Nippon Life Global Investors Americas Inc. Makes New Investment in Coterra Energy Inc. (NYSE:CTRA)

Nippon Life Global Investors Americas Inc. bought a new position in shares of Coterra Energy Inc. (NYSE:CTRA) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 13,420 shares of the company’s stock, valued at approximately $358,000.

Several other institutional investors have also recently made changes to their positions in CTRA. Fortitude Family Office LLC lifted its position in Coterra Energy by 154.9% during the 2nd quarter. Fortitude Family Office LLC now owns 933 shares of the company’s stock valued at $25,000 after acquiring an additional 567 shares during the period. Larson Financial Group LLC lifted its holdings in shares of Coterra Energy by 98.0% during the second quarter. Larson Financial Group LLC now owns 1,081 shares of the company’s stock valued at $29,000 after purchasing an additional 535 shares during the last quarter. Central Pacific Bank Trust Division bought a new stake in shares of Coterra Energy in the 1st quarter worth approximately $44,000. 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 during the last quarter. Finally, Northwest Investment Counselors LLC bought a new position in Coterra Energy during the 1st quarter valued at approximately $47,000. Institutional investors own 87.92% of the company’s stock.

Coterra Energy Stock Up 0.4 %

CTRA stock opened at $23.66 on Monday. The company has a market cap of $17.61 billion, a price-to-earnings ratio of 13.68, a P/E/G ratio of 1.16 and a beta of 0.22. 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 business’s 50-day moving average is $24.42 and its two-hundred day moving average is $26.39. Coterra Energy Inc. has a fifty-two week low of $22.30 and a fifty-two week high of $29.89.

Coterra Energy (NYSE:CTRA) last issued 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 business 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%. Coterra Energy’s revenue for the quarter was up 7.3% on a year-over-year basis. During the same quarter last 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 Announces Dividend

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

Wall Street Analyst Weigh In

CTRA has been the topic of a number of recent research reports. Piper Sandler cut their target price on Coterra Energy from $39.00 to $31.00 and set an “overweight” rating on the stock in a research note on Thursday, August 15th. UBS Group reduced their price objective on shares of Coterra Energy from $34.00 to $31.00 and set a “buy” rating for the company in a research note on Wednesday, September 18th. JPMorgan Chase & Co. dropped their target price on shares of Coterra Energy from $31.00 to $26.00 and set an “overweight” rating on the stock in a research note on Thursday, September 12th. Truist Financial reduced their price target on shares of Coterra Energy from $35.00 to $34.00 and set a “buy” rating for the company in a research report on Monday, July 22nd. Finally, Bank of America reaffirmed a “buy” rating and issued a $34.00 price objective on shares of Coterra Energy in a research report on Friday, June 14th. Two research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Coterra Energy presently has an average rating of “Moderate Buy” and an average price target of $32.59.

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.