Ensign Peak Advisors Inc Reduces Stock Position in Coterra Energy Inc. (NYSE:CTRA)

Ensign Peak Advisors Inc lessened its stake in Coterra Energy Inc. (NYSE:CTRA) by 4.0% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 464,342 shares of the company’s stock after selling 19,325 shares during the period. Ensign Peak Advisors Inc owned approximately 0.06% of Coterra Energy worth $12,384,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the stock. KBC Group NV increased its position in Coterra Energy by 240.1% during the fourth quarter. KBC Group NV now owns 863,965 shares of the company’s stock valued at $22,049,000 after acquiring an additional 609,954 shares during the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. purchased a new stake in shares of Coterra Energy in the 1st quarter worth $656,000. Quadrature Capital Ltd raised its holdings 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 purchasing an additional 38,278 shares during the period. Allianz Asset Management GmbH lifted its position in Coterra Energy by 98.7% during the fourth quarter. Allianz Asset Management GmbH now owns 170,514 shares of the company’s stock valued at $4,352,000 after purchasing an additional 84,680 shares in the last quarter. Finally, Vanguard Group Inc. increased its position in Coterra Energy by 0.5% in 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 in the last quarter. 87.92% of the stock is currently owned by hedge funds and other institutional investors.

Coterra Energy Stock Performance

Shares of NYSE:CTRA opened at $23.99 on Tuesday. The company has a current ratio of 1.40, a quick ratio of 1.38 and a debt-to-equity ratio of 0.16. Coterra Energy Inc. has a 12 month low of $22.30 and a 12 month high of $29.89. The company has a market capitalization of $17.85 billion, a price-to-earnings ratio of 13.86, a PEG ratio of 1.16 and a beta of 0.22. The firm’s 50-day moving average is $24.36 and its 200 day moving average is $26.38.

Coterra Energy (NYSE:CTRA) last issued its quarterly 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). Coterra Energy had a return on equity of 10.48% and a net margin of 23.18%. The business had revenue of $1.27 billion during the quarter, compared to analysts’ expectations of $1.32 billion. During the same quarter in the previous year, the company posted $0.38 earnings per share. The company’s quarterly revenue was up 7.3% compared to the same quarter last year. Research analysts predict that Coterra Energy Inc. will post 1.95 EPS for the current year.

Coterra Energy Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, August 29th. Investors of record on Thursday, August 15th were paid a $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 3.50%. The ex-dividend date was Thursday, August 15th. Coterra Energy’s dividend payout ratio is presently 48.55%.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the stock. Truist Financial dropped 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. Roth Capital raised Coterra Energy from a “hold” rating to a “strong-buy” rating in a report on Tuesday, August 27th. Bank of America reaffirmed a “buy” rating and issued a $34.00 price objective on shares of Coterra Energy in a research note on Friday, June 14th. Wolfe Research assumed coverage on Coterra Energy in a research note on Thursday, July 18th. They set an “outperform” rating and a $35.00 target price on the stock. Finally, Piper Sandler dropped their price target on Coterra Energy from $39.00 to $31.00 and set an “overweight” rating for the company in a research note on Thursday, August 15th. Two equities research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price 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.