Coterra Energy Inc. $CTRA Shares Purchased by Sound Shore Management Inc CT

Sound Shore Management Inc CT grew its stake in shares of Coterra Energy Inc. (NYSE:CTRA) by 11.8% in the second quarter, Holdings Channel.com reports. The fund owned 4,388,365 shares of the company’s stock after buying an additional 464,732 shares during the quarter. Coterra Energy comprises about 3.8% of Sound Shore Management Inc CT’s holdings, making the stock its 3rd biggest position. Sound Shore Management Inc CT’s holdings in Coterra Energy were worth $111,377,000 at the end of the most recent reporting period.

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

Coterra Energy Trading Down 0.4%

NYSE CTRA opened at $25.74 on Thursday. Coterra Energy Inc. has a 1-year low of $22.33 and a 1-year high of $29.95. The company has a current ratio of 1.13, a quick ratio of 1.08 and a debt-to-equity ratio of 0.29. The company has a market capitalization of $19.64 billion, a PE ratio of 12.32, a price-to-earnings-growth ratio of 0.36 and a beta of 0.29. The firm’s fifty day simple moving average is $23.84 and its 200-day simple moving average is $24.43.

Coterra Energy (NYSE:CTRA) last posted its quarterly 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 10.99% and a net margin of 23.80%.The company had revenue of $558.00 million during the quarter, compared to analyst estimates of $1.83 billion. During the same period last year, the company posted $0.32 earnings per share. The company’s revenue was up 33.7% compared to the same quarter last year. As a group, sell-side analysts anticipate that Coterra Energy Inc. will post 1.54 earnings per share for the current fiscal year.

Coterra Energy Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 26th. Stockholders of record on Thursday, November 13th will be paid a $0.22 dividend. The ex-dividend date of this dividend is Thursday, November 13th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 3.4%. Coterra Energy’s dividend payout ratio is 42.11%.

Analyst Upgrades and Downgrades

CTRA has been the subject of a number of recent research reports. Siebert Williams Shank cut their price objective on Coterra Energy from $35.00 to $32.00 and set a “buy” rating for the company in a research report on Monday, October 13th. Stephens cut their target price on shares of Coterra Energy from $34.00 to $33.00 and set an “overweight” rating on the stock in a research note on Tuesday, October 21st. UBS Group cut their target price on shares of Coterra Energy from $30.00 to $29.00 and set a “buy” rating on the stock in a research note on Tuesday, October 14th. Wells Fargo & Company boosted their target price on shares of Coterra Energy from $32.00 to $33.00 and gave the company an “overweight” rating in a research note on Thursday, August 14th. Finally, Piper Sandler cut their target price on shares of Coterra Energy from $39.00 to $38.00 and set an “overweight” rating on the stock in a research note on Tuesday, October 21st. Sixteen analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $32.35.

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.