Y Intercept Hong Kong Ltd Acquires Shares of 175,698 Coterra Energy Inc. $CTRA

Y Intercept Hong Kong Ltd acquired a new position in Coterra Energy Inc. (NYSE:CTRA) in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 175,698 shares of the company’s stock, valued at approximately $4,155,000.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Bogart Wealth LLC purchased a new position in Coterra Energy during the second quarter valued at $26,000. REAP Financial Group LLC increased its holdings in shares of Coterra Energy by 190.1% during the second quarter. REAP Financial Group LLC now owns 1,108 shares of the company’s stock valued at $28,000 after acquiring an additional 726 shares in the last quarter. Tobam raised its position in shares of Coterra Energy by 50.9% in the 2nd quarter. Tobam now owns 1,823 shares of the company’s stock worth $46,000 after purchasing an additional 615 shares during the last quarter. CYBER HORNET ETFs LLC purchased a new position in shares of Coterra Energy in the 2nd quarter worth about $50,000. Finally, Steigerwald Gordon & Koch Inc. bought a new position in Coterra Energy in the 3rd quarter worth about $50,000. 87.92% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts have weighed in on the stock. William Blair started coverage on shares of Coterra Energy in a research note on Wednesday, November 26th. They set an “outperform” rating and a $36.00 price objective for the company. UBS Group increased their price target on shares of Coterra Energy from $32.00 to $33.00 and gave the company a “buy” rating in a report on Friday, December 12th. Piper Sandler reduced their price target on shares of Coterra Energy from $38.00 to $37.00 and set an “overweight” rating for the company in a research report on Tuesday, November 18th. Mizuho upped their price objective on Coterra Energy from $33.00 to $36.00 and gave the company an “outperform” rating in a research report on Thursday, January 15th. Finally, Wolfe Research cut their target price on Coterra Energy from $36.00 to $35.00 and set an “outperform” rating on the stock in a research note on Tuesday, November 4th. Sixteen analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $32.71.

Coterra Energy Stock Up 0.6%

Shares of Coterra Energy stock opened at $27.44 on Monday. Coterra Energy Inc. has a twelve month low of $22.33 and a twelve month high of $29.82. The company has a quick ratio of 0.98, a current ratio of 1.02 and a debt-to-equity ratio of 0.25. The company’s 50 day moving average is $26.10 and its 200 day moving average is $24.80. The company has a market cap of $20.89 billion, a price-to-earnings ratio of 12.64, a price-to-earnings-growth ratio of 0.61 and a beta of 0.36.

Coterra Energy (NYSE:CTRA) last posted its earnings results on Monday, November 3rd. The company reported $0.41 EPS for the quarter, missing analysts’ consensus estimates 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 11.23% and a net margin of 23.25%.The company’s revenue for the quarter was up 33.7% on a year-over-year basis. During the same period last year, the firm posted $0.32 EPS. Research analysts anticipate that Coterra Energy Inc. will post 1.54 EPS for the current year.

Coterra Energy Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, November 26th. Shareholders of record on Thursday, November 13th were issued a $0.22 dividend. The ex-dividend date of this dividend was Thursday, November 13th. This represents a $0.88 dividend on an annualized basis and a yield of 3.2%. Coterra Energy’s dividend payout ratio is currently 40.55%.

Coterra Energy Profile

Coterra Energy (NYSE: CTRA) is an independent oil and natural gas exploration and production company focused on the development, production and optimization of onshore hydrocarbon resources in the United States. The company’s operations center on the exploration, drilling, completion and production of crude oil, natural gas and natural gas liquids (NGLs), with an emphasis on maximizing operational efficiency and capital discipline across its asset base.

Its business activities include identifying and developing resource-rich acreage, operating producing wells, managing reservoir performance and marketing produced hydrocarbons to a range of midstream and energy customers.