Pacer Advisors Inc. grew its stake in shares of Coterra Energy Inc. (NYSE:CTRA – Free Report) by 5.7% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 9,702,875 shares of the company’s stock after buying an additional 521,647 shares during the quarter. Coterra Energy comprises 1.0% of Pacer Advisors Inc.’s holdings, making the stock its 28th biggest position. Pacer Advisors Inc. owned about 1.28% of Coterra Energy worth $245,483,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Grey Fox Wealth Advisors LLC bought a new stake in Coterra Energy in the fourth quarter worth about $25,000. ICA Group Wealth Management LLC purchased a new stake in shares of Coterra Energy during the fourth quarter valued at $25,000. Bogart Wealth LLC acquired a new stake in Coterra Energy during the 1st quarter worth about $26,000. Stone House Investment Management LLC purchased a new stake in Coterra Energy during the first quarter valued at about $27,000. Finally, Ameritas Advisory Services LLC acquired a new position in shares of Coterra Energy in the first quarter worth about $30,000. 90.54% of the stock is currently owned by institutional investors.
Analyst Ratings Changes
A number of equities analysts recently commented on the stock. Truist Financial decreased their price objective on shares of Coterra Energy from $29.00 to $26.00 and set a “hold” rating for the company in a research note on Monday, July 24th. JPMorgan Chase & Co. raised Coterra Energy from a “neutral” rating to an “overweight” rating and reduced their price objective for the stock from $33.00 to $31.00 in a research note on Tuesday, June 27th. Stephens reaffirmed an “overweight” rating and set a $32.00 target price on shares of Coterra Energy in a research note on Tuesday, August 8th. Mizuho reaffirmed a “buy” rating and set a $42.00 price objective on shares of Coterra Energy in a research report on Tuesday. Finally, UBS Group increased their target price on shares of Coterra Energy from $25.00 to $33.00 and gave the stock a “neutral” rating in a research report on Thursday, August 17th. Thirteen research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $31.00.
Coterra Energy Stock Performance
NYSE CTRA traded down $0.26 during trading on Tuesday, reaching $27.64. The company’s stock had a trading volume of 1,531,781 shares, compared to its average volume of 7,511,113. The company has a current ratio of 1.74, a quick ratio of 1.67 and a debt-to-equity ratio of 0.17. Coterra Energy Inc. has a 12 month low of $22.25 and a 12 month high of $31.76. The firm has a market capitalization of $20.87 billion, a price-to-earnings ratio of 6.95, a price-to-earnings-growth ratio of 0.23 and a beta of 0.29. The firm has a 50 day moving average price of $27.56 and a 200 day moving average price of $25.74.
Coterra Energy (NYSE:CTRA – Get Free Report) last released its quarterly earnings data on Monday, August 7th. The company reported $0.38 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.36 by $0.02. The company had revenue of $1.19 billion during the quarter, compared to the consensus estimate of $1.28 billion. Coterra Energy had a return on equity of 23.06% and a net margin of 40.12%. As a group, equities analysts anticipate that Coterra Energy Inc. will post 2.25 EPS for the current fiscal year.
Coterra Energy Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 31st. Stockholders of record on Thursday, August 17th were paid a $0.20 dividend. The ex-dividend date was Wednesday, August 16th. This represents a $0.80 annualized dividend and a dividend yield of 2.89%. Coterra Energy’s dividend payout ratio is currently 20.05%.
Coterra Energy Company 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 primarily focuses on the Marcellus Shale with approximately 183,000 net acres in the dry gas window of the play located in Susquehanna County, Pennsylvania.
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