Coterra Energy Inc. (NYSE:CTRA) Shares Acquired by Mirae Asset Global Investments Co. Ltd.

Mirae Asset Global Investments Co. Ltd. boosted its position in Coterra Energy Inc. (NYSE:CTRA) by 12.4% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 504,280 shares of the company’s stock after purchasing an additional 55,486 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in Coterra Energy were worth $11,972,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Bank of Montreal Can boosted its position in Coterra Energy by 160.1% during 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 during the period. SG Americas Securities LLC lifted its holdings in Coterra Energy by 2,609.6% in the first quarter. SG Americas Securities LLC now owns 1,541,342 shares of the company’s stock worth $42,973,000 after purchasing an additional 1,484,458 shares during the period. Marshall Wace LLP lifted its holdings in 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 bought a new position in Coterra Energy in the 1st quarter valued at about $28,967,000. Finally, American Century Companies Inc. increased its stake in 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 buying an additional 1,013,107 shares during the period. 87.92% of the stock is owned by institutional investors and hedge funds.

Coterra Energy Stock Down 0.6 %

Shares of NYSE:CTRA opened at $23.85 on Monday. The firm has a 50 day simple moving average of $23.84 and a 200 day simple moving average of $25.81. Coterra Energy Inc. has a 52 week low of $22.30 and a 52 week high of $28.90. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.38 and a current ratio of 1.40. The company has a market cap of $17.75 billion, a PE ratio of 13.79, a price-to-earnings-growth ratio of 1.41 and a beta of 0.22.

Coterra Energy (NYSE:CTRA) last released its earnings results 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 net margin of 23.18% and a return on equity of 10.48%. The business had revenue of $1.27 billion during the quarter, compared to analysts’ expectations of $1.32 billion. During the same quarter in the previous year, the company earned $0.38 EPS. Coterra Energy’s revenue for the quarter was up 7.3% on a year-over-year basis. As a group, research analysts expect that Coterra Energy Inc. will post 1.72 earnings per share for the current year.

Coterra Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 29th. Shareholders of record on Thursday, August 15th were paid a dividend of $0.21 per share. The ex-dividend date of this dividend was Thursday, August 15th. This represents a $0.84 annualized dividend and a yield of 3.52%. Coterra Energy’s dividend payout ratio (DPR) is presently 48.55%.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on CTRA shares. Roth Mkm raised shares of 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. 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. JPMorgan Chase & Co. lowered their price target 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. Truist Financial cut their price objective on Coterra Energy from $34.00 to $31.00 and set a “buy” rating for the company in a report on Monday, September 30th. Finally, Barclays lowered their target price on Coterra Energy from $33.00 to $31.00 and set an “overweight” rating on the stock in a report on Thursday, October 3rd. Two research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Coterra Energy currently has a consensus rating of “Moderate Buy” and a consensus target price of $32.06.

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.