Assenagon Asset Management S.A. Takes $346,000 Position in Coterra Energy Inc. (NYSE:CTRA)

Assenagon Asset Management S.A. purchased a new stake in Coterra Energy Inc. (NYSE:CTRAGet Rating) during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 13,254 shares of the company’s stock, valued at approximately $346,000.

Several other large investors have also added to or reduced their stakes in the stock. Sawtooth Solutions LLC boosted its holdings in shares of Coterra Energy by 52.4% during the 3rd quarter. Sawtooth Solutions LLC now owns 29,397 shares of the company’s stock valued at $768,000 after buying an additional 10,104 shares in the last quarter. Commonwealth Equity Services LLC boosted its holdings in shares of Coterra Energy by 17.2% during the 2nd quarter. Commonwealth Equity Services LLC now owns 105,921 shares of the company’s stock valued at $2,731,000 after buying an additional 15,576 shares in the last quarter. Simmons Bank boosted its holdings in shares of Coterra Energy by 16.5% during the 2nd quarter. Simmons Bank now owns 102,361 shares of the company’s stock valued at $2,640,000 after buying an additional 14,501 shares in the last quarter. Checchi Capital Advisers LLC bought a new stake in shares of Coterra Energy during the 2nd quarter valued at $285,000. Finally, Nordea Investment Management AB boosted its holdings in shares of Coterra Energy by 0.6% during the 3rd quarter. Nordea Investment Management AB now owns 768,971 shares of the company’s stock valued at $19,855,000 after buying an additional 4,959 shares in the last quarter. Institutional investors own 94.72% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently commented on CTRA shares. Citigroup cut shares of Coterra Energy from a “neutral” rating to a “sell” rating and dropped their target price for the company from $27.00 to $23.00 in a report on Wednesday, December 7th. Piper Sandler lowered their price target on Coterra Energy from $33.00 to $31.00 and set a “neutral” rating for the company in a research report on Thursday, November 17th. Barclays lowered their price target on Coterra Energy from $39.00 to $30.00 and set an “equal weight” rating for the company in a research report on Wednesday, December 7th. Jefferies Financial Group assumed coverage on Coterra Energy in a research report on Wednesday, October 19th. They issued a “hold” rating and a $32.00 price target for the company. Finally, Tudor, Pickering, Holt & Co. lowered Coterra Energy from a “buy” rating to a “hold” rating in a research report on Wednesday, November 30th. One equities research analyst has rated the stock with a sell rating, thirteen have issued a hold rating and four have assigned a buy rating to the company. According to MarketBeat, Coterra Energy has an average rating of “Hold” and a consensus target price of $32.67.

Coterra Energy Price Performance

Shares of NYSE:CTRA opened at $25.34 on Wednesday. Coterra Energy Inc. has a fifty-two week low of $18.39 and a fifty-two week high of $36.55. The firm has a market cap of $19.98 billion, a price-to-earnings ratio of 5.12, a price-to-earnings-growth ratio of 0.12 and a beta of 0.25. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.62 and a current ratio of 1.66. The business has a 50-day simple moving average of $25.75 and a two-hundred day simple moving average of $27.81.

Coterra Energy (NYSE:CTRAGet Rating) last released its quarterly earnings results on Thursday, November 3rd. The company reported $1.39 EPS for the quarter, beating the consensus estimate of $1.34 by $0.05. Coterra Energy had a net margin of 44.15% and a return on equity of 29.82%. The firm had revenue of $2.52 billion during the quarter, compared to analyst estimates of $2.43 billion. On average, analysts expect that Coterra Energy Inc. will post 4.89 earnings per share for the current year.

Coterra Energy Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, November 30th. Stockholders of record on Wednesday, November 16th were given a dividend of $0.68 per share. The ex-dividend date was Tuesday, November 15th. This represents a $2.72 annualized dividend and a dividend yield of 10.73%. This is a positive change from Coterra Energy’s previous quarterly dividend of $0.15. Coterra Energy’s dividend payout ratio is presently 12.12%.

Insider Activity

In other news, Director Hans Helmerich sold 5,000 shares of the company’s stock in a transaction dated Thursday, December 1st. The shares were sold at an average price of $27.64, for a total transaction of $138,200.00. Following the completion of the sale, the director now owns 225,755 shares of the company’s stock, valued at approximately $6,239,868.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 1.60% of the company’s stock.

Coterra Energy Company 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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