Metis Global Partners LLC Increases Stock Position in Coterra Energy Inc. (NYSE:CTRA)

Metis Global Partners LLC raised its position in Coterra Energy Inc. (NYSE:CTRA) by 9.7% during the third quarter, Holdings Channel.com reports. The fund owned 32,074 shares of the company’s stock after purchasing an additional 2,844 shares during the quarter. Metis Global Partners LLC’s holdings in Coterra Energy were worth $768,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. BNP PARIBAS ASSET MANAGEMENT Holding S.A. purchased a new position in Coterra Energy during the 1st quarter valued at about $656,000. Blair William & Co. IL lifted its position in shares of Coterra Energy by 9.0% in the 1st quarter. Blair William & Co. IL now owns 25,606 shares of the company’s stock worth $714,000 after purchasing an additional 2,112 shares during the period. Intech Investment Management LLC boosted its stake in shares of Coterra Energy by 511.8% during the 1st quarter. Intech Investment Management LLC now owns 55,402 shares of the company’s stock valued at $1,545,000 after purchasing an additional 46,346 shares in the last quarter. Clearbridge Investments LLC purchased a new position in shares of Coterra Energy during the first quarter valued at about $28,967,000. Finally, UniSuper Management Pty Ltd raised its stake in Coterra Energy by 425.1% in the first quarter. UniSuper Management Pty Ltd now owns 44,050 shares of the company’s stock worth $1,228,000 after buying an additional 35,661 shares in the last quarter. 87.92% of the stock is owned by institutional investors.

Coterra Energy Trading Up 0.6 %

Coterra Energy stock opened at $25.58 on Monday. Coterra Energy Inc. has a one year low of $22.30 and a one year high of $28.90. The business’s fifty day moving average is $23.95 and its 200 day moving average is $25.46. The stock has a market capitalization of $18.84 billion, a PE ratio of 15.41, a price-to-earnings-growth 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 (NYSE:CTRA) last announced its quarterly earnings results on Thursday, October 31st. The company reported $0.32 EPS for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.03). The company 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%. The business’s revenue was up .2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.47 earnings per share. On average, sell-side analysts predict that Coterra Energy Inc. will post 1.53 EPS for the current year.

Coterra Energy Announces Dividend

The company also recently declared 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. The ex-dividend date is Thursday, November 14th. This represents a $0.84 annualized dividend and a dividend yield of 3.28%. Coterra Energy’s payout ratio is 50.60%.

Analysts Set New Price Targets

A number of research analysts have weighed in on CTRA shares. Roth Mkm upgraded Coterra Energy from a “neutral” rating to a “buy” rating and upped their target price for the stock from $25.00 to $29.00 in a report on Tuesday, August 27th. JPMorgan Chase & Co. reduced their price target on Coterra Energy from $31.00 to $26.00 and set an “overweight” rating on the stock in a research note on Thursday, September 12th. Stephens raised their price objective on Coterra Energy from $28.00 to $29.00 and gave the company an “overweight” rating in a research report on Friday, November 1st. UBS Group upped their target price on shares of Coterra Energy from $31.00 to $35.00 and gave the stock a “buy” rating in a research report on Friday. Finally, Barclays lifted their price target on shares of Coterra Energy from $31.00 to $33.00 and gave the company an “overweight” rating in a research report on Thursday. Two research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Coterra Energy has an average rating of “Moderate Buy” and a consensus price target of $32.41.

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.