ProShare Advisors LLC Buys 32,993 Shares of Coterra Energy Inc. (NYSE:CTRA)

ProShare Advisors LLC grew its stake in shares of Coterra Energy Inc. (NYSE:CTRA) by 25.8% in the second quarter, according to the company in its most recent filing with the SEC. The firm owned 160,840 shares of the company’s stock after acquiring an additional 32,993 shares during the quarter. ProShare Advisors LLC’s holdings in Coterra Energy were worth $4,290,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Fifth Third Bancorp lifted its position in Coterra Energy by 0.6% during the second quarter. Fifth Third Bancorp now owns 71,138 shares of the company’s stock worth $1,897,000 after purchasing an additional 399 shares during the period. TCW Group Inc. lifted its holdings in shares of Coterra Energy by 4.0% during the 2nd quarter. TCW Group Inc. now owns 10,447 shares of the company’s stock worth $279,000 after acquiring an additional 404 shares during the period. Redwood Wealth Management Group LLC boosted its position in shares of Coterra Energy by 2.3% during the 1st quarter. Redwood Wealth Management Group LLC now owns 18,974 shares of the company’s stock worth $529,000 after acquiring an additional 429 shares in the last quarter. Cornercap Investment Counsel Inc. increased its stake in Coterra Energy by 0.7% in the second quarter. Cornercap Investment Counsel Inc. now owns 66,280 shares of the company’s stock valued at $1,768,000 after acquiring an additional 436 shares during the last quarter. Finally, Quent Capital LLC raised its position in Coterra Energy by 8.1% during the first quarter. Quent Capital LLC now owns 5,923 shares of the company’s stock valued at $165,000 after purchasing an additional 445 shares in the last quarter. 87.92% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the company. Bank of America reaffirmed a “buy” rating and issued a $34.00 target price on shares of Coterra Energy in a report on Friday, June 14th. Piper Sandler decreased their target price on Coterra Energy from $39.00 to $31.00 and set an “overweight” rating on the stock in a research report on Thursday, August 15th. UBS Group dropped their target price on shares of Coterra Energy from $34.00 to $31.00 and set a “buy” rating for the company in a report on Wednesday, September 18th. Wolfe Research started coverage on shares of Coterra Energy in a report on Thursday, July 18th. They set an “outperform” rating and a $35.00 price target on the stock. Finally, Susquehanna dropped their price objective on shares of Coterra Energy from $33.00 to $30.00 and set a “positive” rating for the company in a research note on Wednesday, September 4th. Two investment analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $32.59.

Coterra Energy Price Performance

Shares of CTRA opened at $23.06 on Friday. The business has a 50-day moving average of $24.13 and a 200-day moving average of $26.32. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.40 and a quick ratio of 1.38. The company has a market capitalization of $17.04 billion, a price-to-earnings ratio of 13.33, a price-to-earnings-growth ratio of 1.37 and a beta of 0.22. Coterra Energy Inc. has a 1 year low of $22.30 and a 1 year high of $29.89.

Coterra Energy (NYSE:CTRA) last issued its quarterly earnings results on Thursday, August 1st. The company reported $0.37 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.02). Coterra Energy had a return on equity of 10.48% and a net margin of 23.18%. The firm had revenue of $1.27 billion during the quarter, compared to analyst estimates of $1.32 billion. During the same quarter last year, the firm posted $0.38 EPS. The firm’s revenue for the quarter was up 7.3% on a year-over-year basis. As a group, equities research analysts anticipate that Coterra Energy Inc. will post 1.74 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 29th. Shareholders of record on Thursday, August 15th were issued a dividend of $0.21 per share. The ex-dividend date was Thursday, August 15th. This represents a $0.84 dividend on an annualized basis and a yield of 3.64%. Coterra Energy’s payout ratio is currently 48.55%.

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.