Coterra Energy Inc. (NYSE:CTRA) Shares Bought by American Century Companies Inc.

American Century Companies Inc. raised its position in Coterra Energy Inc. (NYSE:CTRA) by 29.1% in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 4,498,227 shares of the company’s stock after buying an additional 1,013,107 shares during the period. American Century Companies Inc. owned about 0.60% of Coterra Energy worth $119,968,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of CTRA. Mitsubishi UFJ Asset Management Co. Ltd. boosted its holdings in Coterra Energy by 8.5% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 798,899 shares of the company’s stock valued at $20,683,000 after purchasing an additional 62,684 shares during the last quarter. Janney Montgomery Scott LLC grew its position in shares of Coterra Energy by 2.2% in the 4th quarter. Janney Montgomery Scott LLC now owns 215,700 shares of the company’s stock valued at $5,504,000 after buying an additional 4,731 shares during the last quarter. Beacon Pointe Advisors LLC grew its position in shares of Coterra Energy by 5.8% in the 4th quarter. Beacon Pointe Advisors LLC now owns 44,303 shares of the company’s stock valued at $1,131,000 after buying an additional 2,420 shares during the last quarter. Fiera Capital Corp acquired a new stake in Coterra Energy during the 4th quarter worth $531,000. Finally, Navellier & Associates Inc. boosted its stake in Coterra Energy by 28.9% during the 4th quarter. Navellier & Associates Inc. now owns 19,243 shares of the company’s stock worth $491,000 after purchasing an additional 4,315 shares during the period. Hedge funds and other institutional investors own 87.92% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the stock. Bank of America reiterated a “buy” rating and issued a $34.00 price target on shares of Coterra Energy in a report on Friday, June 14th. Piper Sandler decreased their target price on shares of Coterra Energy from $39.00 to $31.00 and set an “overweight” rating on the stock in a research report on Thursday, August 15th. UBS Group reduced their price target on shares of Coterra Energy from $36.00 to $34.00 and set a “buy” rating on the stock in a research report on Thursday, August 8th. BMO Capital Markets raised shares of Coterra Energy to a “hold” rating in a research report on Wednesday, July 3rd. Finally, Wolfe Research assumed coverage on shares of Coterra Energy in a research note on Thursday, July 18th. They issued an “outperform” rating and a $35.00 price target for the company. Two analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Coterra Energy has a consensus rating of “Moderate Buy” and an average target price of $32.88.

Coterra Energy Stock Performance

Coterra Energy stock opened at $22.78 on Friday. The stock has a 50-day simple moving average of $24.84 and a 200 day simple moving average of $26.51. The company has a quick ratio of 1.38, a current ratio of 1.40 and a debt-to-equity ratio of 0.16. Coterra Energy Inc. has a 12-month low of $22.30 and a 12-month high of $29.89. The stock has a market capitalization of $16.95 billion, a price-to-earnings ratio of 13.17, a P/E/G ratio of 1.16 and a beta of 0.22.

Coterra Energy (NYSE:CTRA) last announced its quarterly earnings data on Thursday, August 1st. The company reported $0.37 earnings per share for the quarter, missing the consensus estimate of $0.39 by ($0.02). The firm had revenue of $1.27 billion for the quarter, compared to the consensus estimate of $1.32 billion. Coterra Energy had a return on equity of 10.48% and a net margin of 23.18%. The business’s revenue for the quarter was up 7.3% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.38 earnings per share. On average, research analysts anticipate that Coterra Energy Inc. will post 1.95 earnings per share for the current fiscal year.

Coterra Energy Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 29th. Shareholders of record on Thursday, August 15th were issued a dividend of $0.21 per share. The ex-dividend date of this dividend was Thursday, August 15th. This represents a $0.84 annualized dividend and a yield of 3.69%. Coterra Energy’s dividend payout ratio is presently 48.55%.

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.