HighPoint Advisor Group LLC Purchases New Position in Coterra Energy Inc. (NYSE:CTRA)

HighPoint Advisor Group LLC acquired a new position in Coterra Energy Inc. (NYSE:CTRA) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 11,811 shares of the company’s stock, valued at approximately $329,000.

Other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. increased its position in Coterra Energy by 0.5% during the 4th quarter. Vanguard Group Inc. now owns 87,927,114 shares of the company’s stock valued at $2,243,900,000 after buying an additional 407,244 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in Coterra Energy by 8.8% in the 4th quarter. Dimensional Fund Advisors LP now owns 10,465,383 shares of the company’s stock worth $267,089,000 after purchasing an additional 848,519 shares in the last quarter. Northern Trust Corp grew its position in Coterra Energy by 2.3% during the 3rd quarter. Northern Trust Corp now owns 9,084,114 shares of the company’s stock valued at $245,725,000 after purchasing an additional 201,520 shares during the last quarter. Morgan Stanley increased its stake in Coterra Energy by 5.9% during the 3rd quarter. Morgan Stanley now owns 8,421,481 shares of the company’s stock valued at $227,801,000 after purchasing an additional 466,511 shares in the last quarter. Finally, Schroder Investment Management Group raised its holdings in Coterra Energy by 8.7% in the fourth quarter. Schroder Investment Management Group now owns 7,815,648 shares of the company’s stock worth $199,455,000 after buying an additional 628,132 shares during the last quarter. 87.92% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on CTRA. Citigroup raised their price target on shares of Coterra Energy from $30.00 to $31.00 and gave the company a “buy” rating in a research report on Friday, May 24th. Susquehanna upped their price target on Coterra Energy from $32.00 to $33.00 and gave the company a “positive” rating in a report on Tuesday, May 7th. Morgan Stanley increased their price objective on Coterra Energy from $26.00 to $29.00 and gave the company an “equal weight” rating in a research report on Wednesday, April 17th. Stifel Nicolaus decreased their target price on Coterra Energy from $33.00 to $31.00 and set a “buy” rating for the company in a research report on Friday, March 22nd. Finally, Scotiabank upped their target price on shares of Coterra Energy from $31.00 to $35.00 and gave the company a “sector outperform” rating in a research note on Thursday, April 11th. One equities research analyst has rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $33.93.

Coterra Energy Stock Performance

Shares of CTRA opened at $26.89 on Friday. The business has a 50-day simple moving average of $27.68 and a two-hundred day simple moving average of $26.47. The company has a quick ratio of 1.46, a current ratio of 1.49 and a debt-to-equity ratio of 0.16. Coterra Energy Inc. has a 52 week low of $23.60 and a 52 week high of $29.89. The stock has a market cap of $20.01 billion, a price-to-earnings ratio of 15.54, a PEG ratio of 1.24 and a beta of 0.21.

Coterra Energy (NYSE:CTRA) last released its earnings results on Thursday, May 2nd. The company reported $0.50 earnings per share (EPS) 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 company had revenue of $1.43 billion during the quarter, compared to analyst estimates of $1.38 billion. On average, analysts expect that Coterra Energy Inc. will post 2 EPS for the current year.

Coterra Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 30th. Stockholders of record on Thursday, May 16th were given a dividend of $0.21 per share. The ex-dividend date of this dividend was Wednesday, May 15th. This represents a $0.84 annualized dividend and a dividend yield of 3.12%. Coterra Energy’s payout ratio is 48.55%.

Coterra Energy Company 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.