CIBC Asset Management Inc Has $3.03 Million Position in Coterra Energy Inc. (NYSE:CTRA)

CIBC Asset Management Inc grew its position in Coterra Energy Inc. (NYSE:CTRA) by 6.4% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 126,561 shares of the company’s stock after buying an additional 7,649 shares during the period. CIBC Asset Management Inc’s holdings in Coterra Energy were worth $3,031,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in CTRA. Fortitude Family Office LLC lifted its stake in Coterra Energy by 154.9% in the second quarter. Fortitude Family Office LLC now owns 933 shares of the company’s stock valued at $25,000 after buying an additional 567 shares in the last quarter. Larson Financial Group LLC lifted its position in Coterra Energy by 98.0% during the 2nd quarter. Larson Financial Group LLC now owns 1,081 shares of the company’s stock worth $29,000 after buying an additional 535 shares in the last quarter. Values First Advisors Inc. acquired a new position in shares of Coterra Energy during the 3rd quarter worth about $57,000. Tobam bought a new stake in Coterra Energy during the third quarter worth about $63,000. Finally, EverSource Wealth Advisors LLC boosted its position in Coterra Energy by 31.0% during the first quarter. EverSource Wealth Advisors LLC now owns 2,351 shares of the company’s stock valued at $64,000 after purchasing an additional 557 shares during the last quarter. Institutional investors own 87.92% of the company’s stock.

Analyst Upgrades and Downgrades

CTRA has been the topic of a number of recent analyst reports. Roth Capital upgraded shares of Coterra Energy from a “hold” rating to a “strong-buy” rating in a report on Tuesday, August 27th. Roth Mkm raised Coterra Energy from a “neutral” rating to a “buy” rating and raised their price objective for the company from $25.00 to $29.00 in a research report on Tuesday, August 27th. Morgan Stanley boosted their target price on Coterra Energy from $27.00 to $29.00 and gave the stock an “equal weight” rating in a report on Thursday, November 14th. JPMorgan Chase & Co. reduced their price objective on shares of Coterra Energy from $31.00 to $26.00 and set an “overweight” rating for the company in a research report on Thursday, September 12th. Finally, Wells Fargo & Company lifted their target price on shares of Coterra Energy from $32.00 to $35.00 and gave the stock an “overweight” rating in a report on Friday. Two analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $32.41.

Coterra Energy Stock Performance

Shares of Coterra Energy stock opened at $26.12 on Tuesday. The company’s 50 day moving average price is $23.95 and its two-hundred day moving average price is $25.45. The firm has a market capitalization of $19.24 billion, a P/E ratio of 15.73, a P/E/G ratio of 1.67 and a beta of 0.22. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.61 and a quick ratio of 1.56. Coterra Energy Inc. has a fifty-two week low of $22.30 and a fifty-two week high of $28.90.

Coterra Energy (NYSE:CTRA) last released its quarterly earnings data on Thursday, October 31st. The company reported $0.32 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.35 by ($0.03). The firm had revenue of $1.36 billion during the quarter, compared to analyst estimates of $1.28 billion. Coterra Energy had a net margin of 21.91% and a return on equity of 9.38%. The business’s quarterly revenue was up .2% compared to the same quarter last year. During the same period in the prior year, the company earned $0.47 EPS. On average, equities analysts forecast that Coterra Energy Inc. will post 1.53 earnings per share for the current fiscal year.

Coterra Energy Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 27th. Shareholders of record on Thursday, November 14th will be given a $0.21 dividend. The ex-dividend date is Thursday, November 14th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 3.22%. Coterra Energy’s dividend payout ratio (DPR) is presently 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.