AQR Capital Management LLC Boosts Stake in Coterra Energy Inc. (NYSE:CTRA)

AQR Capital Management LLC increased its stake in shares of Coterra Energy Inc. (NYSE:CTRA) by 7.2% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,844,737 shares of the company’s stock after buying an additional 190,470 shares during the quarter. AQR Capital Management LLC’s holdings in Coterra Energy were worth $75,869,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in CTRA. Fortitude Family Office LLC increased its holdings in Coterra Energy by 154.9% in the 2nd quarter. Fortitude Family Office LLC now owns 933 shares of the company’s stock worth $25,000 after buying an additional 567 shares during the period. Larson Financial Group LLC increased its stake in shares of Coterra Energy by 98.0% in the second quarter. Larson Financial Group LLC now owns 1,081 shares of the company’s stock worth $29,000 after acquiring an additional 535 shares during the period. Central Pacific Bank Trust Division purchased a new position in shares of Coterra Energy during the first quarter worth $44,000. Harbor Investment Advisory LLC lifted its position in Coterra Energy by 869.3% during the first quarter. Harbor Investment Advisory LLC now owns 1,609 shares of the company’s stock valued at $45,000 after purchasing an additional 1,443 shares during the period. Finally, Northwest Investment Counselors LLC purchased a new stake in Coterra Energy in the first quarter valued at $47,000. 87.92% of the stock is owned by institutional investors and hedge funds.

Coterra Energy Trading Up 2.9 %

Shares of Coterra Energy stock opened at $23.74 on Friday. 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 twelve month low of $22.30 and a twelve month high of $29.89. The firm has a market capitalization of $17.67 billion, a PE ratio of 13.72, a P/E/G ratio of 1.37 and a beta of 0.22. The firm’s 50-day moving average price is $24.07 and its 200 day moving average price is $26.30.

Coterra Energy (NYSE:CTRA) last released its earnings results on Thursday, August 1st. The company reported $0.37 earnings per share for the quarter, missing the consensus estimate of $0.39 by ($0.02). Coterra Energy had a net margin of 23.18% and a return on equity of 10.48%. The firm had revenue of $1.27 billion during the quarter, compared to analysts’ expectations of $1.32 billion. During the same quarter last year, the business earned $0.38 EPS. The business’s revenue was up 7.3% compared to the same quarter last year. On average, sell-side analysts predict that Coterra Energy Inc. will post 1.74 EPS for the current fiscal year.

Coterra Energy Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 29th. Stockholders of record on Thursday, August 15th were issued a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 3.54%. The ex-dividend date of this dividend was Thursday, August 15th. Coterra Energy’s payout ratio is 48.55%.

Analyst Upgrades and Downgrades

CTRA has been the subject of a number of recent research reports. Roth Capital upgraded Coterra Energy from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, August 27th. Bank of America reiterated a “buy” rating and set a $34.00 price target on shares of Coterra Energy in a research report on Friday, June 14th. JPMorgan Chase & Co. lowered 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. Morgan Stanley cut their target price on shares of Coterra Energy from $29.00 to $27.00 and set an “equal weight” rating for the company in a report on Monday, September 16th. Finally, Wolfe Research started coverage on shares of Coterra Energy in a research note on Thursday, July 18th. They issued an “outperform” rating and a $35.00 target price for the company. Two investment analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Coterra Energy presently has a consensus rating of “Moderate Buy” and an average 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.