Coterra Energy Inc. $CTRA Shares Bought by Bessemer Group Inc.

Bessemer Group Inc. raised its holdings in Coterra Energy Inc. (NYSE:CTRA) by 31.4% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 21,295 shares of the company’s stock after buying an additional 5,090 shares during the period. Bessemer Group Inc.’s holdings in Coterra Energy were worth $541,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of CTRA. Vanguard Group Inc. boosted its holdings in Coterra Energy by 4.3% in the first quarter. Vanguard Group Inc. now owns 92,337,673 shares of the company’s stock valued at $2,668,559,000 after purchasing an additional 3,818,700 shares during the period. Wellington Management Group LLP boosted its stake in shares of Coterra Energy by 15.3% in the 1st quarter. Wellington Management Group LLP now owns 83,631,117 shares of the company’s stock valued at $2,416,939,000 after buying an additional 11,102,350 shares during the period. Charles Schwab Investment Management Inc. grew its position in shares of Coterra Energy by 7.8% during the first quarter. Charles Schwab Investment Management Inc. now owns 25,304,940 shares of the company’s stock worth $731,313,000 after buying an additional 1,837,614 shares in the last quarter. Victory Capital Management Inc. grew its position in shares of Coterra Energy by 5.7% during the first quarter. Victory Capital Management Inc. now owns 18,828,688 shares of the company’s stock worth $544,149,000 after buying an additional 1,019,995 shares in the last quarter. Finally, Invesco Ltd. increased its stake in shares of Coterra Energy by 1.2% during the first quarter. Invesco Ltd. now owns 12,384,728 shares of the company’s stock worth $357,919,000 after buying an additional 152,244 shares during the period. Institutional investors and hedge funds own 87.92% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have commented on CTRA shares. The Goldman Sachs Group lowered their price target on shares of Coterra Energy from $30.00 to $29.00 and set a “neutral” rating for the company in a report on Wednesday, October 15th. Barclays decreased their price objective on shares of Coterra Energy from $37.00 to $35.00 and set an “overweight” rating for the company in a research report on Tuesday, October 7th. Siebert Williams Shank dropped their target price on Coterra Energy from $35.00 to $32.00 and set a “buy” rating on the stock in a report on Monday, October 13th. Raymond James Financial decreased their price target on Coterra Energy from $34.00 to $28.00 in a report on Tuesday, October 28th. Finally, Mizuho lowered their price objective on Coterra Energy from $36.00 to $33.00 and set an “outperform” rating for the company in a research report on Monday, September 15th. Sixteen research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $32.30.

Coterra Energy Price Performance

Shares of CTRA opened at $23.69 on Friday. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.13 and a quick ratio of 1.08. Coterra Energy Inc. has a 1-year low of $22.33 and a 1-year high of $29.95. The stock has a market cap of $18.07 billion, a PE ratio of 11.33, a price-to-earnings-growth ratio of 0.36 and a beta of 0.29. The firm has a fifty day moving average price of $23.76 and a 200 day moving average price of $24.44.

Coterra Energy (NYSE:CTRA) last issued its quarterly earnings data on Monday, August 4th. The company reported $0.48 earnings per share (EPS) 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 firm had revenue of $1.97 billion for the quarter, compared to analysts’ expectations of $1.78 billion. During the same period in the previous year, the business posted $0.37 EPS. The business’s revenue for the quarter was up 54.6% compared to the same quarter last year. As a group, sell-side analysts anticipate that Coterra Energy Inc. will post 1.54 EPS for the current year.

Coterra Energy Dividend Announcement

The company 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. The ex-dividend date of this dividend was Thursday, August 14th. This represents a $0.88 annualized dividend and a yield of 3.7%. Coterra Energy’s payout ratio is 42.11%.

Coterra Energy 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.