Assenagon Asset Management S.A. Boosts Stock Holdings in Coterra Energy Inc. (NYSE:CTRA)

Assenagon Asset Management S.A. raised its position in shares of Coterra Energy Inc. (NYSE:CTRA) by 4.1% in the 2nd quarter, Holdings Channel.com reports. The firm owned 13,969 shares of the company’s stock after acquiring an additional 555 shares during the quarter. Assenagon Asset Management S.A.’s holdings in Coterra Energy were worth $373,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also bought and sold shares of CTRA. Vanguard Group Inc. lifted its stake in shares of Coterra Energy by 0.5% during the 4th quarter. Vanguard Group Inc. now owns 87,927,114 shares of the company’s stock valued at $2,243,900,000 after buying an additional 407,244 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Coterra Energy by 8.8% during the fourth quarter. Dimensional Fund Advisors LP now owns 10,465,383 shares of the company’s stock worth $267,089,000 after acquiring an additional 848,519 shares in the last quarter. Schroder Investment Management Group boosted its holdings in shares of Coterra Energy by 8.7% in the fourth quarter. Schroder Investment Management Group now owns 7,815,648 shares of the company’s stock worth $199,455,000 after acquiring an additional 628,132 shares during the period. Equity Investment Corp grew its position in shares of Coterra Energy by 4.7% in the first quarter. Equity Investment Corp now owns 3,205,661 shares of the company’s stock valued at $89,374,000 after purchasing an additional 143,454 shares in the last quarter. Finally, Captrust Financial Advisors raised its stake in shares of Coterra Energy by 4.6% during the 1st quarter. Captrust Financial Advisors now owns 2,952,024 shares of the company’s stock valued at $78,422,000 after purchasing an additional 128,720 shares during the period. 87.92% of the stock is owned by hedge funds and other institutional investors.

Coterra Energy Stock Performance

NYSE:CTRA opened at $24.16 on Friday. Coterra Energy Inc. has a 1-year low of $23.18 and a 1-year high of $29.89. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.49 and a quick ratio of 1.46. The business has a 50 day moving average of $25.76 and a 200 day moving average of $26.64. The company has a market capitalization of $17.98 billion, a price-to-earnings ratio of 13.97, a PEG ratio of 1.49 and a beta of 0.24.

Coterra Energy (NYSE:CTRA) last released its earnings results on Thursday, August 1st. The company reported $0.37 EPS for the quarter, missing the consensus estimate of $0.39 by ($0.02). The business 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 10.49%. Coterra Energy’s revenue for the quarter was up 7.3% on a year-over-year basis. During the same period in the prior year, the business posted $0.38 EPS. On average, sell-side analysts predict that Coterra Energy Inc. will post 2.02 earnings per share for the current fiscal year.

Coterra Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 29th. Stockholders of record on Thursday, August 15th will be issued a $0.21 dividend. The ex-dividend date of this dividend is Thursday, August 15th. This represents a $0.84 annualized dividend and a dividend yield of 3.48%. Coterra Energy’s dividend payout ratio is currently 48.55%.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the company. Susquehanna upped their price target on Coterra Energy from $32.00 to $33.00 and gave the company a “positive” rating in a research report on Tuesday, May 7th. Wolfe Research assumed 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. Truist Financial lowered their target price on shares of Coterra Energy from $35.00 to $34.00 and set a “buy” rating on the stock in a research note on Monday, July 22nd. Citigroup boosted their price target on shares of Coterra Energy from $30.00 to $31.00 and gave the company a “buy” rating in a research report on Friday, May 24th. Finally, UBS Group decreased their price target on shares of Coterra Energy from $36.00 to $34.00 and set a “buy” rating on the stock in a report on Thursday, August 8th. Two equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $33.56.

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.