Metis Global Partners LLC Grows Stock Position in Coterra Energy Inc. (NYSE:CTRA)

Metis Global Partners LLC grew its position in shares of Coterra Energy Inc. (NYSE:CTRA) by 9.7% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 32,074 shares of the company’s stock after buying an additional 2,844 shares during the period. Metis Global Partners LLC’s holdings in Coterra Energy were worth $768,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in CTRA. BNP PARIBAS ASSET MANAGEMENT Holding S.A. bought a new position in Coterra Energy in the 1st quarter worth approximately $656,000. Blair William & Co. IL grew its position in shares of Coterra Energy by 9.0% in the first quarter. Blair William & Co. IL now owns 25,606 shares of the company’s stock valued at $714,000 after purchasing an additional 2,112 shares in the last quarter. Intech Investment Management LLC grew its position in shares of Coterra Energy by 511.8% in the first quarter. Intech Investment Management LLC now owns 55,402 shares of the company’s stock valued at $1,545,000 after purchasing an additional 46,346 shares in the last quarter. Clearbridge Investments LLC bought a new stake in shares of Coterra Energy during the 1st quarter valued at $28,967,000. Finally, UniSuper Management Pty Ltd lifted its holdings in Coterra Energy by 425.1% during the 1st quarter. UniSuper Management Pty Ltd now owns 44,050 shares of the company’s stock worth $1,228,000 after purchasing an additional 35,661 shares in the last quarter. Institutional investors own 87.92% of the company’s stock.

Coterra Energy Stock Up 0.6 %

Shares of NYSE CTRA opened at $25.58 on Monday. The stock has a market capitalization of $18.84 billion, a P/E ratio of 15.41, a PEG ratio of 1.67 and a beta of 0.22. Coterra Energy Inc. has a one year low of $22.30 and a one year high of $28.90. The firm’s 50 day simple moving average is $23.95 and its two-hundred day simple moving average is $25.46. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.61 and a quick ratio of 1.56.

Coterra Energy (NYSE:CTRA) last released its earnings results on Thursday, October 31st. The company reported $0.32 EPS for the quarter, missing the consensus estimate of $0.35 by ($0.03). The business had revenue of $1.36 billion for the quarter, compared to the consensus estimate of $1.28 billion. Coterra Energy had a net margin of 21.91% and a return on equity of 9.38%. Coterra Energy’s revenue for the quarter was up .2% on a year-over-year basis. During the same period in the prior year, the business posted $0.47 EPS. As a group, analysts expect that Coterra Energy Inc. will post 1.53 EPS for the current fiscal year.

Coterra Energy Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 27th. Investors of record on Thursday, November 14th will be issued a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a yield of 3.28%. The ex-dividend date of this dividend is Thursday, November 14th. Coterra Energy’s dividend payout ratio is presently 50.60%.

Wall Street Analysts Forecast Growth

CTRA has been the topic of several analyst reports. Scotiabank decreased their price target on Coterra Energy from $35.00 to $32.00 and set a “sector outperform” rating on the stock in a research report on Thursday, October 10th. Wells Fargo & Company upped their target price on shares of Coterra Energy from $32.00 to $35.00 and gave the stock an “overweight” rating in a report on Friday. Mizuho raised their price target on shares of Coterra Energy from $36.00 to $37.00 and gave the company an “outperform” rating in a report on Friday, November 1st. Truist Financial boosted their price target on shares of Coterra Energy from $31.00 to $33.00 and gave the company a “buy” rating in a research report on Thursday. Finally, Stephens increased their price objective on Coterra Energy from $28.00 to $29.00 and gave the stock an “overweight” rating in a research report on Friday, November 1st. 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, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $32.41.

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.