IFM Investors Pty Ltd Has $2.73 Million Holdings in Coterra Energy Inc. $CTRA

IFM Investors Pty Ltd boosted its stake in Coterra Energy Inc. (NYSE:CTRA) by 11.9% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 107,506 shares of the company’s stock after purchasing an additional 11,436 shares during the quarter. IFM Investors Pty Ltd’s holdings in Coterra Energy were worth $2,729,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Vident Advisory LLC boosted its stake in shares of Coterra Energy by 9.1% in the 4th quarter. Vident Advisory LLC now owns 18,565 shares of the company’s stock valued at $474,000 after purchasing an additional 1,544 shares in the last quarter. Toronto Dominion Bank raised its holdings in Coterra Energy by 5.8% during the 4th quarter. Toronto Dominion Bank now owns 386,016 shares of the company’s stock worth $9,859,000 after purchasing an additional 21,091 shares during the last quarter. Forum Financial Management LP raised its holdings in Coterra Energy by 18.3% during the 4th quarter. Forum Financial Management LP now owns 18,750 shares of the company’s stock worth $479,000 after purchasing an additional 2,896 shares during the last quarter. Mackenzie Financial Corp raised its holdings in Coterra Energy by 446.4% during the 4th quarter. Mackenzie Financial Corp now owns 784,759 shares of the company’s stock worth $20,043,000 after purchasing an additional 641,138 shares during the last quarter. Finally, Heck Capital Advisors LLC bought a new stake in shares of Coterra Energy in the 4th quarter valued at $266,000. Institutional investors own 87.92% of the company’s stock.

Coterra Energy Stock Down 0.5%

CTRA stock opened at $23.16 on Tuesday. The company has a current ratio of 1.13, a quick ratio of 1.08 and a debt-to-equity ratio of 0.29. The company’s 50 day moving average is $23.99 and its 200 day moving average is $25.20. The stock has a market cap of $17.67 billion, a price-to-earnings ratio of 11.08, a price-to-earnings-growth ratio of 0.33 and a beta of 0.34. Coterra Energy Inc. has a 1-year low of $22.46 and a 1-year high of $29.95.

Coterra Energy (NYSE:CTRA) last posted its quarterly earnings data on Monday, August 4th. The company reported $0.48 earnings per share for the quarter, missing the consensus estimate of $0.50 by ($0.02). Coterra Energy had a return on equity of 10.99% and a net margin of 23.80%.The company had revenue of $1.97 billion during the quarter, compared to the consensus estimate of $1.78 billion. During the same quarter last year, the company posted $0.37 earnings per share. The firm’s revenue for the quarter was up 54.6% on a year-over-year basis. Sell-side analysts predict that Coterra Energy Inc. will post 1.54 EPS for the current fiscal year.

Coterra Energy Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 28th. Shareholders of record on Thursday, August 14th were given a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a yield of 3.8%. The ex-dividend date was Thursday, August 14th. Coterra Energy’s dividend payout ratio (DPR) is presently 42.11%.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on CTRA. The Goldman Sachs Group reiterated a “neutral” rating and issued a $31.00 price objective on shares of Coterra Energy in a research note on Tuesday, July 1st. Wells Fargo & Company lifted their price objective on shares of Coterra Energy from $32.00 to $33.00 and gave the stock an “overweight” rating in a report on Thursday, August 14th. Raymond James Financial reaffirmed an “outperform” rating and set a $34.00 price objective (down from $38.00) on shares of Coterra Energy in a report on Thursday, September 11th. Piper Sandler boosted their price target on shares of Coterra Energy from $37.00 to $39.00 and gave the stock an “overweight” rating in a report on Thursday, August 14th. Finally, Mizuho cut their price target on shares of Coterra Energy from $36.00 to $33.00 and set an “outperform” rating on the stock in a report on Monday, September 15th. Fourteen research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $33.22.

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.