5% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 798,899 shares of the company’s stock worth $20,683,000 after acquiring an additional 62,684 shares during the period. Finally, Janney Montgomery Scott LLC boosted its position in shares of Coterra Energy by 2.2% during the 4th quarter. Janney Montgomery Scott LLC now owns 215,700 shares of the company’s stock valued at $5,504,000 after acquiring an additional 4,731 shares in the last quarter. Institutional investors and hedge funds own 87.92% of the company’s stock.

Analyst Upgrades and Downgrades

CTRA has been the subject of a number of analyst reports. Susquehanna cut their price target on shares of Coterra Energy from $33.00 to $30.00 and set a “positive” rating for the company in a research note on Wednesday, September 4th. Piper Sandler cut their target price on Coterra Energy from $39.00 to $31.00 and set an “overweight” rating for the company in a research report on Thursday, August 15th. JPMorgan Chase & Co. decreased their price target on Coterra Energy from $31.00 to $26.00 and set an “overweight” rating on the stock in a research note on Thursday. Wolfe Research started coverage on Coterra Energy in a research note on Thursday, July 18th. They set an “outperform” rating and a $35.00 price objective for the company. Finally, BMO Capital Markets upgraded shares of Coterra Energy to a “hold” rating in a research note on Wednesday, July 3rd. Two investment 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. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $32.88.

Coterra Energy Trading Down 0.3 %

CTRA opened at $22.78 on Friday. Coterra Energy Inc. has a 1-year low of $22.30 and a 1-year high of $29.89. The company has a current ratio of 1.40, a quick ratio of 1.38 and a debt-to-equity ratio of 0.16. The firm has a 50-day moving average price of $24.92 and a two-hundred day moving average price of $26.54. The stock has a market capitalization of $16.95 billion, a PE ratio of 13.17, a PEG ratio of 1.17 and a beta of 0.22.

Coterra Energy (NYSE:CTRA) last posted its quarterly earnings data on Thursday, August 1st. The company reported $0.37 earnings per share for the quarter, missing the consensus estimate of $0.39 by ($0.02). The company had revenue of $1.27 billion during the quarter, compared to the consensus estimate of $1.32 billion. Coterra Energy had a return on equity of 10.48% and a net margin of 23.18%. The business’s revenue for the quarter was up 7.3% on a year-over-year basis. During the same quarter last year, the firm earned $0.38 EPS. As a group, equities analysts anticipate that Coterra Energy Inc. will post 1.95 earnings per share for the current fiscal year.

Coterra Energy Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, August 29th. Stockholders of record on Thursday, August 15th were paid a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a dividend yield of 3.69%. The ex-dividend date was Thursday, August 15th. Coterra Energy’s dividend payout ratio (DPR) is presently 48.55%.

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.