Elo Mutual Pension Insurance Co Trims Position in Coterra Energy Inc. $CTRA

Elo Mutual Pension Insurance Co decreased its position in Coterra Energy Inc. (NYSE:CTRA) by 6.9% during the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 75,560 shares of the company’s stock after selling 5,615 shares during the quarter. Elo Mutual Pension Insurance Co’s holdings in Coterra Energy were worth $1,918,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of CTRA. Wellington Management Group LLP increased its position in shares of Coterra Energy by 15.3% during the 1st quarter. Wellington Management Group LLP now owns 83,631,117 shares of the company’s stock valued at $2,416,939,000 after purchasing an additional 11,102,350 shares during the last quarter. Davis Selected Advisers purchased a new position in shares of Coterra Energy in the second quarter worth approximately $237,002,000. Vanguard Group Inc. increased its holdings in Coterra Energy by 4.3% during the first quarter. Vanguard Group Inc. now owns 92,337,673 shares of the company’s stock valued at $2,668,559,000 after buying an additional 3,818,700 shares during the last quarter. Truist Financial Corp increased its holdings in Coterra Energy by 165.3% during the second quarter. Truist Financial Corp now owns 4,213,315 shares of the company’s stock valued at $106,934,000 after buying an additional 2,625,126 shares during the last quarter. Finally, Nuveen LLC bought a new position in Coterra Energy in the first quarter worth approximately $64,173,000. 87.92% of the stock is owned by hedge funds and other institutional investors.

Coterra Energy Price Performance

NYSE:CTRA opened at $26.42 on Friday. The business’s 50-day simple moving average is $24.44 and its two-hundred day simple moving average is $24.60. Coterra Energy Inc. has a 52 week low of $22.33 and a 52 week high of $29.95. The stock has a market cap of $20.11 billion, a PE ratio of 12.64, a P/E/G ratio of 0.36 and a beta of 0.30. The company has a quick ratio of 1.08, a current ratio of 1.13 and a debt-to-equity ratio of 0.29.

Coterra Energy (NYSE:CTRA) last released its earnings results on Monday, November 3rd. The company reported $0.41 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.43 by ($0.02). The business had revenue of $1.82 billion for the quarter, compared to analysts’ expectations of $1.83 billion. Coterra Energy had a return on equity of 10.99% and a net margin of 23.80%.The business’s revenue for the quarter was up 33.7% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.32 EPS. As a group, analysts forecast that Coterra Energy Inc. will post 1.54 EPS for the current fiscal year.

Coterra Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, November 26th. Stockholders of record on Thursday, November 13th were given a dividend of $0.22 per share. The ex-dividend date was Thursday, November 13th. This represents a $0.88 annualized dividend and a dividend yield of 3.3%. Coterra Energy’s dividend payout ratio (DPR) is presently 40.55%.

Analyst Ratings Changes

A number of brokerages have recently issued reports on CTRA. Roth Capital reissued a “buy” rating and set a $27.00 price objective on shares of Coterra Energy in a research report on Tuesday, November 4th. Raymond James Financial lifted their target price on Coterra Energy from $28.00 to $31.00 and gave the company an “outperform” rating in a research report on Monday. JPMorgan Chase & Co. reduced their price target on Coterra Energy from $35.00 to $34.00 and set an “overweight” rating for the company in a research report on Wednesday, November 5th. Wolfe Research decreased their price objective on Coterra Energy from $36.00 to $35.00 and set an “outperform” rating on the stock in a research note on Tuesday, November 4th. Finally, Susquehanna cut their price objective on Coterra Energy from $32.00 to $31.00 and set a “positive” rating for the company in a research note on Monday, October 20th. Seventeen investment analysts have rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $32.86.

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.