Assetmark Inc. Buys 9,840 Shares of Coterra Energy Inc. (NYSE:CTRA)

Assetmark Inc. lifted its stake in Coterra Energy Inc. (NYSE:CTRA) by 11.7% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 93,849 shares of the company’s stock after buying an additional 9,840 shares during the quarter. Assetmark Inc.’s holdings in Coterra Energy were worth $2,248,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently made changes to their positions in CTRA. Bank of Montreal Can increased its holdings in Coterra Energy by 160.1% in the 2nd quarter. Bank of Montreal Can now owns 2,898,876 shares of the company’s stock worth $80,154,000 after acquiring an additional 1,784,192 shares in the last quarter. Marshall Wace LLP boosted its position in shares of Coterra Energy by 5,325.5% in the second quarter. Marshall Wace LLP now owns 1,148,569 shares of the company’s stock worth $30,632,000 after purchasing an additional 1,127,399 shares during the period. Clearbridge Investments LLC purchased a new stake in shares of Coterra Energy in the first quarter worth $28,967,000. American Century Companies Inc. raised its position in shares of Coterra Energy by 29.1% during the 2nd quarter. American Century Companies Inc. now owns 4,498,227 shares of the company’s stock valued at $119,968,000 after purchasing an additional 1,013,107 shares during the period. Finally, Earnest Partners LLC lifted its stake in shares of Coterra Energy by 37.5% during the 1st quarter. Earnest Partners LLC now owns 1,918,569 shares of the company’s stock valued at $53,490,000 after buying an additional 523,480 shares in the last quarter. Institutional investors own 87.92% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on CTRA shares. Susquehanna cut their price target on Coterra Energy from $33.00 to $30.00 and set a “positive” rating for the company in a research note on Wednesday, September 4th. Scotiabank cut their target price on Coterra Energy from $35.00 to $32.00 and set a “sector outperform” rating for the company in a research report on Thursday, October 10th. UBS Group decreased their target price on Coterra Energy from $34.00 to $31.00 and set a “buy” rating on the stock in a research note on Wednesday, September 18th. Roth Mkm upgraded Coterra Energy from a “neutral” rating to a “buy” rating and upped their price target for the stock from $25.00 to $29.00 in a research note on Tuesday, August 27th. Finally, JPMorgan Chase & Co. cut their price objective on shares of Coterra Energy from $31.00 to $26.00 and set an “overweight” rating for the company in a report on Thursday, September 12th. Two investment analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $31.29.

Coterra Energy Trading Up 1.6 %

CTRA opened at $25.61 on Thursday. The company has a current ratio of 1.61, a quick ratio of 1.56 and a debt-to-equity ratio of 0.16. The firm has a market cap of $18.86 billion, a price-to-earnings ratio of 15.43, a PEG ratio of 1.64 and a beta of 0.22. Coterra Energy Inc. has a 12 month low of $22.30 and a 12 month high of $28.90. The stock has a fifty day moving average price of $23.86 and a 200-day moving average price of $25.50.

Coterra Energy (NYSE:CTRA) last announced its earnings results on Thursday, October 31st. The company reported $0.32 earnings per share for the quarter, missing the consensus estimate of $0.35 by ($0.03). The business had revenue of $1.36 billion for the quarter, compared to analysts’ expectations of $1.28 billion. Coterra Energy had a return on equity of 9.38% and a net margin of 21.91%. The firm’s quarterly revenue was up .2% compared to the same quarter last year. During the same quarter last year, the firm earned $0.47 earnings per share. As a group, equities research analysts anticipate that Coterra Energy Inc. will post 1.53 earnings per share for the current fiscal year.

Coterra Energy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 27th. Stockholders of record on Thursday, November 14th will be paid a $0.21 dividend. The ex-dividend date of this dividend is Thursday, November 14th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 3.28%. Coterra Energy’s payout ratio is currently 50.60%.

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.