Intech Investment Management LLC Has $4.28 Million Stock Position in Coterra Energy Inc. (NYSE:CTRA)

Intech Investment Management LLC raised its position in shares of Coterra Energy Inc. (NYSE:CTRA) by 189.7% in the second quarter, according to its most recent filing with the SEC. The firm owned 160,497 shares of the company’s stock after purchasing an additional 105,095 shares during the quarter. Intech Investment Management LLC’s holdings in Coterra Energy were worth $4,280,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Gladstone Institutional Advisory LLC grew its holdings in Coterra Energy by 7.8% during the 4th quarter. Gladstone Institutional Advisory LLC now owns 8,509 shares of the company’s stock worth $217,000 after acquiring an additional 615 shares during the period. Cambridge Investment Research Advisors Inc. grew its stake in Coterra Energy by 3.9% during the fourth quarter. Cambridge Investment Research Advisors Inc. now owns 151,805 shares of the company’s stock worth $3,874,000 after purchasing an additional 5,702 shares during the period. TCW Group Inc. bought a new stake in Coterra Energy in the fourth quarter worth approximately $302,000. Hilltop Holdings Inc. lifted its stake in Coterra Energy by 2.3% in the fourth quarter. Hilltop Holdings Inc. now owns 101,321 shares of the company’s stock valued at $2,586,000 after buying an additional 2,281 shares during the period. Finally, Alta Wealth Advisors LLC bought a new position in shares of Coterra Energy during the 4th quarter worth approximately $326,000. Institutional investors own 87.92% of the company’s stock.

Coterra Energy Trading Up 0.4 %

NYSE:CTRA opened at $23.66 on Friday. Coterra Energy Inc. has a 52 week low of $22.30 and a 52 week high of $29.89. The firm has a 50-day moving average price of $24.42 and a two-hundred day moving average price of $26.39. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.38 and a current ratio of 1.40. The firm has a market cap of $17.61 billion, a price-to-earnings ratio of 13.68, a price-to-earnings-growth ratio of 1.16 and a beta of 0.22.

Coterra Energy (NYSE:CTRA) last issued its quarterly earnings results on Thursday, August 1st. The company reported $0.37 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 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 was up 7.3% compared to the same quarter last year. During the same quarter last year, the business posted $0.38 earnings per share. On average, equities analysts expect that Coterra Energy Inc. will post 1.95 earnings per share for the current fiscal year.

Coterra Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 29th. Investors of record on Thursday, August 15th were issued a dividend of $0.21 per share. The ex-dividend date of this dividend was Thursday, August 15th. This represents a $0.84 dividend on an annualized basis and a yield of 3.55%. Coterra Energy’s dividend payout ratio (DPR) is presently 48.55%.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the stock. BMO Capital Markets upgraded shares of Coterra Energy to a “hold” rating in a research report on Wednesday, July 3rd. Truist Financial cut their price objective 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. Roth Mkm raised Coterra Energy from a “neutral” rating to a “buy” rating and boosted their target price for the company from $25.00 to $29.00 in a research report on Tuesday, August 27th. Morgan Stanley cut their price target on Coterra Energy from $29.00 to $27.00 and set an “equal weight” rating on the stock in a report on Monday, September 16th. Finally, Bank of America restated a “buy” rating and set a $34.00 price objective on shares of Coterra Energy in a report on Friday, June 14th. Two equities research 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 stock. According to data from MarketBeat.com, Coterra Energy has a consensus rating of “Moderate Buy” and an average target price of $32.59.

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.