Thrivent Financial for Lutherans Grows Stake in Coterra Energy Inc. (NYSE:CTRA)

Thrivent Financial for Lutherans boosted its stake in shares of Coterra Energy Inc. (NYSE:CTRA) by 0.8% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 471,256 shares of the company’s stock after acquiring an additional 3,920 shares during the quarter. Thrivent Financial for Lutherans owned about 0.06% of Coterra Energy worth $11,287,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Fifth Third Bancorp grew its holdings in Coterra Energy by 0.6% during the 2nd quarter. Fifth Third Bancorp now owns 71,138 shares of the company’s stock valued at $1,897,000 after purchasing an additional 399 shares during the last quarter. TCW Group Inc. grew its stake in shares of Coterra Energy by 4.0% during the second quarter. TCW Group Inc. now owns 10,447 shares of the company’s stock valued at $279,000 after buying an additional 404 shares during the last quarter. Cornercap Investment Counsel Inc. raised its holdings in shares of Coterra Energy by 0.7% in the second quarter. Cornercap Investment Counsel Inc. now owns 66,280 shares of the company’s stock worth $1,768,000 after buying an additional 436 shares during the period. Bruce G. Allen Investments LLC lifted its stake in shares of Coterra Energy by 17.4% during the 3rd quarter. Bruce G. Allen Investments LLC now owns 3,033 shares of the company’s stock worth $73,000 after acquiring an additional 450 shares during the last quarter. Finally, Venturi Wealth Management LLC boosted its holdings in Coterra Energy by 1.4% during the 3rd quarter. Venturi Wealth Management LLC now owns 33,559 shares of the company’s stock valued at $804,000 after acquiring an additional 474 shares during the period. 87.92% of the stock is currently owned by hedge funds and other institutional investors.

Coterra Energy Stock Performance

Shares of Coterra Energy stock opened at $27.45 on Friday. Coterra Energy Inc. has a one year low of $22.30 and a one year high of $28.90. The company has a market capitalization of $20.22 billion, a PE ratio of 16.54, a P/E/G ratio of 1.71 and a beta of 0.22. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.56 and a current ratio of 1.61. The company has a 50-day simple moving average of $24.17 and a two-hundred day simple moving average of $25.44.

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

Coterra Energy Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 27th. Investors of record on Thursday, November 14th will be paid a dividend of $0.21 per share. The ex-dividend date is Thursday, November 14th. This represents a $0.84 annualized dividend and a yield of 3.06%. Coterra Energy’s dividend payout ratio (DPR) is 50.60%.

Analyst Ratings Changes

A number of analysts have weighed in on CTRA shares. Barclays increased their target price on Coterra Energy from $31.00 to $33.00 and gave the stock an “overweight” rating in a research note on Thursday, November 14th. JPMorgan Chase & Co. reduced their price target on shares of Coterra Energy from $31.00 to $26.00 and set an “overweight” rating on the stock in a research note on Thursday, September 12th. Scotiabank lowered their price objective on shares of 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. Morgan Stanley raised their target price on shares of Coterra Energy from $27.00 to $29.00 and gave the stock an “equal weight” rating in a research report on Thursday, November 14th. Finally, Piper Sandler boosted their price target on Coterra Energy from $32.00 to $35.00 and gave the company an “overweight” rating in a report on Thursday, November 14th. Two analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Coterra Energy currently has an average rating of “Moderate Buy” and a consensus price target of $32.41.

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.