Coterra Energy Inc. $CTRA Shares Bought by KLP Kapitalforvaltning AS

KLP Kapitalforvaltning AS grew its stake in Coterra Energy Inc. (NYSE:CTRA) by 0.8% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 605,600 shares of the company’s stock after purchasing an additional 4,900 shares during the period. KLP Kapitalforvaltning AS owned approximately 0.08% of Coterra Energy worth $15,370,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Cornerstone Planning Group LLC increased its holdings in shares of Coterra Energy by 175.6% in the first quarter. Cornerstone Planning Group LLC now owns 871 shares of the company’s stock valued at $25,000 after purchasing an additional 555 shares during the period. Raleigh Capital Management Inc. increased its holdings in shares of Coterra Energy by 463.5% in the first quarter. Raleigh Capital Management Inc. now owns 896 shares of the company’s stock valued at $26,000 after purchasing an additional 737 shares during the period. Banque Cantonale Vaudoise acquired a new position in shares of Coterra Energy in the first quarter valued at approximately $29,000. Wayfinding Financial LLC acquired a new position in shares of Coterra Energy in the first quarter valued at approximately $34,000. Finally, Catalyst Capital Advisors LLC acquired a new position in shares of Coterra Energy in the first quarter valued at approximately $46,000. Institutional investors and hedge funds own 87.92% of the company’s stock.

Coterra Energy Stock Down 1.2%

CTRA opened at $24.24 on Thursday. The business’s fifty day moving average is $23.94 and its two-hundred day moving average is $24.89. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.08 and a current ratio of 1.13. The company has a market cap of $18.50 billion, a price-to-earnings ratio of 11.60, a PEG ratio of 0.35 and a beta of 0.29. Coterra Energy Inc. has a one year low of $22.46 and a one year high of $29.95.

Coterra Energy (NYSE:CTRA) last posted its earnings results on Monday, August 4th. The company reported $0.48 EPS for the quarter, missing analysts’ consensus estimates of $0.50 by ($0.02). The firm had revenue of $1.97 billion for the quarter, compared to analysts’ expectations of $1.78 billion. Coterra Energy had a return on equity of 10.99% and a net margin of 23.80%.The firm’s revenue for the quarter was up 54.6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.37 earnings per share. Analysts anticipate that Coterra Energy Inc. will post 1.54 EPS for the current fiscal year.

Coterra Energy Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, August 28th. Shareholders of record on Thursday, August 14th were given a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a yield of 3.6%. The ex-dividend date was Thursday, August 14th. Coterra Energy’s payout ratio is presently 42.11%.

Analyst Ratings Changes

A number of research firms have recently issued reports on CTRA. Scotiabank reissued an “outperform” rating on shares of Coterra Energy in a report on Friday, July 11th. Barclays dropped their price objective on Coterra Energy from $37.00 to $35.00 and set an “overweight” rating on the stock in a report on Tuesday. Wells Fargo & Company upped their price objective on Coterra Energy from $32.00 to $33.00 and gave the stock an “overweight” rating in a report on Thursday, August 14th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Coterra Energy in a report on Wednesday. Finally, The Goldman Sachs Group reaffirmed a “neutral” rating and set a $31.00 price objective on shares of Coterra Energy in a report on Tuesday, July 1st. Fourteen research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $33.22.

Coterra Energy Company 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.