Coterra Energy Inc. (NYSE:CTRA) Shares Purchased by Empowered Funds LLC

Empowered Funds LLC raised its stake in shares of Coterra Energy Inc. (NYSE:CTRA) by 4.6% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 318,729 shares of the company’s stock after purchasing an additional 13,914 shares during the period. Empowered Funds LLC’s holdings in Coterra Energy were worth $7,634,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of CTRA. Bank of Montreal Can increased its position in shares of 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 acquiring an additional 1,784,192 shares in the last quarter. Marshall Wace LLP increased its position in shares of Coterra Energy by 5,325.5% in the second quarter. Marshall Wace LLP now owns 1,148,569 shares of the company’s stock worth $30,632,000 after acquiring an additional 1,127,399 shares in the last quarter. Clearbridge Investments LLC acquired a new stake in shares of Coterra Energy in the first quarter worth $28,967,000. American Century Companies Inc. increased its position in shares of Coterra Energy by 29.1% in the second quarter. American Century Companies Inc. now owns 4,498,227 shares of the company’s stock worth $119,968,000 after acquiring an additional 1,013,107 shares in the last quarter. Finally, Earnest Partners LLC boosted its stake in shares of Coterra Energy by 37.5% in the first quarter. Earnest Partners LLC now owns 1,918,569 shares of the company’s stock valued at $53,490,000 after purchasing an additional 523,480 shares during the period. Institutional investors and hedge funds own 87.92% of the company’s stock.

Coterra Energy Trading Up 0.6 %

Coterra Energy stock opened at $25.58 on Friday. The firm’s 50-day moving average is $23.95 and its 200-day moving average is $25.46. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.56 and a current ratio of 1.61. Coterra Energy Inc. has a 1 year low of $22.30 and a 1 year high of $28.90. The company has a market cap of $18.84 billion, a P/E ratio of 15.41, a PEG ratio of 1.67 and a beta of 0.22.

Coterra Energy (NYSE:CTRA) last posted its quarterly earnings results on Thursday, October 31st. The company reported $0.32 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.03). Coterra Energy had a return on equity of 9.38% and a net margin of 21.91%. The business had revenue of $1.36 billion during the quarter, compared to the consensus estimate of $1.28 billion. During the same quarter in the previous year, the business posted $0.47 earnings per share. The company’s quarterly revenue was up .2% compared to the same quarter last year. On average, equities analysts expect that Coterra Energy Inc. will post 1.53 earnings per share for the current year.

Coterra Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 27th. Investors of record on Thursday, November 14th will be issued a $0.21 dividend. The ex-dividend date is Thursday, November 14th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 3.28%. Coterra Energy’s dividend payout ratio (DPR) is presently 50.60%.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the stock. Roth Capital upgraded shares of Coterra Energy from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, August 27th. Morgan Stanley upped their target price on shares of Coterra Energy from $27.00 to $29.00 and gave the company an “equal weight” rating in a research note on Thursday. UBS Group upped their target price on shares of Coterra Energy from $31.00 to $35.00 and gave the company a “buy” rating in a research note on Friday. Mizuho upped their target price on shares of Coterra Energy from $36.00 to $37.00 and gave the company an “outperform” rating in a research note on Friday, November 1st. Finally, JPMorgan Chase & Co. decreased their target price on shares of Coterra Energy from $31.00 to $26.00 and set an “overweight” rating for the company in a research note on Thursday, September 12th. Two equities 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 stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $32.41.

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.