M&G Plc purchased a new stake in Coterra Energy Inc. (NYSE:CTRA – Free Report) during the first quarter, according to its most recent filing with the SEC. The fund purchased 428,486 shares of the company’s stock, valued at approximately $11,998,000. M&G Plc owned about 0.06% of Coterra Energy as of its most recent filing with the SEC.
Other institutional investors and hedge funds also recently bought and sold shares of the company. Wetzel Investment Advisors Inc. purchased a new position in shares of Coterra Energy in the 4th quarter worth $33,000. Tennessee Valley Asset Management Partners purchased a new position in shares of Coterra Energy in the 4th quarter worth $33,000. Headlands Technologies LLC grew its stake in shares of Coterra Energy by 397.7% in the 4th quarter. Headlands Technologies LLC now owns 1,742 shares of the company’s stock worth $44,000 after buying an additional 1,392 shares in the last quarter. Central Pacific Bank Trust Division purchased a new position in shares of Coterra Energy in the 1st quarter worth $44,000. Finally, Harbor Investment Advisory LLC grew its stake in shares of Coterra Energy by 869.3% in the 1st quarter. Harbor Investment Advisory LLC now owns 1,609 shares of the company’s stock worth $45,000 after buying an additional 1,443 shares in the last quarter. 87.92% of the stock is currently owned by institutional investors.
Analysts Set New Price Targets
CTRA has been the subject of a number of recent analyst reports. Mizuho lifted their price target on shares of Coterra Energy from $37.00 to $41.00 and gave the stock a “buy” rating in a research note on Monday, May 13th. Citigroup lifted their price target on shares of Coterra Energy from $30.00 to $31.00 and gave the stock a “buy” rating in a research note on Friday, May 24th. Piper Sandler lifted their price target on shares of Coterra Energy from $37.00 to $39.00 and gave the stock an “overweight” rating in a research note on Tuesday, May 14th. Bank of America reaffirmed a “buy” rating and set a $34.00 price target on shares of Coterra Energy in a research note on Friday, June 14th. Finally, BMO Capital Markets raised shares of Coterra Energy to a “hold” rating in a research note on Wednesday, July 3rd. Two analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $34.00.
Check Out Our Latest Stock Analysis on Coterra Energy
Coterra Energy Trading Down 1.1 %
CTRA stock traded down $0.31 during mid-day trading on Friday, reaching $26.80. The company had a trading volume of 4,790,891 shares, compared to its average volume of 5,978,679. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.49 and a quick ratio of 1.46. The company has a market capitalization of $19.95 billion, a PE ratio of 15.49, a price-to-earnings-growth ratio of 1.22 and a beta of 0.24. The firm has a 50 day moving average of $27.30 and a 200 day moving average of $26.71. Coterra Energy Inc. has a 12 month low of $23.73 and a 12 month high of $29.89.
Coterra Energy (NYSE:CTRA – Get Free Report) last announced its quarterly earnings results on Thursday, May 2nd. The company reported $0.50 earnings per share for the quarter, topping the consensus estimate of $0.41 by $0.09. Coterra Energy had a net margin of 23.34% and a return on equity of 10.75%. The firm had revenue of $1.43 billion during the quarter, compared to analysts’ expectations of $1.38 billion. On average, equities analysts predict that Coterra Energy Inc. will post 2.06 earnings per share for the current fiscal year.
Coterra Energy Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Thursday, May 30th. Stockholders of record on Thursday, May 16th were given a $0.21 dividend. The ex-dividend date was Wednesday, May 15th. This represents a $0.84 annualized dividend and a dividend yield of 3.13%. Coterra Energy’s payout ratio 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.
Further Reading
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