93,285 Shares in Coterra Energy Inc. $CTRA Bought by Rakuten Investment Management Inc.

Rakuten Investment Management Inc. acquired a new stake in shares of Coterra Energy Inc. (NYSE:CTRA) during the third quarter, Holdings Channel.com reports. The firm acquired 93,285 shares of the company’s stock, valued at approximately $2,206,000.

Several other hedge funds and other institutional investors have also made changes to their positions in CTRA. Bogart Wealth LLC purchased a new position in shares of Coterra Energy during the 2nd quarter worth about $26,000. REAP Financial Group LLC lifted its stake in Coterra Energy by 190.1% in the second quarter. REAP Financial Group LLC now owns 1,108 shares of the company’s stock worth $28,000 after purchasing an additional 726 shares during the last quarter. Tobam lifted its stake in Coterra Energy by 50.9% in the second quarter. Tobam now owns 1,823 shares of the company’s stock worth $46,000 after purchasing an additional 615 shares during the last quarter. CYBER HORNET ETFs LLC purchased a new position in shares of Coterra Energy during the second quarter valued at approximately $50,000. Finally, Steigerwald Gordon & Koch Inc. bought a new position in shares of Coterra Energy during the third quarter valued at approximately $50,000. Hedge funds and other institutional investors own 87.92% of the company’s stock.

Coterra Energy Stock Up 0.6%

Coterra Energy stock opened at $27.44 on Friday. The company has a quick ratio of 0.98, a current ratio of 1.02 and a debt-to-equity ratio of 0.25. The firm has a market cap of $20.89 billion, a P/E ratio of 12.64, a P/E/G ratio of 0.60 and a beta of 0.36. The business has a fifty day moving average of $26.10 and a two-hundred day moving average of $24.81. Coterra Energy Inc. has a twelve month low of $22.33 and a twelve month high of $29.82.

Coterra Energy (NYSE:CTRA) last announced its quarterly earnings results 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 company had revenue of $1.82 billion during the quarter, compared to analysts’ expectations of $1.83 billion. Coterra Energy had a net margin of 23.25% and a return on equity of 11.23%. The company’s revenue was up 33.7% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.32 earnings per share. On average, analysts forecast that Coterra Energy Inc. will post 1.54 earnings per share for the current fiscal year.

Coterra Energy Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, November 26th. Shareholders of record on Thursday, November 13th were issued a $0.22 dividend. The ex-dividend date was Thursday, November 13th. This represents a $0.88 dividend on an annualized basis and a yield of 3.2%. Coterra Energy’s payout ratio is currently 40.55%.

Analysts Set New Price Targets

A number of brokerages recently issued reports on CTRA. Zacks Research lowered Coterra Energy from a “hold” rating to a “strong sell” rating in a research note on Monday, January 19th. BMO Capital Markets decreased their target price on Coterra Energy from $33.00 to $32.00 and set a “market perform” rating for the company in a research report on Monday, December 15th. Siebert Williams Shank cut their price target on shares of Coterra Energy from $35.00 to $32.00 and set a “buy” rating on the stock in a report on Monday, October 13th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Coterra Energy in a research note on Monday, December 29th. Finally, UBS Group upped their target price on shares of Coterra Energy from $32.00 to $33.00 and gave the stock a “buy” rating in a research note on Friday, December 12th. Sixteen analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Coterra Energy has a consensus rating of “Moderate Buy” and a consensus price target of $32.57.

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.