Coterra Energy Inc. (NYSE:CTRA) Shares Bought by Mackenzie Financial Corp

Mackenzie Financial Corp raised its holdings in Coterra Energy Inc. (NYSE:CTRA) by 1.4% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 133,846 shares of the company’s stock after acquiring an additional 1,788 shares during the quarter. Mackenzie Financial Corp’s holdings in Coterra Energy were worth $3,570,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Allianz Asset Management GmbH raised its holdings in Coterra Energy by 98.7% during the 4th quarter. Allianz Asset Management GmbH now owns 170,514 shares of the company’s stock worth $4,352,000 after buying an additional 84,680 shares during the period. Scotia Capital Inc. raised its holdings in Coterra Energy by 21.5% during the 4th quarter. Scotia Capital Inc. now owns 49,547 shares of the company’s stock worth $1,264,000 after buying an additional 8,768 shares during the period. Eagle Asset Management Inc. raised its holdings in Coterra Energy by 31.9% during the 4th quarter. Eagle Asset Management Inc. now owns 112,708 shares of the company’s stock worth $2,876,000 after buying an additional 27,229 shares during the period. KBC Group NV raised its holdings in Coterra Energy by 240.1% during the 4th quarter. KBC Group NV now owns 863,965 shares of the company’s stock worth $22,049,000 after buying an additional 609,954 shares during the period. Finally, NEOS Investment Management LLC raised its holdings in Coterra Energy by 29.7% during the 4th quarter. NEOS Investment Management LLC now owns 10,653 shares of the company’s stock worth $272,000 after buying an additional 2,442 shares during the period. 87.92% of the stock is owned by institutional investors and hedge funds.

Coterra Energy Stock Up 0.8 %

Shares of Coterra Energy stock opened at $24.15 on Wednesday. The stock has a market capitalization of $17.97 billion, a P/E ratio of 13.96, a PEG ratio of 1.37 and a beta of 0.22. The company has a quick ratio of 1.38, a current ratio of 1.40 and a debt-to-equity ratio of 0.16. The stock has a 50 day moving average price of $24.01 and a two-hundred day moving average price of $26.27. Coterra Energy Inc. has a 12-month low of $22.30 and a 12-month high of $29.89.

Coterra Energy (NYSE:CTRA) last announced its 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). The company had revenue of $1.27 billion for the quarter, compared to the consensus estimate of $1.32 billion. Coterra Energy had a return on equity of 10.48% and a net margin of 23.18%. The firm’s revenue for the quarter was up 7.3% compared to the same quarter last year. During the same period in the previous year, the company earned $0.38 EPS. Equities analysts expect that Coterra Energy Inc. will post 1.74 earnings per share for the current year.

Coterra Energy Dividend Announcement

The business also recently announced 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. The ex-dividend date was Thursday, August 15th. This represents a $0.84 dividend on an annualized basis and a yield of 3.48%. Coterra Energy’s payout ratio is currently 48.55%.

Wall Street Analyst Weigh In

Several research firms have issued reports on CTRA. Roth Capital upgraded Coterra Energy from a “hold” rating to a “strong-buy” rating in a report on Tuesday, August 27th. BMO Capital Markets upgraded Coterra Energy to a “hold” rating in a report on Wednesday, July 3rd. Truist Financial cut their price objective on Coterra Energy from $34.00 to $31.00 and set a “buy” rating on the stock in a report on Monday. Susquehanna dropped their target price on Coterra Energy from $33.00 to $30.00 and set a “positive” rating on the stock in a report on Wednesday, September 4th. Finally, Wells Fargo & Company dropped their target price on Coterra Energy from $34.00 to $32.00 and set an “overweight” rating on the stock in a report on Tuesday. Two 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. Based on data from MarketBeat.com, Coterra Energy has a consensus rating of “Moderate Buy” and an average price target of $32.53.

Coterra Energy Company 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.