M&G PLC Sells 12,728 Shares of Coterra Energy Inc. $CTRA

M&G PLC reduced its stake in Coterra Energy Inc. (NYSE:CTRA) by 33.8% during the second quarter, according to its most recent filing with the SEC. The fund owned 24,894 shares of the company’s stock after selling 12,728 shares during the quarter. M&G PLC’s holdings in Coterra Energy were worth $622,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its stake in Coterra Energy by 4.3% in the first quarter. Vanguard Group Inc. now owns 92,337,673 shares of the company’s stock valued at $2,668,559,000 after acquiring an additional 3,818,700 shares during the last quarter. Wellington Management Group LLP increased its stake 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 worth $2,416,939,000 after purchasing an additional 11,102,350 shares during the last quarter. Charles Schwab Investment Management Inc. increased its stake in shares of Coterra Energy by 7.8% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 25,304,940 shares of the company’s stock worth $731,313,000 after purchasing an additional 1,837,614 shares during the last quarter. Invesco Ltd. raised its holdings in shares of Coterra Energy by 1.2% in the 1st quarter. Invesco Ltd. now owns 12,384,728 shares of the company’s stock worth $357,919,000 after purchasing an additional 152,244 shares during the period. Finally, Dimensional Fund Advisors LP lifted its stake in Coterra Energy by 0.9% in the first quarter. Dimensional Fund Advisors LP now owns 10,448,823 shares of the company’s stock valued at $301,940,000 after purchasing an additional 90,103 shares during the last quarter. Hedge funds and other institutional investors own 87.92% of the company’s stock.

Coterra Energy Price Performance

Shares of NYSE CTRA opened at $25.84 on Friday. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.08 and a current ratio of 1.13. Coterra Energy Inc. has a fifty-two week low of $22.33 and a fifty-two week high of $29.95. The stock has a market cap of $19.67 billion, a PE ratio of 12.36, a price-to-earnings-growth ratio of 0.36 and a beta of 0.30. The stock has a fifty day moving average of $24.07 and a 200-day moving average of $24.48.

Coterra Energy (NYSE:CTRA) last issued its earnings results on Monday, November 3rd. The company reported $0.41 EPS for the quarter, missing the consensus estimate of $0.43 by ($0.02). The company had revenue of $1.82 billion during the quarter, compared to the consensus estimate of $1.83 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 33.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.32 EPS. Equities research analysts anticipate that Coterra Energy Inc. will post 1.54 earnings per share for the current year.

Coterra Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 26th. Investors of record on Thursday, November 13th will be paid a dividend of $0.22 per share. The ex-dividend date of this dividend is Thursday, November 13th. This represents a $0.88 annualized dividend and a yield of 3.4%. Coterra Energy’s payout ratio is currently 40.55%.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on CTRA. Scotiabank reduced their price objective on Coterra Energy from $35.00 to $32.00 and set a “sector outperform” rating for the company in a report on Thursday, October 9th. Morgan Stanley dropped their price target on Coterra Energy from $29.00 to $28.00 and set an “equal weight” rating on the stock in a research report on Tuesday, October 14th. Weiss Ratings reiterated a “hold (c)” rating on shares of Coterra Energy in a research note on Wednesday, October 8th. Susquehanna decreased their price objective on Coterra Energy from $32.00 to $31.00 and set a “positive” rating for the company in a report on Monday, October 20th. Finally, Barclays lowered their price objective on Coterra Energy from $37.00 to $35.00 and set an “overweight” rating on the stock in a research note on Tuesday, October 7th. Seventeen equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, Coterra Energy presently has a consensus rating of “Moderate Buy” and an average price target of $32.43.

About Coterra Energy

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.