Coterra Energy Inc. $CTRA Stock Position Raised by Mirae Asset Global Investments Co. Ltd.

Mirae Asset Global Investments Co. Ltd. grew its position in shares of Coterra Energy Inc. (NYSE:CTRA) by 15.4% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 785,835 shares of the company’s stock after buying an additional 104,999 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in Coterra Energy were worth $19,944,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC grew its position in Coterra Energy by 7.6% in the first quarter. Allspring Global Investments Holdings LLC now owns 123,054 shares of the company’s stock worth $3,577,000 after acquiring an additional 8,726 shares in the last quarter. Vontobel Holding Ltd. acquired a new stake in shares of Coterra Energy in the 1st quarter valued at $233,000. Truist Financial Corp boosted its holdings in Coterra Energy by 165.3% in the second quarter. Truist Financial Corp now owns 4,213,315 shares of the company’s stock worth $106,934,000 after purchasing an additional 2,625,126 shares in the last quarter. Janney Montgomery Scott LLC increased its position in Coterra Energy by 9.4% during the first quarter. Janney Montgomery Scott LLC now owns 251,726 shares of the company’s stock worth $7,275,000 after buying an additional 21,733 shares during the last quarter. Finally, Wealth Advisory Solutions LLC bought a new position in Coterra Energy during the second quarter valued at about $342,000. Institutional investors and hedge funds own 87.92% of the company’s stock.

Coterra Energy Stock Up 0.6%

CTRA opened at $23.30 on Friday. Coterra Energy Inc. has a 1-year low of $22.46 and a 1-year high of $29.95. The business has a 50 day moving average of $23.93 and a 200-day moving average of $24.99. The stock has a market capitalization of $17.78 billion, a price-to-earnings ratio of 11.15, a P/E/G ratio of 0.33 and a beta of 0.29. The company has a current ratio of 1.13, a quick ratio of 1.08 and a debt-to-equity ratio of 0.29.

Coterra Energy (NYSE:CTRA) last released its earnings results on Monday, August 4th. The company reported $0.48 EPS for the quarter, missing the consensus estimate of $0.50 by ($0.02). The company had revenue of $1.97 billion for the quarter, compared to analyst estimates of $1.78 billion. Coterra Energy had a net margin of 23.80% and a return on equity of 10.99%. Coterra Energy’s revenue for the quarter was up 54.6% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.37 earnings per share. As a group, sell-side analysts anticipate that Coterra Energy Inc. will post 1.54 earnings per share for the current year.

Coterra Energy Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, August 28th. Investors of record on Thursday, August 14th were paid a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a yield of 3.8%. The ex-dividend date was Thursday, August 14th. Coterra Energy’s payout ratio is currently 42.11%.

Wall Street Analysts Forecast Growth

CTRA has been the subject of several recent analyst reports. Weiss Ratings reiterated a “hold (c)” rating on shares of Coterra Energy in a research note on Saturday, September 27th. Piper Sandler upped their target price on Coterra Energy from $37.00 to $39.00 and gave the stock an “overweight” rating in a research report on Thursday, August 14th. Raymond James Financial reissued an “outperform” rating and issued a $34.00 price target (down previously from $38.00) on shares of Coterra Energy in a research report on Thursday, September 11th. Mizuho decreased their price objective on shares of Coterra Energy from $36.00 to $33.00 and set an “outperform” rating for the company in a report on Monday, September 15th. Finally, Barclays raised their target price on shares of Coterra Energy from $35.00 to $37.00 and gave the company an “overweight” rating in a research note on Monday, July 7th. Fourteen equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $33.22.

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’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.