Aberdeen Group plc Buys 151,882 Shares of Coterra Energy Inc. $CTRA

Key Points

• Aberdeen Group plc has significantly increased its stake in Coterra Energy Inc. by 80.7%, holding a total of 340,030 shares valued at approximately $9.81 million.
• Multiple institutional investors, including Vanguard Group Inc. and Pacer Advisors Inc., have also increased their holdings in Coterra, indicating strong institutional confidence in the company.
• Coterra Energy's recent earnings report showed a revenue increase of 54.6% year-over-year, although its earnings per share fell short of analyst expectations.

Aberdeen Group plc grew its holdings in Coterra Energy Inc. (NYSE:CTRA - Free Report) by 80.7% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 340,030 shares of the company's stock after buying an additional 151,882 shares during the period. Aberdeen Group plc's holdings in Coterra Energy were worth $9,812,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in CTRA. Donald L. Hagan LLC increased its position in Coterra Energy by 1.1% in the 1st quarter. Donald L. Hagan LLC now owns 35,754 shares of the company's stock valued at $1,033,000 after buying an additional 401 shares in the last quarter. Investors Research Corp lifted its holdings in shares of Coterra Energy by 45.2% in the 1st quarter. Investors Research Corp now owns 1,311 shares of the company's stock worth $38,000 after purchasing an additional 408 shares in the last quarter. Saxon Interests Inc. lifted its holdings in shares of 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 grew its position 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 increased its stake in Coterra Energy by 3.6% during the 1st quarter. Procyon Advisors LLC now owns 13,460 shares of the company's stock valued at $389,000 after purchasing an additional 469 shares in the last quarter. Institutional investors own 87.92% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on CTRA. UBS Group lowered their target price on shares of Coterra Energy from $32.00 to $30.00 and set a "buy" rating on the stock in a report on Friday, May 9th. Mizuho lowered their price target on Coterra Energy from $38.00 to $36.00 and set an "outperform" rating for the company in a research report on Tuesday, May 13th. Piper Sandler increased their target price on shares of Coterra Energy from $37.00 to $39.00 and gave the company an "overweight" rating in a report on Thursday, August 14th. Scotiabank restated an "outperform" rating on shares of Coterra Energy in a research note on Friday, July 11th. Finally, Barclays lifted their price target on Coterra Energy from $35.00 to $37.00 and gave the stock an "overweight" rating in a report on Monday, July 7th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat.com, Coterra Energy presently has an average rating of "Moderate Buy" and a consensus target price of $33.37.

Coterra Energy Price Performance

Shares of CTRA traded up $0.3350 during trading hours on Friday, reaching $23.7750. 4,496,978 shares of the company's stock traded hands, compared to its average volume of 6,616,784. The firm's 50 day simple moving average is $24.69 and its 200-day simple moving average is $25.70. The stock has a market cap of $18.14 billion, a PE ratio of 11.38, a price-to-earnings-growth ratio of 0.32 and a beta of 0.33. The company has a current ratio of 1.13, a quick ratio of 1.08 and a debt-to-equity ratio of 0.29. Coterra Energy Inc. has a 12 month low of $22.30 and a 12 month high of $29.95.

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

Coterra Energy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, August 28th. Shareholders of record on Thursday, August 14th will be issued a $0.22 dividend. The ex-dividend date is Thursday, August 14th. This represents a $0.88 annualized dividend and a yield of 3.7%. Coterra Energy's dividend payout ratio (DPR) is 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.