Intact Investment Management Inc. Increases Stock Holdings in Coterra Energy Inc. $CTRA

Intact Investment Management Inc. grew its position in shares of Coterra Energy Inc. (NYSE:CTRA) by 30.0% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 168,200 shares of the company’s stock after acquiring an additional 38,800 shares during the quarter. Intact Investment Management Inc.’s holdings in Coterra Energy were worth $3,978,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in the company. Perigon Wealth Management LLC grew its stake in Coterra Energy by 12.4% in the 2nd quarter. Perigon Wealth Management LLC now owns 10,356 shares of the company’s stock valued at $263,000 after purchasing an additional 1,143 shares during the period. Hartford Investment Management Co. boosted its holdings in shares of Coterra Energy by 2.7% in the 2nd quarter. Hartford Investment Management Co. now owns 46,198 shares of the company’s stock worth $1,173,000 after buying an additional 1,213 shares during the last quarter. Patton Fund Management Inc. bought a new position in Coterra Energy during the second quarter valued at about $220,000. V Square Quantitative Management LLC grew its position in Coterra Energy by 8.6% during the second quarter. V Square Quantitative Management LLC now owns 11,573 shares of the company’s stock valued at $294,000 after buying an additional 913 shares during the period. Finally, Washington Capital Management Inc. grew its position in Coterra Energy by 27.7% during the second quarter. Washington Capital Management Inc. now owns 24,000 shares of the company’s stock valued at $609,000 after buying an additional 5,200 shares during the period. Institutional investors own 87.92% of the company’s stock.

Coterra Energy Price Performance

CTRA stock opened at $27.42 on Tuesday. The firm has a 50 day simple moving average of $26.13 and a two-hundred day simple moving average of $24.82. The stock has a market cap of $20.88 billion, a PE ratio of 12.64, a P/E/G ratio of 0.61 and a beta of 0.36. Coterra Energy Inc. has a one year low of $22.33 and a one year high of $29.82. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.02 and a quick ratio of 0.98.

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

Coterra Energy Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, November 26th. Investors of record on Thursday, November 13th were issued a $0.22 dividend. The ex-dividend date was Thursday, November 13th. This represents a $0.88 annualized dividend and a yield of 3.2%. Coterra Energy’s payout ratio is 40.55%.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on the stock. Raymond James Financial increased their target price on shares of Coterra Energy from $28.00 to $31.00 and gave the company an “outperform” rating in a research report on Monday, November 24th. Johnson Rice reduced their price objective on Coterra Energy from $38.00 to $37.00 in a report on Friday, December 5th. JPMorgan Chase & Co. lowered their target price on Coterra Energy from $34.00 to $31.00 and set an “overweight” rating on the stock in a research note on Monday, January 12th. Susquehanna upped their price target on Coterra Energy from $31.00 to $32.00 and gave the company a “positive” rating in a research report on Monday. Finally, BMO Capital Markets decreased their price objective on Coterra Energy from $33.00 to $32.00 and set a “market perform” rating for the company in a report on Monday, December 15th. Sixteen research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $32.81.

Coterra Energy Company 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.