NFJ Investment Group LLC Invests $14.61 Million in Coterra Energy Inc. $CTRA

Key Points

• NFJ Investment Group LLC acquired 505,683 shares of Coterra Energy Inc., valued at approximately $14.6 million, indicating growing interest from institutional investors.
• Coterra Energy reported a quarterly earnings per share (EPS) of $0.48, which missed analysts' estimates, though revenue increased significantly by 54.6% year-over-year.
• The company declared a quarterly dividend of $0.22 per share, representing an annualized amount of $0.88 with a yield of 3.6%.

NFJ Investment Group LLC purchased a new stake in shares of Coterra Energy Inc. (NYSE:CTRA - Free Report) in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 505,683 shares of the company's stock, valued at approximately $14,614,000. NFJ Investment Group LLC owned about 0.07% of Coterra Energy at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in CTRA. Donald L. Hagan LLC grew its stake in shares of Coterra Energy by 1.1% during the 1st quarter. Donald L. Hagan LLC now owns 35,754 shares of the company's stock worth $1,033,000 after acquiring an additional 401 shares during the period. Investors Research Corp increased its holdings in Coterra Energy by 45.2% during the 1st quarter. Investors Research Corp now owns 1,311 shares of the company's stock worth $38,000 after acquiring an additional 408 shares during the period. Saxon Interests Inc. lifted its stake in Coterra Energy by 5.1% in the 1st quarter. Saxon Interests Inc. now owns 9,319 shares of the company's stock worth $269,000 after purchasing an additional 451 shares in the last quarter. Tectonic Advisors LLC boosted its holdings in Coterra Energy by 3.2% in the 1st quarter. Tectonic Advisors LLC now owns 14,834 shares of the company's stock valued at $429,000 after purchasing an additional 459 shares during the period. Finally, Procyon Advisors LLC raised its position in shares of Coterra Energy by 3.6% in the first quarter. Procyon Advisors LLC now owns 13,460 shares of the company's stock worth $389,000 after buying an additional 469 shares in the last quarter. 87.92% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on CTRA. Piper Sandler lifted their target price on shares of Coterra Energy from $37.00 to $39.00 and gave the company an "overweight" rating in a research report on Thursday, August 14th. Barclays lifted their price target on Coterra Energy from $35.00 to $37.00 and gave the stock an "overweight" rating in a research note on Monday, July 7th. Mizuho lowered their price objective on shares of Coterra Energy from $38.00 to $36.00 and set an "outperform" rating for the company in a research note on Tuesday, May 13th. Pickering Energy Partners lowered shares of Coterra Energy from an "outperform" rating to a "neutral" rating in a report on Tuesday, May 20th. Finally, The Goldman Sachs Group reaffirmed a "neutral" rating and set a $31.00 target price on shares of Coterra Energy in a research note on Tuesday, July 1st. Fourteen analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $33.61.

Coterra Energy Stock Performance

Shares of NYSE CTRA traded up $0.34 during midday trading on Wednesday, hitting $24.19. 2,451,005 shares of the company's stock traded hands, compared to its average volume of 6,916,895. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.08 and a current ratio of 1.13. Coterra Energy Inc. has a 1 year low of $22.30 and a 1 year high of $29.95. The stock has a market capitalization of $18.46 billion, a price-to-earnings ratio of 11.57, a price-to-earnings-growth ratio of 0.32 and a beta of 0.34. The firm has a fifty day moving average of $24.18 and a 200 day moving average of $25.37.

Coterra Energy (NYSE:CTRA - Get Free Report) last released its earnings results on Monday, August 4th. The company reported $0.48 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.50 by ($0.02). Coterra Energy had a return on equity of 10.99% and a net margin of 23.80%.The firm had revenue of $1.97 billion during the quarter, compared to analysts' expectations of $1.78 billion. During the same period in the prior year, the company posted $0.37 earnings per share. The company's revenue was up 54.6% compared to the same quarter last year. On average, analysts forecast that Coterra Energy Inc. will post 1.54 earnings per share for the current year.

Coterra Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 28th. Shareholders of record on Thursday, August 14th were issued a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a dividend yield of 3.6%. The ex-dividend date of this dividend was Thursday, August 14th. Coterra Energy's dividend payout ratio is 42.11%.

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.