Fisher Asset Management LLC Reduces Stock Position in Coterra Energy Inc. (NYSE:CTRA)

Fisher Asset Management LLC lowered its holdings in shares of Coterra Energy Inc. (NYSE:CTRA) by 11.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 12,498 shares of the company’s stock after selling 1,628 shares during the quarter. Fisher Asset Management LLC’s holdings in Coterra Energy were worth $319,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Acadian Asset Management LLC bought a new stake in Coterra Energy during the 3rd quarter valued at $766,000. Dark Forest Capital Management LP bought a new stake in Coterra Energy during the 3rd quarter valued at $766,000. LPL Financial LLC raised its position in Coterra Energy by 0.9% during the 3rd quarter. LPL Financial LLC now owns 313,844 shares of the company’s stock valued at $8,489,000 after purchasing an additional 2,948 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund bought a new stake in Coterra Energy during the 3rd quarter valued at $1,461,000. Finally, Meiji Yasuda Asset Management Co Ltd. raised its position in Coterra Energy by 4.2% during the 3rd quarter. Meiji Yasuda Asset Management Co Ltd. now owns 21,950 shares of the company’s stock valued at $594,000 after purchasing an additional 890 shares in the last quarter. Hedge funds and other institutional investors own 87.92% of the company’s stock.

Coterra Energy Stock Up 3.9 %

Coterra Energy stock opened at $27.65 on Tuesday. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.46 and a current ratio of 1.49. The business’s 50-day simple moving average is $27.67 and its two-hundred day simple moving average is $26.52. The company has a market cap of $20.58 billion, a PE ratio of 15.98, a PEG ratio of 1.25 and a beta of 0.21. Coterra Energy Inc. has a fifty-two week low of $23.65 and a fifty-two week high of $29.89.

Coterra Energy (NYSE:CTRA) last posted its quarterly earnings results on Thursday, May 2nd. The company reported $0.50 earnings per share for the quarter, beating the consensus estimate of $0.41 by $0.09. The business had revenue of $1.43 billion for the quarter, compared to the consensus estimate of $1.38 billion. Coterra Energy had a return on equity of 10.75% and a net margin of 23.34%. Equities analysts anticipate that Coterra Energy Inc. will post 2 EPS for the current year.

Coterra Energy Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, May 30th. Stockholders of record on Thursday, May 16th were paid a $0.21 dividend. The ex-dividend date was Wednesday, May 15th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 3.04%. Coterra Energy’s payout ratio is 48.55%.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the company. Stifel Nicolaus reduced their price target on Coterra Energy from $33.00 to $31.00 and set a “buy” rating for the company in a research report on Friday, March 22nd. Bank of America reissued a “buy” rating and issued a $34.00 price target on shares of Coterra Energy in a research report on Friday, June 14th. Morgan Stanley boosted their price target on Coterra Energy from $26.00 to $29.00 and gave the stock an “equal weight” rating in a research report on Wednesday, April 17th. Piper Sandler boosted their price target on Coterra Energy from $37.00 to $39.00 and gave the stock an “overweight” rating in a research report on Tuesday, May 14th. Finally, Truist Financial raised Coterra Energy from a “hold” rating to a “buy” rating and boosted their price target for the stock from $27.00 to $35.00 in a research report on Thursday, May 16th. One equities research analyst has rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to MarketBeat, Coterra Energy has a consensus rating of “Moderate Buy” and a consensus price target of $33.93.

About Coterra Energy

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.