67,785 Shares in Coterra Energy Inc. (NYSE:CTRA) Purchased by Acadian Asset Management LLC

Acadian Asset Management LLC acquired a new stake in Coterra Energy Inc. (NYSE:CTRA) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 67,785 shares of the company’s stock, valued at approximately $1,807,000.

Other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its position in Coterra Energy by 0.5% during the fourth quarter. Vanguard Group Inc. now owns 87,927,114 shares of the company’s stock worth $2,243,900,000 after buying an additional 407,244 shares during the period. Schroder Investment Management Group lifted its holdings in Coterra Energy by 8.7% in the 4th 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 in the last quarter. Equity Investment Corp boosted its stake in Coterra Energy by 4.7% during the 1st quarter. Equity Investment Corp now owns 3,205,661 shares of the company’s stock valued at $89,374,000 after acquiring an additional 143,454 shares during the last quarter. Captrust Financial Advisors boosted its holdings in Coterra Energy by 4.6% in the first quarter. Captrust Financial Advisors now owns 2,952,024 shares of the company’s stock worth $78,422,000 after purchasing an additional 128,720 shares during the period. Finally, Balyasny Asset Management L.P. acquired a new position in Coterra Energy during the 4th quarter valued at approximately $54,625,000. Hedge funds and other institutional investors own 87.92% of the company’s stock.

Analysts Set New Price Targets

Several research firms have issued reports on CTRA. JPMorgan Chase & Co. cut their price objective on Coterra Energy from $31.00 to $26.00 and set an “overweight” rating on the stock in a report on Thursday. UBS Group decreased their price target on Coterra Energy from $36.00 to $34.00 and set a “buy” rating on the stock in a research note on Thursday, August 8th. Piper Sandler decreased their price target on Coterra Energy from $39.00 to $31.00 and set an “overweight” rating on the stock in a research report on Thursday, August 15th. Susquehanna decreased their price target on shares of Coterra Energy from $33.00 to $30.00 and set a “positive” rating on the stock in a research note on Wednesday, September 4th. Finally, Truist Financial cut their price target on shares of Coterra Energy from $35.00 to $34.00 and set a “buy” rating on the stock in a research report on Monday, July 22nd. Two investment analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $32.88.

Coterra Energy Price Performance

CTRA stock opened at $22.78 on Friday. The business’s 50-day moving average is $24.77 and its two-hundred day moving average is $26.49. The company has a market cap of $16.95 billion, a price-to-earnings ratio of 13.17, a P/E/G ratio of 1.16 and a beta of 0.22. Coterra Energy Inc. has a fifty-two week low of $22.30 and a fifty-two week high of $29.89. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.38 and a current ratio of 1.40.

Coterra Energy (NYSE:CTRA) last released its quarterly earnings results on Thursday, August 1st. The company reported $0.37 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.02). The business had revenue of $1.27 billion for the quarter, compared to analysts’ expectations of $1.32 billion. Coterra Energy had a net margin of 23.18% and a return on equity of 10.48%. Coterra Energy’s revenue for the quarter was up 7.3% compared to the same quarter last year. During the same period in the previous year, the company earned $0.38 EPS. As a group, analysts forecast that Coterra Energy Inc. will post 1.95 earnings per share for the current year.

Coterra Energy Dividend Announcement

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

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.