DnB Asset Management AS Purchases Shares of 150,257 Coterra Energy Inc. (NYSE:CTRA)

DnB Asset Management AS purchased a new stake in Coterra Energy Inc. (NYSE:CTRAGet Rating) in the 2nd quarter, HoldingsChannel reports. The fund purchased 150,257 shares of the company’s stock, valued at approximately $3,875,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of CTRA. Deltec Asset Management LLC bought a new stake in shares of Coterra Energy during the first quarter worth about $270,000. Cascade Investment Advisors Inc. bought a new stake in shares of Coterra Energy during the first quarter worth about $1,464,000. Oakworth Capital Inc. bought a new stake in shares of Coterra Energy during the first quarter worth about $432,000. Brookstone Capital Management bought a new stake in shares of Coterra Energy during the first quarter worth about $716,000. Finally, Canton Hathaway LLC bought a new stake in shares of Coterra Energy during the first quarter worth about $189,000. 93.39% of the stock is owned by institutional investors.

Coterra Energy Stock Performance

NYSE CTRA opened at $28.94 on Tuesday. The company’s 50 day moving average is $29.30 and its 200-day moving average is $29.13. Coterra Energy Inc. has a 12-month low of $18.39 and a 12-month high of $36.55. The company has a quick ratio of 1.77, a current ratio of 1.80 and a debt-to-equity ratio of 0.24. The firm has a market cap of $23.02 billion, a P/E ratio of 8.04, a price-to-earnings-growth ratio of 0.11 and a beta of 0.06.

Coterra Energy (NYSE:CTRAGet Rating) last posted its quarterly earnings results on Tuesday, August 2nd. The company reported $1.32 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.18 by $0.14. Coterra Energy had a net margin of 41.04% and a return on equity of 28.44%. The company had revenue of $2.57 billion for the quarter, compared to analyst estimates of $2.25 billion. During the same quarter in the previous year, the firm posted $0.25 earnings per share. Sell-side analysts predict that Coterra Energy Inc. will post 4.97 earnings per share for the current year.

Coterra Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 25th. Stockholders of record on Monday, August 15th were given a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 2.07%. The ex-dividend date was Friday, August 12th. Coterra Energy’s dividend payout ratio (DPR) is currently 16.67%.

Analyst Ratings Changes

Several equities research analysts have recently commented on CTRA shares. Piper Sandler decreased their target price on shares of Coterra Energy from $34.00 to $33.00 and set a “neutral” rating for the company in a research report on Friday, July 22nd. Wells Fargo & Company boosted their target price on shares of Coterra Energy from $42.00 to $46.00 and gave the stock an “overweight” rating in a research report on Monday, July 11th. Morgan Stanley cut their price target on shares of Coterra Energy from $30.00 to $29.00 and set an “equal weight” rating on the stock in a report on Tuesday, July 19th. Credit Suisse Group boosted their price target on shares of Coterra Energy from $30.00 to $35.00 and gave the stock a “neutral” rating in a report on Monday, June 13th. Finally, Barclays boosted their price target on shares of Coterra Energy from $37.00 to $43.00 and gave the stock an “equal weight” rating in a report on Wednesday, August 31st. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $33.67.

Coterra Energy Profile

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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. It primarily focuses on the Marcellus Shale with approximately 177,000 net acres in the dry gas window of the play located in Susquehanna County, Pennsylvania.

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Institutional Ownership by Quarter for Coterra Energy (NYSE:CTRA)

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