SG Americas Securities LLC Buys 107,071 Shares of Coterra Energy Inc. $CTRA

SG Americas Securities LLC raised its stake in Coterra Energy Inc. (NYSE:CTRA) by 130.5% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 189,128 shares of the company’s stock after acquiring an additional 107,071 shares during the quarter. SG Americas Securities LLC’s holdings in Coterra Energy were worth $4,800,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently modified their holdings of CTRA. Truist Financial Corp grew its holdings in Coterra Energy by 165.3% during the second quarter. Truist Financial Corp now owns 4,213,315 shares of the company’s stock valued at $106,934,000 after purchasing an additional 2,625,126 shares during the period. State of Michigan Retirement System boosted its position in shares of Coterra Energy by 5.8% during the second quarter. State of Michigan Retirement System now owns 244,459 shares of the company’s stock worth $6,204,000 after purchasing an additional 13,500 shares in the last quarter. Nordea Investment Management AB boosted its position in shares of Coterra Energy by 43.2% during the second quarter. Nordea Investment Management AB now owns 57,542 shares of the company’s stock worth $1,468,000 after purchasing an additional 17,373 shares in the last quarter. Resona Asset Management Co. Ltd. grew its holdings in shares of Coterra Energy by 30.1% in the 2nd quarter. Resona Asset Management Co. Ltd. now owns 294,598 shares of the company’s stock valued at $7,486,000 after buying an additional 68,100 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. increased its position in shares of Coterra Energy by 15.4% in the 2nd quarter. Mirae Asset Global Investments Co. Ltd. now owns 785,835 shares of the company’s stock valued at $19,944,000 after buying an additional 104,999 shares in the last quarter. 87.92% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research firms have weighed in on CTRA. Zacks Research lowered Coterra Energy from a “hold” rating to a “strong sell” rating in a report on Monday, October 13th. Roth Capital reaffirmed a “buy” rating and set a $27.00 price target on shares of Coterra Energy in a research report on Tuesday, November 4th. UBS Group cut their price objective on Coterra Energy from $30.00 to $29.00 and set a “buy” rating on the stock in a report on Tuesday, October 14th. Piper Sandler lowered their target price on Coterra Energy from $39.00 to $38.00 and set an “overweight” rating for the company in a research note on Tuesday, October 21st. Finally, Mizuho dropped their target price on shares of Coterra Energy from $36.00 to $33.00 and set an “outperform” rating on the stock in a report on Monday, September 15th. Seventeen investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $32.43.

Coterra Energy Stock Down 1.3%

CTRA stock opened at $26.00 on Tuesday. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.13 and a quick ratio of 1.08. The stock has a market capitalization of $19.79 billion, a P/E ratio of 12.44, a P/E/G ratio of 0.36 and a beta of 0.30. Coterra Energy Inc. has a fifty-two week low of $22.33 and a fifty-two week high of $29.95. The business has a 50-day moving average of $24.17 and a 200-day moving average of $24.49.

Coterra Energy (NYSE:CTRA) last announced its 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 firm had revenue of $1.82 billion during the quarter, compared to analyst estimates of $1.83 billion. Coterra Energy had a net margin of 23.80% and a return on equity of 10.99%. The firm’s quarterly revenue was up 33.7% compared to the same quarter last year. During the same period in the prior year, the business posted $0.32 EPS. On average, sell-side analysts anticipate that Coterra Energy Inc. will post 1.54 earnings per share for the current fiscal year.

Coterra Energy Dividend Announcement

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

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.