Quarry LP Makes New $186,000 Investment in Coterra Energy Inc. (NYSE:CTRA)

Quarry LP acquired a new stake in shares of Coterra Energy Inc. (NYSE:CTRA) during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm acquired 6,987 shares of the company’s stock, valued at approximately $186,000.

Other large investors also recently modified their holdings of the company. KBC Group NV grew its position in shares of Coterra Energy by 240.1% during the fourth quarter. KBC Group NV now owns 863,965 shares of the company’s stock worth $22,049,000 after purchasing an additional 609,954 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. bought a new stake in Coterra Energy in the 1st quarter worth approximately $656,000. Quadrature Capital Ltd increased its stake in Coterra Energy by 112.2% in the 1st quarter. Quadrature Capital Ltd now owns 72,395 shares of the company’s stock worth $2,018,000 after acquiring an additional 38,278 shares during the last quarter. Allianz Asset Management GmbH boosted its position in shares of Coterra Energy by 98.7% during the 4th quarter. Allianz Asset Management GmbH now owns 170,514 shares of the company’s stock valued at $4,352,000 after acquiring an additional 84,680 shares during the last quarter. Finally, Vanguard Group Inc. grew its holdings in shares of Coterra Energy by 0.5% in the fourth quarter. Vanguard Group Inc. now owns 87,927,114 shares of the company’s stock valued at $2,243,900,000 after purchasing an additional 407,244 shares in the last quarter. Hedge funds and other institutional investors own 87.92% of the company’s stock.

Coterra Energy Stock Performance

CTRA stock opened at $23.95 on Tuesday. Coterra Energy Inc. has a one year low of $22.30 and a one year high of $29.89. The firm has a market cap of $17.82 billion, a price-to-earnings ratio of 13.84, a PEG ratio of 1.37 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 firm has a 50-day simple moving average of $24.07 and a two-hundred day simple moving average of $26.29.

Coterra Energy (NYSE:CTRA) last announced its earnings results 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 firm had revenue of $1.27 billion during the quarter, compared to analyst estimates 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 was up 7.3% on a year-over-year basis. During the same quarter last year, the business earned $0.38 earnings per share. On average, equities analysts forecast that Coterra Energy Inc. will post 1.74 EPS for the current fiscal year.

Coterra Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 29th. Investors of record on Thursday, August 15th were given a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a yield of 3.51%. The ex-dividend date of this dividend was Thursday, August 15th. Coterra Energy’s dividend payout ratio is currently 48.55%.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the stock. JPMorgan Chase & Co. reduced their target price on shares of Coterra Energy from $31.00 to $26.00 and set an “overweight” rating on the stock in a report on Thursday, September 12th. Roth Capital raised shares of Coterra Energy from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, August 27th. Bank of America restated a “buy” rating and set a $34.00 target price on shares of Coterra Energy in a research report on Friday, June 14th. Piper Sandler reduced their price target on Coterra Energy from $39.00 to $31.00 and set an “overweight” rating on the stock in a report on Thursday, August 15th. Finally, Roth Mkm raised Coterra Energy from a “neutral” rating to a “buy” rating and raised their price target for the stock from $25.00 to $29.00 in a research note on Tuesday, August 27th. Two equities research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $32.41.

About Coterra Energy

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.