65,074 Shares in Coterra Energy Inc. (NYSE:CTRA) Purchased by XTX Topco Ltd

XTX Topco Ltd purchased a new stake in Coterra Energy Inc. (NYSE:CTRA) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 65,074 shares of the company’s stock, valued at approximately $1,736,000.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Fortitude Family Office LLC boosted its holdings in shares of Coterra Energy by 154.9% in the 2nd 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 last quarter. Larson Financial Group LLC grew its position in Coterra Energy by 98.0% during 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 period. Central Pacific Bank Trust Division acquired a new stake in Coterra Energy during the first quarter worth about $44,000. Harbor Investment Advisory LLC raised its holdings in shares of Coterra Energy by 869.3% in the 1st 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 during the period. Finally, Northwest Investment Counselors LLC acquired a new position in shares of Coterra Energy in the 1st quarter valued at about $47,000. Institutional investors and hedge funds own 87.92% of the company’s stock.

Coterra Energy Price Performance

Shares of Coterra Energy stock opened at $23.57 on Friday. Coterra Energy Inc. has a 1-year low of $22.30 and a 1-year high of $29.89. The firm has a fifty day simple moving average of $24.49 and a 200-day simple moving average of $26.42. The company has a current ratio of 1.40, a quick ratio of 1.38 and a debt-to-equity ratio of 0.16. The stock has a market capitalization of $17.54 billion, a price-to-earnings ratio of 13.62, a PEG ratio of 1.16 and a beta of 0.22.

Coterra Energy (NYSE:CTRA) last released its quarterly earnings results on Thursday, August 1st. The company reported $0.37 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 net margin of 23.18% and a return on equity of 10.48%. The firm’s revenue was up 7.3% on a year-over-year basis. During the same quarter last year, the company earned $0.38 earnings per share. On average, sell-side analysts expect that Coterra Energy Inc. will post 1.95 earnings per share for the current year.

Coterra Energy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 29th. Stockholders of record on Thursday, August 15th were paid a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a dividend yield of 3.56%. The ex-dividend date of this dividend was Thursday, August 15th. Coterra Energy’s dividend payout ratio is 48.55%.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on CTRA. Bank of America reissued a “buy” rating and set a $34.00 target price on shares of Coterra Energy in a research report on Friday, June 14th. JPMorgan Chase & Co. dropped their price objective on shares of Coterra Energy from $31.00 to $26.00 and set an “overweight” rating for the company in a research report on Thursday, September 12th. Wolfe Research began coverage on shares of Coterra Energy in a report on Thursday, July 18th. They set an “outperform” rating and a $35.00 target price on the stock. Susquehanna lowered their price target on Coterra Energy from $33.00 to $30.00 and set a “positive” rating for the company in a report on Wednesday, September 4th. Finally, Citigroup boosted their price objective on Coterra Energy from $30.00 to $31.00 and gave the stock a “buy” rating in a research note on Friday, May 24th. Two investment analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $32.59.

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.