Commerzbank Aktiengesellschaft FI Acquires New Shares in Coterra Energy Inc. (NYSE:CTRA)

Commerzbank Aktiengesellschaft FI acquired a new stake in Coterra Energy Inc. (NYSE:CTRA) in the third quarter, according to its most recent filing with the SEC. The fund acquired 29,111 shares of the company’s stock, valued at approximately $698,000.

A number of other hedge funds have also bought and sold shares of the business. King Luther Capital Management Corp grew its stake in Coterra Energy by 4.4% in the 2nd quarter. King Luther Capital Management Corp now owns 6,783,690 shares of the company’s stock valued at $180,921,000 after buying an additional 285,774 shares in the last quarter. Disciplined Growth Investors Inc. MN grew its position in shares of Coterra Energy by 1.0% during the 2nd quarter. Disciplined Growth Investors Inc. MN now owns 5,063,920 shares of the company’s stock valued at $135,055,000 after purchasing an additional 51,249 shares in the last quarter. American Century Companies Inc. grew its position in shares of Coterra Energy by 29.1% during the 2nd quarter. American Century Companies Inc. now owns 4,498,227 shares of the company’s stock valued at $119,968,000 after purchasing an additional 1,013,107 shares in the last quarter. Equity Investment Corp grew its position in shares of Coterra Energy by 0.7% during the 2nd quarter. Equity Investment Corp now owns 3,227,678 shares of the company’s stock valued at $86,082,000 after purchasing an additional 22,017 shares in the last quarter. Finally, Captrust Financial Advisors grew its position in shares of Coterra Energy by 4.6% during the 1st quarter. Captrust Financial Advisors now owns 2,952,024 shares of the company’s stock valued at $78,422,000 after purchasing an additional 128,720 shares in the last quarter. 87.92% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

CTRA has been the subject of a number of recent analyst reports. BMO Capital Markets upgraded shares of Coterra Energy to a “hold” rating in a research report on Wednesday, July 3rd. Wolfe Research initiated coverage on shares of Coterra Energy in a research report on Thursday, July 18th. They set an “outperform” rating and a $35.00 price target for the company. Wells Fargo & Company reduced their price target on shares of Coterra Energy from $34.00 to $32.00 and set an “overweight” rating for the company in a research report on Tuesday, October 1st. Piper Sandler dropped their price objective on shares of Coterra Energy from $39.00 to $31.00 and set an “overweight” rating for the company in a report on Thursday, August 15th. Finally, Roth Mkm raised shares of Coterra Energy from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $25.00 to $29.00 in a report on Tuesday, August 27th. Two equities research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Coterra Energy currently has a consensus rating of “Moderate Buy” and an average price target of $32.06.

Coterra Energy Stock Performance

Coterra Energy stock opened at $23.68 on Thursday. The company has a quick ratio of 1.38, a current ratio of 1.40 and a debt-to-equity ratio of 0.16. The company has a market capitalization of $17.62 billion, a PE ratio of 13.69, a P/E/G ratio of 1.41 and a beta of 0.22. The firm has a fifty day simple moving average of $23.84 and a two-hundred day simple moving average of $25.88. Coterra Energy Inc. has a twelve month low of $22.30 and a twelve month high of $28.90.

Coterra Energy (NYSE:CTRA) last issued its quarterly earnings data on Thursday, August 1st. The company reported $0.37 EPS for the quarter, missing the consensus estimate of $0.39 by ($0.02). The firm had revenue of $1.27 billion for the quarter, compared to the consensus estimate of $1.32 billion. Coterra Energy had a net margin of 23.18% and a return on equity of 10.48%. The business’s revenue was up 7.3% on a year-over-year basis. During the same period last year, the company posted $0.38 earnings per share. Research analysts expect that Coterra Energy Inc. will post 1.72 EPS for the current year.

Coterra Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 29th. Stockholders of record on Thursday, August 15th were paid a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a dividend yield of 3.55%. The ex-dividend date of this dividend was Thursday, August 15th. Coterra Energy’s dividend payout ratio (DPR) is 48.55%.

Coterra Energy 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.