KBC Group NV Has $4.35 Million Stock Position in Coterra Energy Inc. (NYSE:CTRA)

KBC Group NV reduced its holdings in shares of Coterra Energy Inc. (NYSE:CTRA) by 60.9% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 181,422 shares of the company’s stock after selling 282,315 shares during the period. KBC Group NV’s holdings in Coterra Energy were worth $4,345,000 at the end of the most recent reporting period.

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

Coterra Energy Stock Up 0.6 %

Shares of NYSE:CTRA opened at $25.58 on Monday. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.56 and a current ratio of 1.61. Coterra Energy Inc. has a 52-week low of $22.30 and a 52-week high of $28.90. The business’s 50 day simple moving average is $23.95 and its two-hundred day simple moving average is $25.46. The firm has a market cap of $18.84 billion, a P/E ratio of 15.41, a PEG ratio of 1.67 and a beta of 0.22.

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

Coterra Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 27th. Stockholders of record on Thursday, November 14th will be issued a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 3.28%. The ex-dividend date is Thursday, November 14th. Coterra Energy’s dividend payout ratio is currently 50.60%.

Wall Street Analysts Forecast Growth

CTRA has been the topic of several analyst reports. Piper Sandler boosted their price objective on shares of Coterra Energy from $32.00 to $35.00 and gave the stock an “overweight” rating in a research note on Thursday. Stephens increased their price target on Coterra Energy from $28.00 to $29.00 and gave the company an “overweight” rating in a research note on Friday, November 1st. Roth Mkm raised 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 research note on Tuesday, August 27th. Morgan Stanley increased their target price on shares of Coterra Energy from $27.00 to $29.00 and gave the company an “equal weight” rating in a research report on Thursday. Finally, Wells Fargo & Company boosted their price target on shares of Coterra Energy from $32.00 to $35.00 and gave the stock an “overweight” rating in a research report on Friday. Two investment analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $32.41.

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.