FCG Investment Co Boosts Stake in Coterra Energy Inc. (NYSE:CTRA)

FCG Investment Co raised its position in Coterra Energy Inc. (NYSE:CTRA) by 2.7% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 23,601 shares of the company’s stock after purchasing an additional 624 shares during the quarter. FCG Investment Co’s holdings in Coterra Energy were worth $565,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in CTRA. Bank of Montreal Can raised its position in Coterra Energy by 160.1% in the 2nd quarter. Bank of Montreal Can now owns 2,898,876 shares of the company’s stock worth $80,154,000 after purchasing an additional 1,784,192 shares during the period. SG Americas Securities LLC increased its position in shares of Coterra Energy by 2,609.6% during the first quarter. SG Americas Securities LLC now owns 1,541,342 shares of the company’s stock worth $42,973,000 after acquiring an additional 1,484,458 shares during the period. Marshall Wace LLP increased its position in shares of Coterra Energy by 5,325.5% during the second quarter. Marshall Wace LLP now owns 1,148,569 shares of the company’s stock worth $30,632,000 after acquiring an additional 1,127,399 shares during the period. Clearbridge Investments LLC purchased a new position in shares of Coterra Energy during the first quarter worth approximately $28,967,000. Finally, American Century Companies Inc. increased its position in shares of Coterra Energy by 29.1% during the second quarter. American Century Companies Inc. now owns 4,498,227 shares of the company’s stock worth $119,968,000 after acquiring an additional 1,013,107 shares during the period. 87.92% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on CTRA shares. Roth Mkm raised shares of Coterra Energy from a “neutral” rating to a “buy” rating and raised their target price for the stock from $25.00 to $29.00 in a research report on Tuesday, August 27th. Barclays reduced their target price on shares of Coterra Energy from $33.00 to $31.00 and set an “overweight” rating on the stock in a research report on Thursday, October 3rd. BMO Capital Markets raised shares of Coterra Energy to a “hold” rating in a research report on Wednesday, July 3rd. Wolfe Research began coverage on shares of Coterra Energy in a research report on Thursday, July 18th. They set an “outperform” rating and a $35.00 target price on the stock. Finally, UBS Group dropped their price objective on shares of 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 research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $32.06.

Coterra Energy Stock Down 1.9 %

Coterra Energy stock opened at $23.40 on Monday. The firm has a market cap of $17.42 billion, a price-to-earnings ratio of 13.79, a price-to-earnings-growth ratio of 1.41 and a beta of 0.22. Coterra Energy Inc. has a 52 week low of $22.30 and a 52 week high of $28.90. The business’s 50-day moving average price is $23.84 and its 200 day moving average price is $25.81. The company has a quick ratio of 1.38, a current ratio of 1.40 and a debt-to-equity ratio of 0.16.

Coterra Energy (NYSE:CTRA) last posted its earnings results on Thursday, August 1st. The company reported $0.37 EPS for the quarter, missing the consensus estimate of $0.39 by ($0.02). The company had revenue of $1.27 billion for the quarter, compared to analyst estimates of $1.32 billion. Coterra Energy had a return on equity of 10.48% and a net margin of 23.18%. The firm’s revenue was up 7.3% on a year-over-year basis. During the same period last year, the business earned $0.38 earnings per share. As a group, sell-side analysts anticipate that Coterra Energy Inc. will post 1.72 earnings per share for the current year.

Coterra Energy Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 29th. Shareholders of record on Thursday, August 15th were given a dividend of $0.21 per share. The ex-dividend date of this dividend was Thursday, August 15th. This represents a $0.84 dividend on an annualized basis and a yield of 3.59%. Coterra Energy’s dividend payout ratio is currently 48.55%.

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.