State of Alaska Department of Revenue boosted its stake in shares of Coterra Energy Inc. (NYSE:CTRA – Get Rating) by 11.5% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 127,554 shares of the company’s stock after buying an additional 13,140 shares during the period. State of Alaska Department of Revenue’s holdings in Coterra Energy were worth $3,289,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds also recently added to or reduced their stakes in CTRA. Northwestern Mutual Investment Management Company LLC purchased a new stake in Coterra Energy in the first quarter valued at $873,000. Scotia Capital Inc. purchased a new stake in Coterra Energy in the first quarter valued at $1,199,000. ProShare Advisors LLC purchased a new stake in Coterra Energy in the first quarter valued at $7,203,000. Brookstone Capital Management purchased a new stake in Coterra Energy in the first quarter valued at $716,000. Finally, Kentucky Retirement Systems Insurance Trust Fund purchased a new stake in Coterra Energy in the first quarter valued at $648,000. Institutional investors and hedge funds own 93.39% of the company’s stock.
Analysts Set New Price Targets
A number of equities research analysts have commented on the company. Credit Suisse Group lifted their target price on Coterra Energy from $30.00 to $35.00 and gave the company a “neutral” rating in a research report on Monday, June 13th. Barclays boosted their price objective on Coterra Energy from $37.00 to $43.00 and gave the company an “equal weight” rating in a report on Wednesday, August 31st. Citigroup boosted their price objective on Coterra Energy from $27.00 to $30.00 and gave the company a “neutral” rating in a report on Wednesday. Piper Sandler cut their price objective on Coterra Energy from $34.00 to $33.00 and set a “neutral” rating on the stock in a report on Friday, July 22nd. Finally, Wells Fargo & Company boosted their price objective on Coterra Energy from $42.00 to $46.00 and gave the company an “overweight” rating in a report on Monday, July 11th. One research analyst has rated the stock with a sell rating, eleven have given a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $33.87.
Coterra Energy Trading Down 2.2 %
Coterra Energy (NYSE:CTRA – Get Rating) last released its quarterly earnings data on Tuesday, August 2nd. The company reported $1.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.18 by $0.14. The business had revenue of $2.57 billion during the quarter, compared to analysts’ expectations of $2.25 billion. Coterra Energy had a return on equity of 28.44% and a net margin of 41.04%. During the same period in the prior year, the firm posted $0.25 EPS. As a group, analysts anticipate that Coterra Energy Inc. will post 4.97 earnings per share for the current fiscal year.
Coterra Energy Dividend Announcement
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 25th. Stockholders of record on Monday, August 15th were given a dividend of $0.15 per share. The ex-dividend date was Friday, August 12th. This represents a $0.60 annualized dividend and a dividend yield of 2.14%. Coterra Energy’s dividend payout ratio is currently 16.67%.
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. It primarily focuses on the Marcellus Shale with approximately 177,000 net acres in the dry gas window of the play located in Susquehanna County, Pennsylvania.
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