BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Grows Stock Position in Coterra Energy Inc. (NYSE:CTRA)

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its holdings in Coterra Energy Inc. (NYSE:CTRA) by 60.7% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 143,887 shares of the company’s stock after buying an additional 54,356 shares during the quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s holdings in Coterra Energy were worth $3,837,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in CTRA. Fortitude Family Office LLC increased its position in Coterra Energy by 154.9% in the second quarter. Fortitude Family Office LLC now owns 933 shares of the company’s stock worth $25,000 after buying an additional 567 shares in the last quarter. Larson Financial Group LLC increased its holdings in Coterra Energy by 98.0% in the 2nd quarter. Larson Financial Group LLC now owns 1,081 shares of the company’s stock worth $29,000 after acquiring an additional 535 shares in the last quarter. Central Pacific Bank Trust Division bought a new stake in Coterra Energy during the 1st quarter worth approximately $44,000. Harbor Investment Advisory LLC lifted its holdings in Coterra Energy by 869.3% during the first quarter. Harbor Investment Advisory LLC now owns 1,609 shares of the company’s stock valued at $45,000 after purchasing an additional 1,443 shares in the last quarter. Finally, Northwest Investment Counselors LLC bought a new position in shares of Coterra Energy in the first quarter worth approximately $47,000. 87.92% of the stock is currently owned by institutional investors.

Coterra Energy Stock Up 2.9 %

Shares of NYSE:CTRA opened at $23.74 on Friday. The company has a 50-day moving average price of $24.07 and a 200 day moving average price of $26.30. 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 cap of $17.67 billion, a price-to-earnings ratio of 13.72, a PEG ratio of 1.37 and a beta of 0.22.

Coterra Energy (NYSE:CTRA) last announced its earnings results on Thursday, August 1st. The company reported $0.37 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 company had revenue of $1.27 billion during the quarter, compared to analysts’ expectations of $1.32 billion. During the same quarter last year, the firm posted $0.38 EPS. Coterra Energy’s revenue for the quarter was up 7.3% compared to the same quarter last year. As a group, equities research analysts predict that Coterra Energy Inc. will post 1.74 earnings per share for the current year.

Coterra Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 29th. Shareholders of record on Thursday, August 15th were given a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a yield of 3.54%. The ex-dividend date was Thursday, August 15th. Coterra Energy’s dividend payout ratio (DPR) is 48.55%.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on CTRA. Morgan Stanley decreased their price objective on shares of Coterra Energy from $29.00 to $27.00 and set an “equal weight” rating on the stock in a research report on Monday, September 16th. UBS Group lowered their price objective on Coterra Energy from $34.00 to $31.00 and set a “buy” rating on the stock in a research report on Wednesday, September 18th. Susquehanna cut their target price on Coterra Energy from $33.00 to $30.00 and set a “positive” rating for the company in a research report on Wednesday, September 4th. Roth Capital raised Coterra Energy from a “hold” rating to a “strong-buy” rating in a report on Tuesday, August 27th. Finally, Roth Mkm raised shares of Coterra Energy from a “neutral” rating to a “buy” rating and increased their price objective for the company from $25.00 to $29.00 in a report on Tuesday, August 27th. Two analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $32.59.

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.