QRG Capital Management Inc. Buys 57,461 Shares of Coterra Energy Inc. $CTRA

QRG Capital Management Inc. grew its stake in Coterra Energy Inc. (NYSE:CTRA) by 67.0% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 143,188 shares of the company’s stock after buying an additional 57,461 shares during the period. QRG Capital Management Inc.’s holdings in Coterra Energy were worth $3,386,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in CTRA. State of Michigan Retirement System boosted its position in Coterra Energy by 5.8% during the second quarter. State of Michigan Retirement System now owns 244,459 shares of the company’s stock worth $6,204,000 after purchasing an additional 13,500 shares during the period. Truist Financial Corp lifted its stake in shares of Coterra Energy by 165.3% in the second quarter. Truist Financial Corp now owns 4,213,315 shares of the company’s stock worth $106,934,000 after buying an additional 2,625,126 shares during the last quarter. Resona Asset Management Co. Ltd. boosted its holdings in shares of Coterra Energy by 30.1% during the 2nd quarter. Resona Asset Management Co. Ltd. now owns 294,598 shares of the company’s stock worth $7,486,000 after buying an additional 68,100 shares during the period. Strs Ohio boosted its holdings in shares of Coterra Energy by 58.5% during the 2nd quarter. Strs Ohio now owns 87,745 shares of the company’s stock worth $2,227,000 after buying an additional 32,376 shares during the period. Finally, Nordea Investment Management AB raised its holdings in Coterra Energy by 43.2% in the 2nd quarter. Nordea Investment Management AB now owns 57,542 shares of the company’s stock worth $1,468,000 after acquiring an additional 17,373 shares during the period. Institutional investors and hedge funds own 87.92% of the company’s stock.

Coterra Energy Price Performance

Shares of CTRA stock opened at $25.73 on Monday. Coterra Energy Inc. has a 12 month low of $22.33 and a 12 month high of $29.95. The company has a market capitalization of $19.59 billion, a P/E ratio of 11.86, a P/E/G ratio of 0.45 and a beta of 0.36. The stock has a 50 day moving average of $26.06 and a two-hundred day moving average of $24.75. The company has a current ratio of 1.02, a quick ratio of 0.98 and a debt-to-equity ratio of 0.25.

Coterra Energy (NYSE:CTRA) last released its quarterly earnings data on Monday, November 3rd. The company reported $0.41 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.02). The firm had revenue of $1.82 billion for the quarter, compared to the consensus estimate of $1.83 billion. Coterra Energy had a net margin of 23.25% and a return on equity of 11.23%. The business’s revenue for the quarter was up 33.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.32 earnings per share. As a group, equities analysts expect that Coterra Energy Inc. will post 1.54 EPS for the current year.

Coterra Energy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, November 26th. Stockholders of record on Thursday, November 13th were issued a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a dividend yield of 3.4%. The ex-dividend date of this dividend was Thursday, November 13th. Coterra Energy’s dividend payout ratio (DPR) is presently 40.55%.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on CTRA. Stephens decreased their price target on shares of Coterra Energy from $34.00 to $33.00 and set an “overweight” rating for the company in a report on Tuesday, October 21st. Johnson Rice cut their price objective on Coterra Energy from $38.00 to $37.00 in a research report on Friday, December 5th. Zacks Research raised Coterra Energy from a “strong sell” rating to a “hold” rating in a report on Monday, December 1st. Barclays cut their price target on Coterra Energy from $37.00 to $35.00 and set an “overweight” rating for the company in a report on Tuesday, October 7th. Finally, Morgan Stanley lowered their price objective on shares of Coterra Energy from $29.00 to $28.00 and set an “equal weight” rating on the stock in a research note on Tuesday, October 14th. Sixteen equities research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $32.62.

Coterra Energy Company Profile

Coterra Energy (NYSE: CTRA) is an independent oil and natural gas exploration and production company focused on the development, production and optimization of onshore hydrocarbon resources in the United States. The company’s operations center on the exploration, drilling, completion and production of crude oil, natural gas and natural gas liquids (NGLs), with an emphasis on maximizing operational efficiency and capital discipline across its asset base.

Its business activities include identifying and developing resource-rich acreage, operating producing wells, managing reservoir performance and marketing produced hydrocarbons to a range of midstream and energy customers.