Acadian Asset Management LLC Makes New $1.81 Million Investment in Coterra Energy Inc. (NYSE:CTRA)

Acadian Asset Management LLC acquired a new stake in Coterra Energy Inc. (NYSE:CTRA) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 67,785 shares of the company’s stock, valued at approximately $1,807,000.

Other hedge funds also recently bought and sold shares of the company. Fortitude Family Office LLC boosted its holdings in Coterra Energy by 154.9% in the second quarter. Fortitude Family Office LLC now owns 933 shares of the company’s stock valued at $25,000 after purchasing an additional 567 shares during the period. Larson Financial Group LLC lifted its position in Coterra Energy by 98.0% in the second quarter. Larson Financial Group LLC now owns 1,081 shares of the company’s stock valued at $29,000 after acquiring an additional 535 shares during the last quarter. Central Pacific Bank Trust Division acquired a new position in Coterra Energy in the first quarter valued at $44,000. Harbor Investment Advisory LLC increased its position in shares of Coterra Energy by 869.3% during the first quarter. Harbor Investment Advisory LLC now owns 1,609 shares of the company’s stock worth $45,000 after purchasing an additional 1,443 shares in the last quarter. Finally, Northwest Investment Counselors LLC purchased a new stake in shares of Coterra Energy in the 1st quarter valued at about $47,000. Hedge funds and other institutional investors own 87.92% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on CTRA shares. Citigroup lifted their price objective on Coterra Energy from $30.00 to $31.00 and gave the company a “buy” rating in a report on Friday, May 24th. Bank of America reiterated a “buy” rating and issued a $34.00 price objective on shares of Coterra Energy in a research report on Friday, June 14th. Wolfe Research initiated coverage on shares of Coterra Energy in a report on Thursday, July 18th. They set an “outperform” rating and a $35.00 target price for the company. BMO Capital Markets upgraded shares of Coterra Energy to a “hold” rating in a report on Wednesday, July 3rd. Finally, UBS Group reduced their target price on Coterra Energy from $36.00 to $34.00 and set a “buy” rating on the stock in a research report on Thursday, August 8th. Two investment analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average 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 market cap of $16.95 billion, a price-to-earnings ratio of 13.17, a price-to-earnings-growth ratio of 1.16 and a beta of 0.22. 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 business has a 50 day moving average price of $24.77 and a two-hundred day moving average price of $26.49.

Coterra Energy (NYSE:CTRA) last posted its quarterly earnings data on Thursday, August 1st. The company reported $0.37 EPS for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.02). The business had revenue of $1.27 billion during the quarter, compared to analyst estimates of $1.32 billion. Coterra Energy had a return on equity of 10.48% and a net margin of 23.18%. Coterra Energy’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 EPS. As a group, equities analysts forecast that Coterra Energy Inc. will post 1.95 EPS for the current year.

Coterra Energy Announces Dividend

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

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.