Perpetual Ltd Purchases Shares of 29,707 Coterra Energy Inc. $CTRA

Perpetual Ltd acquired a new position in shares of Coterra Energy Inc. (NYSE:CTRA) in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 29,707 shares of the company’s stock, valued at approximately $703,000.

A number of other hedge funds have also made changes to their positions in the business. GAMMA Investing LLC boosted its position in Coterra Energy by 2.1% during the 3rd quarter. GAMMA Investing LLC now owns 22,763 shares of the company’s stock worth $538,000 after purchasing an additional 462 shares during the period. Wellington Shields Capital Management LLC raised its position in Coterra Energy by 5.4% in the second quarter. Wellington Shields Capital Management LLC now owns 9,725 shares of the company’s stock valued at $247,000 after purchasing an additional 500 shares during the period. Elevation Point Wealth Partners LLC lifted its stake in shares of Coterra Energy by 1.1% during the second quarter. Elevation Point Wealth Partners LLC now owns 50,333 shares of the company’s stock worth $1,277,000 after purchasing an additional 531 shares in the last quarter. Fifth Third Wealth Advisors LLC boosted its position in shares of Coterra Energy by 5.3% in the second quarter. Fifth Third Wealth Advisors LLC now owns 10,534 shares of the company’s stock worth $267,000 after buying an additional 533 shares during the period. Finally, MassMutual Private Wealth & Trust FSB boosted its position in shares of Coterra Energy by 26.1% in the second quarter. MassMutual Private Wealth & Trust FSB now owns 2,685 shares of the company’s stock worth $68,000 after buying an additional 555 shares during the period. Hedge funds and other institutional investors own 87.92% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently commented on the company. Raymond James Financial raised their target price on Coterra Energy from $28.00 to $31.00 and gave the company an “outperform” rating in a report on Monday, November 24th. JPMorgan Chase & Co. lowered their price objective on shares of Coterra Energy from $35.00 to $34.00 and set an “overweight” rating for the company in a research report on Wednesday, November 5th. Roth Capital reiterated a “buy” rating and set a $27.00 price objective on shares of Coterra Energy in a research note on Tuesday, November 4th. Scotiabank reduced their target price on shares of Coterra Energy from $35.00 to $32.00 and set a “sector outperform” rating on the stock in a research report on Thursday, October 9th. Finally, BMO Capital Markets decreased their target price on shares of Coterra Energy from $33.00 to $32.00 and set a “market perform” rating for the company in a research note on Monday, December 15th. Seventeen equities research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. According to MarketBeat, Coterra Energy has an average rating of “Moderate Buy” and an average target price of $32.86.

Coterra Energy Stock Down 0.1%

CTRA stock opened at $25.40 on Monday. The company has a current ratio of 1.02, a quick ratio of 0.98 and a debt-to-equity ratio of 0.25. The firm has a 50 day simple moving average of $25.36 and a 200-day simple moving average of $24.80. The company has a market capitalization of $19.34 billion, a P/E ratio of 11.71, a PEG ratio of 0.43 and a beta of 0.33. Coterra Energy Inc. has a twelve month low of $22.33 and a twelve month high of $29.95.

Coterra Energy (NYSE:CTRA) last posted its quarterly earnings data on Monday, November 3rd. The company reported $0.41 EPS for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.02). The company had revenue of $1.82 billion for the quarter, compared to the consensus estimate of $1.83 billion. Coterra Energy had a net margin of 23.25% and a return on equity of 11.23%. The company’s revenue was up 33.7% compared to the same quarter last year. During the same quarter last year, the company earned $0.32 earnings per share. On average, equities research analysts predict that Coterra Energy Inc. will post 1.54 earnings per share for the current fiscal year.

Coterra Energy Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, November 26th. Stockholders of record on Thursday, November 13th were given a dividend of $0.22 per share. The ex-dividend date of this dividend was Thursday, November 13th. This represents a $0.88 annualized dividend and a dividend yield of 3.5%. Coterra Energy’s dividend payout ratio (DPR) is presently 40.55%.

Coterra Energy Profile

Coterra Energy (NYSE: CTRA) is an independent oil and natural gas exploration and production company focused on the development, production and optimization of onshore hydrocarbon resources in the United States. The company’s operations center on the exploration, drilling, completion and production of crude oil, natural gas and natural gas liquids (NGLs), with an emphasis on maximizing operational efficiency and capital discipline across its asset base.

Its business activities include identifying and developing resource-rich acreage, operating producing wells, managing reservoir performance and marketing produced hydrocarbons to a range of midstream and energy customers.