Principal Financial Group Inc. Buys 954 Shares of Coterra Energy Inc. (NYSE:CTRA)

Principal Financial Group Inc. grew its stake in shares of Coterra Energy Inc. (NYSE:CTRA) by 0.1% during the third quarter, according to the company in its most recent disclosure with the SEC. The fund owned 1,175,263 shares of the company’s stock after buying an additional 954 shares during the quarter. Principal Financial Group Inc. owned approximately 0.16% of Coterra Energy worth $28,148,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the stock. Fortitude Family Office LLC increased its holdings in Coterra Energy by 154.9% in the 2nd quarter. Fortitude Family Office LLC now owns 933 shares of the company’s stock worth $25,000 after purchasing an additional 567 shares in the last quarter. Larson Financial Group LLC increased its stake in shares of Coterra Energy by 98.0% in the second quarter. Larson Financial Group LLC now owns 1,081 shares of the company’s stock valued at $29,000 after buying an additional 535 shares during the period. Values First Advisors Inc. bought a new position in Coterra Energy in the 3rd quarter valued at approximately $57,000. Tobam acquired a new stake in Coterra Energy during the 3rd quarter worth approximately $63,000. Finally, EverSource Wealth Advisors LLC grew its holdings in Coterra Energy by 31.0% during the 1st quarter. EverSource Wealth Advisors LLC now owns 2,351 shares of the company’s stock worth $64,000 after acquiring an additional 557 shares during the last quarter. 87.92% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on CTRA shares. Truist Financial dropped their price target on shares of Coterra Energy from $34.00 to $31.00 and set a “buy” rating for the company in a research note on Monday, September 30th. Barclays reduced their price target on Coterra Energy from $33.00 to $31.00 and set an “overweight” rating on the stock in a research report on Thursday, October 3rd. Piper Sandler restated an “overweight” rating and set a $32.00 price objective (up from $31.00) on shares of Coterra Energy in a research report on Monday, November 4th. Wells Fargo & Company dropped their price target on shares of Coterra Energy from $34.00 to $32.00 and set an “overweight” rating on the stock in a research report on Tuesday, October 1st. Finally, Scotiabank cut their target price on Coterra Energy from $35.00 to $32.00 and set a “sector outperform” rating on the stock in a research report on Thursday, October 10th. Two analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $31.29.

Coterra Energy Price Performance

Coterra Energy stock opened at $25.22 on Wednesday. The business’s 50 day simple moving average is $23.82 and its 200 day simple moving average is $25.49. Coterra Energy Inc. has a 12 month low of $22.30 and a 12 month high of $28.90. The company has a market cap of $18.58 billion, a price-to-earnings ratio of 15.19, a PEG ratio of 1.59 and a beta of 0.22. The company has a current ratio of 1.61, a quick ratio of 1.38 and a debt-to-equity ratio of 0.16.

Coterra Energy (NYSE:CTRA) last posted its quarterly earnings results on Thursday, October 31st. The company reported $0.32 earnings per share for the quarter, missing the consensus estimate of $0.35 by ($0.03). Coterra Energy had a return on equity of 9.38% and a net margin of 21.91%. The firm had revenue of $1.36 billion for the quarter, compared to the consensus estimate of $1.28 billion. During the same quarter in the previous year, the company posted $0.47 EPS. The firm’s revenue was up .2% compared to the same quarter last year. Sell-side analysts forecast that Coterra Energy Inc. will post 1.54 EPS for the current year.

Coterra Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 27th. Stockholders of record on Thursday, November 14th will be paid a $0.21 dividend. The ex-dividend date is Thursday, November 14th. This represents a $0.84 annualized dividend and a dividend yield of 3.33%. Coterra Energy’s payout ratio is 50.60%.

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.