Point72 Hong Kong Ltd Invests $745,000 in Coterra Energy Inc. (NYSE:CTRA)

Point72 Hong Kong Ltd purchased a new position in Coterra Energy Inc. (NYSE:CTRA) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 27,922 shares of the company’s stock, valued at approximately $745,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Fortitude Family Office LLC grew its stake in shares of Coterra Energy by 154.9% in the second quarter. Fortitude Family Office LLC now owns 933 shares of the company’s stock worth $25,000 after acquiring an additional 567 shares during the last quarter. Larson Financial Group LLC grew its position in Coterra Energy by 98.0% during the 2nd quarter. Larson Financial Group LLC now owns 1,081 shares of the company’s stock valued at $29,000 after purchasing an additional 535 shares during the last quarter. Central Pacific Bank Trust Division bought a new stake in Coterra Energy during the 1st quarter valued at about $44,000. Harbor Investment Advisory LLC raised its holdings in Coterra Energy by 869.3% in the first quarter. Harbor Investment Advisory LLC now owns 1,609 shares of the company’s stock worth $45,000 after buying an additional 1,443 shares during the last quarter. Finally, Northwest Investment Counselors LLC bought a new position in shares of Coterra Energy in the first quarter worth approximately $47,000. Institutional investors own 87.92% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on CTRA shares. Piper Sandler decreased their price objective on shares of Coterra Energy from $39.00 to $31.00 and set an “overweight” rating for the company in a report on Thursday, August 15th. Susquehanna decreased 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. JPMorgan Chase & Co. dropped their price objective on Coterra Energy from $31.00 to $26.00 and set an “overweight” rating on the stock in a research report on Thursday, September 12th. Wolfe Research began coverage on Coterra Energy in a research report on Thursday, July 18th. They issued an “outperform” rating and a $35.00 target price for the company. Finally, Roth Mkm upgraded shares of Coterra Energy from a “neutral” rating to a “buy” rating and upped their target price for the company from $25.00 to $29.00 in a research note on Tuesday, August 27th. Two analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $32.59.

Coterra Energy Trading Down 0.9 %

Shares of NYSE:CTRA opened at $23.06 on Friday. Coterra Energy Inc. has a 12-month low of $22.30 and a 12-month high of $29.89. The company has a market cap of $17.04 billion, a PE ratio of 13.33, a price-to-earnings-growth ratio of 1.37 and a beta of 0.22. 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 (NYSE:CTRA) last announced its quarterly earnings data 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). Coterra Energy had a return on equity of 10.48% and a net margin of 23.18%. The firm had revenue of $1.27 billion during the quarter, compared to analysts’ expectations of $1.32 billion. During the same period last year, the company earned $0.38 earnings per share. The business’s revenue for the quarter was up 7.3% on a year-over-year basis. As a group, equities research analysts expect that Coterra Energy Inc. will post 1.74 EPS for the current year.

Coterra Energy Announces Dividend

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

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.