ProShare Advisors LLC Has $4.29 Million Stake in Coterra Energy Inc. (NYSE:CTRA)

ProShare Advisors LLC increased its stake in Coterra Energy Inc. (NYSE:CTRA) by 25.8% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 160,840 shares of the company’s stock after purchasing an additional 32,993 shares during the quarter. ProShare Advisors LLC’s holdings in Coterra Energy were worth $4,290,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the stock. Profund Advisors LLC increased its stake in Coterra Energy by 8.0% in the second quarter. Profund Advisors LLC now owns 39,972 shares of the company’s stock valued at $1,066,000 after purchasing an additional 2,963 shares in the last quarter. Sei Investments Co. grew its stake in shares of Coterra Energy by 10.1% in the 2nd quarter. Sei Investments Co. now owns 1,955,907 shares of the company’s stock valued at $52,164,000 after buying an additional 179,240 shares during the period. AE Wealth Management LLC increased its position in Coterra Energy by 36.1% in the 2nd quarter. AE Wealth Management LLC now owns 11,481 shares of the company’s stock valued at $306,000 after buying an additional 3,046 shares in the last quarter. King Luther Capital Management Corp raised its stake in Coterra Energy by 4.4% during the 2nd quarter. King Luther Capital Management Corp now owns 6,783,690 shares of the company’s stock worth $180,921,000 after buying an additional 285,774 shares during the period. Finally, Benjamin F. Edwards & Company Inc. boosted its holdings in Coterra Energy by 12.7% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 88,734 shares of the company’s stock worth $2,366,000 after acquiring an additional 10,000 shares in the last quarter. Institutional investors and hedge funds own 87.92% of the company’s stock.

Coterra Energy Stock Performance

Shares of CTRA opened at $23.06 on Friday. The stock has a 50 day moving average of $24.13 and a 200 day moving average of $26.32. The company has a current ratio of 1.40, a quick ratio of 1.38 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 company has a market capitalization of $17.04 billion, a price-to-earnings ratio of 13.33, a PEG ratio of 1.37 and a beta of 0.22.

Coterra Energy (NYSE:CTRA) last released its earnings results 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 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 company’s revenue for the quarter was up 7.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.38 earnings per share. As a group, sell-side analysts forecast that Coterra Energy Inc. will post 1.74 earnings per share for the current year.

Coterra Energy Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, August 29th. Stockholders of record on Thursday, August 15th were given a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 3.64%. The ex-dividend date of this dividend was Thursday, August 15th. Coterra Energy’s dividend payout ratio is currently 48.55%.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the company. Piper Sandler decreased their price objective on Coterra Energy from $39.00 to $31.00 and set an “overweight” rating for the company in a report on Thursday, August 15th. UBS Group decreased their price target on shares of Coterra Energy from $34.00 to $31.00 and set a “buy” rating for the company in a research note on Wednesday, September 18th. Bank of America restated a “buy” rating and set a $34.00 price objective on shares of Coterra Energy in a report on Friday, June 14th. JPMorgan Chase & Co. reduced 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. Finally, Roth Capital upgraded shares of Coterra Energy from a “hold” rating to a “strong-buy” rating in a report on Tuesday, August 27th. Two equities research 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 MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $32.59.

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.