Coterra Energy Inc. $CTRA Shares Bought by Mirae Asset Global Investments Co. Ltd.

Mirae Asset Global Investments Co. Ltd. grew its position in Coterra Energy Inc. (NYSE:CTRA) by 3.8% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 816,085 shares of the company’s stock after purchasing an additional 30,250 shares during the period. Mirae Asset Global Investments Co. Ltd. owned approximately 0.11% of Coterra Energy worth $19,300,000 at the end of the most recent quarter.

Several other institutional investors have also recently modified their holdings of CTRA. Bogart Wealth LLC purchased a new stake in Coterra Energy in the second quarter valued at approximately $26,000. REAP Financial Group LLC lifted its stake in Coterra Energy by 190.1% during the 2nd quarter. REAP Financial Group LLC now owns 1,108 shares of the company’s stock valued at $28,000 after acquiring an additional 726 shares during the period. Tobam boosted its holdings in shares of Coterra Energy by 50.9% in the 2nd quarter. Tobam now owns 1,823 shares of the company’s stock valued at $46,000 after acquiring an additional 615 shares during the last quarter. CYBER HORNET ETFs LLC acquired a new stake in shares of Coterra Energy in the second quarter worth $50,000. Finally, Steigerwald Gordon & Koch Inc. purchased a new position in shares of Coterra Energy during the third quarter worth $50,000. 87.92% of the stock is currently owned by hedge funds and other institutional investors.

Coterra Energy Stock Performance

Shares of CTRA stock opened at $28.09 on Friday. The company has a market capitalization of $21.39 billion, a P/E ratio of 12.94, a P/E/G ratio of 0.66 and a beta of 0.36. Coterra Energy Inc. has a 12-month low of $22.33 and a 12-month high of $29.82. The business’s 50 day moving average is $26.25 and its two-hundred day moving average is $24.88. The company has a current ratio of 1.02, a quick ratio of 0.98 and a debt-to-equity ratio of 0.25.

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

Coterra Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, November 26th. Shareholders of record on Thursday, November 13th were paid a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a yield of 3.1%. The ex-dividend date was Thursday, November 13th. Coterra Energy’s payout ratio is 40.55%.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the stock. Scotiabank set a $31.00 price target on shares of Coterra Energy in a report on Friday, January 16th. Zacks Research cut Coterra Energy from a “hold” rating to a “strong sell” rating in a report on Monday, January 19th. William Blair began coverage on Coterra Energy in a report on Wednesday, November 26th. They set an “outperform” rating and a $36.00 target price on the stock. Roth Mkm lifted their price target on Coterra Energy from $27.00 to $30.00 and gave the company a “buy” rating in a research report on Friday, January 23rd. Finally, Wolfe Research boosted their price target on Coterra Energy from $32.00 to $33.00 and gave the company an “outperform” rating in a report on Monday. Sixteen investment analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Coterra Energy has an average rating of “Moderate Buy” and an average price target of $32.76.

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.