Equity Investment Corp Has $81.28 Million Position in Coterra Energy Inc. (NYSE:CTRA)

Equity Investment Corp raised its position in Coterra Energy Inc. (NYSE:CTRA) by 5.1% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 3,393,798 shares of the company’s stock after acquiring an additional 166,120 shares during the quarter. Coterra Energy makes up about 1.9% of Equity Investment Corp’s investment portfolio, making the stock its 27th largest holding. Equity Investment Corp’s holdings in Coterra Energy were worth $81,281,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. BNP PARIBAS ASSET MANAGEMENT Holding S.A. bought a new stake in shares of Coterra Energy during the 1st quarter worth about $656,000. Quadrature Capital Ltd boosted its holdings in shares of Coterra Energy by 112.2% during the 1st quarter. Quadrature Capital Ltd now owns 72,395 shares of the company’s stock worth $2,018,000 after buying an additional 38,278 shares during the period. CreativeOne Wealth LLC boosted its holdings in shares of Coterra Energy by 130.3% during the 1st quarter. CreativeOne Wealth LLC now owns 56,860 shares of the company’s stock worth $1,586,000 after buying an additional 32,173 shares during the period. Raymond James & Associates boosted its holdings in shares of Coterra Energy by 5.0% during the 2nd quarter. Raymond James & Associates now owns 1,187,663 shares of the company’s stock worth $31,675,000 after buying an additional 56,748 shares during the period. Finally, Disciplined Growth Investors Inc. MN boosted its holdings in Coterra Energy by 1.0% in the 2nd quarter. Disciplined Growth Investors Inc. MN now owns 5,063,920 shares of the company’s stock valued at $135,055,000 after purchasing an additional 51,249 shares during the period. Institutional investors and hedge funds own 87.92% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have issued reports on CTRA shares. Roth Capital raised shares of Coterra Energy from a “hold” rating to a “strong-buy” rating in a report on Tuesday, August 27th. JPMorgan Chase & Co. cut their price objective on shares of Coterra Energy from $31.00 to $26.00 and set an “overweight” rating for the company in a report on Thursday, September 12th. Susquehanna boosted their price objective on shares of Coterra Energy from $30.00 to $33.00 and gave the company a “positive” rating in a report on Thursday. Morgan Stanley boosted their price objective on shares of Coterra Energy from $27.00 to $29.00 and gave the company an “equal weight” rating in a report on Thursday. Finally, Roth Mkm raised shares of Coterra Energy from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $25.00 to $29.00 in a report on Tuesday, August 27th. 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 stock. According to data from MarketBeat, Coterra Energy currently has a consensus rating of “Moderate Buy” and an average price target of $32.41.

Coterra Energy Trading Up 0.6 %

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

Coterra Energy (NYSE:CTRA) last issued 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). 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 during the quarter, compared to analysts’ expectations of $1.28 billion. During the same period in the previous year, the firm earned $0.47 earnings per share. The firm’s quarterly revenue was up .2% compared to the same quarter last year. As a group, analysts predict that Coterra Energy Inc. will post 1.53 earnings per share for the current fiscal year.

Coterra Energy Dividend Announcement

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

Coterra Energy 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.