Aberdeen Group plc Buys 44,252 Shares of Coterra Energy Inc. $CTRA

Key Points

• Aberdeen Group plc increased its stake in Coterra Energy Inc. by 13% during the second quarter, now holding 384,282 shares valued at $9.75 million after purchasing an additional 44,252 shares.
• Recent research reports have seen mixed adjustments to Coterra Energy's price targets, with some analysts lowering their targets while others maintain a bullish outlook, resulting in an average price target of $32.50.
• Coterra Energy recently declared a quarterly dividend of $0.22 per share, which equates to a 3.8% yield based on an annual payout of $0.88.

Aberdeen Group plc lifted its stake in shares of Coterra Energy Inc. (NYSE:CTRA - Free Report) by 13.0% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 384,282 shares of the company's stock after purchasing an additional 44,252 shares during the quarter. Aberdeen Group plc owned 0.05% of Coterra Energy worth $9,753,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Commerzbank Aktiengesellschaft FI raised its stake in shares of Coterra Energy by 9.1% during the 2nd quarter. Commerzbank Aktiengesellschaft FI now owns 39,953 shares of the company's stock valued at $1,015,000 after purchasing an additional 3,325 shares during the period. Coordinated Financial Services Inc. purchased a new position in shares of Coterra Energy during the 2nd quarter valued at $216,000. Callan Family Office LLC grew its position in shares of Coterra Energy by 128.0% during the 2nd quarter. Callan Family Office LLC now owns 46,611 shares of the company's stock valued at $1,183,000 after purchasing an additional 26,172 shares in the last quarter. US Bancorp DE grew its position in shares of Coterra Energy by 1.9% during the 2nd quarter. US Bancorp DE now owns 1,910,495 shares of the company's stock valued at $48,488,000 after purchasing an additional 35,880 shares in the last quarter. Finally, Tectonic Advisors LLC grew its position in shares of Coterra Energy by 32.3% during the 2nd quarter. Tectonic Advisors LLC now owns 19,620 shares of the company's stock valued at $498,000 after purchasing an additional 4,786 shares in the last quarter. 87.92% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts have recently commented on CTRA shares. Roth Capital reduced their price target on shares of Coterra Energy from $27.00 to $26.00 and set a "buy" rating for the company in a research report on Wednesday. Raymond James Financial restated an "outperform" rating and set a $34.00 price target (down from $38.00) on shares of Coterra Energy in a research report on Thursday, September 11th. Zacks Research lowered shares of Coterra Energy from a "hold" rating to a "strong sell" rating in a research report on Monday. Barclays cut their target price on shares of Coterra Energy from $37.00 to $35.00 and set an "overweight" rating for the company in a research report on Tuesday, October 7th. Finally, JPMorgan Chase & Co. upped their target price on shares of Coterra Energy from $33.00 to $35.00 and gave the stock an "overweight" rating in a research report on Tuesday, October 7th. Sixteen investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $32.50.

Coterra Energy Stock Performance

NYSE CTRA opened at $23.22 on Thursday. The company has a 50-day simple moving average of $23.85 and a two-hundred day simple moving average of $24.69. The company has a quick ratio of 1.08, a current ratio of 1.13 and a debt-to-equity ratio of 0.29. Coterra Energy Inc. has a 12-month low of $22.46 and a 12-month high of $29.95. The firm has a market cap of $17.72 billion, a price-to-earnings ratio of 11.11, a PEG ratio of 0.34 and a beta of 0.29.

Coterra Energy (NYSE:CTRA - Get Free Report) last posted its quarterly 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 net margin of 23.80% and a return on equity of 10.99%. The business had revenue of $1.97 billion for the quarter, compared to analysts' expectations of $1.78 billion. During the same quarter in the previous year, the company earned $0.37 earnings per share. The business's quarterly revenue was up 54.6% on a year-over-year basis. On average, equities analysts forecast that Coterra Energy Inc. will post 1.54 EPS for the current year.

Coterra Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 28th. Shareholders of record on Thursday, August 14th were given a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a yield of 3.8%. The ex-dividend date was Thursday, August 14th. Coterra Energy's dividend payout ratio is presently 42.11%.

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.

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