AQR Capital Management LLC Buys 190,470 Shares of Coterra Energy Inc. (NYSE:CTRA)

AQR Capital Management LLC increased its stake in Coterra Energy Inc. (NYSE:CTRA) by 7.2% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,844,737 shares of the company’s stock after buying an additional 190,470 shares during the quarter. AQR Capital Management LLC owned about 0.38% of Coterra Energy worth $75,869,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Balyasny Asset Management L.P. purchased a new stake in shares of Coterra Energy in the fourth quarter worth approximately $54,625,000. Bank of Montreal Can increased its stake in Coterra Energy by 160.1% in the second quarter. Bank of Montreal Can now owns 2,898,876 shares of the company’s stock worth $80,154,000 after purchasing an additional 1,784,192 shares during the period. SG Americas Securities LLC lifted its position in shares of Coterra Energy by 2,609.6% during the first quarter. SG Americas Securities LLC now owns 1,541,342 shares of the company’s stock worth $42,973,000 after purchasing an additional 1,484,458 shares during the last quarter. Bridgewater Associates LP purchased a new stake in shares of Coterra Energy during the fourth quarter valued at $31,112,000. Finally, Marshall Wace LLP boosted its stake in shares of Coterra Energy by 5,325.5% during the second quarter. Marshall Wace LLP now owns 1,148,569 shares of the company’s stock valued at $30,632,000 after purchasing an additional 1,127,399 shares during the period. 87.92% of the stock is owned by hedge funds and other institutional investors.

Coterra Energy Stock Up 2.9 %

Shares of Coterra Energy stock opened at $23.74 on Friday. The company has a quick ratio of 1.38, a current ratio of 1.40 and a debt-to-equity ratio of 0.16. The company has a market cap of $17.67 billion, a P/E ratio of 13.72, a PEG ratio of 1.37 and a beta of 0.22. The firm’s 50 day moving average price is $24.07 and its 200-day moving average price is $26.30. Coterra Energy Inc. has a 52-week low of $22.30 and a 52-week high of $29.89.

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 the consensus estimate of $0.39 by ($0.02). Coterra Energy had a return on equity of 10.48% and a net margin of 23.18%. The firm had revenue of $1.27 billion during the quarter, compared to analysts’ expectations of $1.32 billion. During the same period in the prior year, the firm posted $0.38 earnings per share. Coterra Energy’s revenue for the quarter was up 7.3% compared to the same quarter last year. On average, sell-side analysts predict that Coterra Energy Inc. will post 1.74 EPS for the current fiscal year.

Coterra Energy Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 29th. Shareholders of record on Thursday, August 15th were paid a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a yield of 3.54%. The ex-dividend date of this dividend was Thursday, August 15th. Coterra Energy’s dividend payout ratio (DPR) is presently 48.55%.

Analysts Set New Price Targets

CTRA has been the subject of a number of research analyst reports. Piper Sandler decreased their price objective on shares of Coterra Energy from $39.00 to $31.00 and set an “overweight” rating for the company in a report on Thursday, August 15th. Wolfe Research started coverage on Coterra Energy in a report on Thursday, July 18th. They issued an “outperform” rating and a $35.00 price target for the company. JPMorgan Chase & Co. reduced 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, September 12th. Truist Financial lowered their target price on Coterra Energy from $35.00 to $34.00 and set a “buy” rating for the company in a report on Monday, July 22nd. Finally, BMO Capital Markets upgraded Coterra Energy to a “hold” rating in a research note on Wednesday, July 3rd. Two research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average 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.