QRG Capital Management Inc. Has $1.48 Million Stake in Coterra Energy Inc. (NYSE:CTRA)

QRG Capital Management Inc. raised its stake in shares of Coterra Energy Inc. (NYSE:CTRA) by 5.9% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 61,649 shares of the company’s stock after acquiring an additional 3,410 shares during the quarter. QRG Capital Management Inc.’s holdings in Coterra Energy were worth $1,476,000 as of its most recent filing with the SEC.

Other large investors have also made changes to their positions in the company. Fortitude Family Office LLC increased its stake in Coterra Energy by 154.9% during the second quarter. Fortitude Family Office LLC now owns 933 shares of the company’s stock valued at $25,000 after acquiring an additional 567 shares during the period. Larson Financial Group LLC grew its holdings in shares of Coterra Energy by 98.0% during the 2nd quarter. Larson Financial Group LLC now owns 1,081 shares of the company’s stock worth $29,000 after purchasing an additional 535 shares in the last quarter. Central Pacific Bank Trust Division bought a new stake in shares of Coterra Energy during the first quarter valued at approximately $44,000. EverSource Wealth Advisors LLC raised its stake in shares of Coterra Energy by 31.0% in the first quarter. EverSource Wealth Advisors LLC now owns 2,351 shares of the company’s stock valued at $64,000 after purchasing an additional 557 shares in the last quarter. Finally, Values First Advisors Inc. bought a new position in Coterra Energy in the third quarter worth $57,000. Institutional investors and hedge funds own 87.92% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have issued reports on CTRA shares. Stephens boosted their price target on shares of Coterra Energy from $28.00 to $29.00 and gave the company an “overweight” rating in a report on Friday, November 1st. JPMorgan Chase & Co. dropped their price target on shares of Coterra Energy from $31.00 to $26.00 and set an “overweight” rating for the company in a research report on Thursday, September 12th. Roth Capital raised Coterra Energy from a “hold” rating to a “strong-buy” rating in a report on Tuesday, August 27th. Roth Mkm raised Coterra Energy from a “neutral” rating to a “buy” rating and increased their target price for the stock from $25.00 to $29.00 in a report on Tuesday, August 27th. Finally, UBS Group decreased their price target on Coterra Energy from $34.00 to $31.00 and set a “buy” rating on the stock in a research note on Wednesday, September 18th. Two equities research 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 company. According to MarketBeat, Coterra Energy presently has an average rating of “Moderate Buy” and an average price target of $31.29.

Coterra Energy Stock Performance

Shares of NYSE:CTRA opened at $24.41 on Friday. The company has a market capitalization of $17.98 billion, a price-to-earnings ratio of 14.70, a P/E/G ratio of 1.42 and a beta of 0.22. The firm’s 50 day simple moving average is $23.76 and its 200 day simple moving average is $25.60. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.61 and a quick ratio of 1.38. Coterra Energy Inc. has a fifty-two week low of $22.30 and a fifty-two week high of $28.90.

Coterra Energy (NYSE:CTRA) last announced its quarterly earnings results on Thursday, October 31st. The company reported $0.32 earnings per share for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.03). Coterra Energy had a return on equity of 9.38% and a net margin of 21.91%. The firm had revenue of $1.36 billion for the quarter, compared to the consensus estimate of $1.28 billion. During the same period in the prior year, the business earned $0.47 earnings per share. The company’s revenue for the quarter was up .2% compared to the same quarter last year. As a group, sell-side analysts forecast that Coterra Energy Inc. will post 1.62 earnings per share for the current year.

Coterra Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 27th. Shareholders of record on Thursday, November 14th will be paid a $0.21 dividend. The ex-dividend date of this dividend is Thursday, November 14th. This represents a $0.84 dividend on an annualized basis and a yield of 3.44%. Coterra Energy’s payout ratio is 50.60%.

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.