Allianz Asset Management GmbH Acquires 19,452 Shares of Coterra Energy Inc. (NYSE:CTRA)

Allianz Asset Management GmbH boosted its position in shares of Coterra Energy Inc. (NYSE:CTRA - Free Report) by 18.3% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 125,776 shares of the company's stock after buying an additional 19,452 shares during the period. Allianz Asset Management GmbH's holdings in Coterra Energy were worth $3,635,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Dark Forest Capital Management LP acquired a new position in Coterra Energy during the fourth quarter worth approximately $942,000. State of Tennessee Department of Treasury raised its position in Coterra Energy by 7.1% during the 4th quarter. State of Tennessee Department of Treasury now owns 472,799 shares of the company's stock worth $12,075,000 after buying an additional 31,425 shares during the last quarter. BI Asset Management Fondsmaeglerselskab A S acquired a new stake in shares of Coterra Energy in the 4th quarter worth $641,000. Allspring Global Investments Holdings LLC boosted its holdings in shares of Coterra Energy by 7.6% in the first quarter. Allspring Global Investments Holdings LLC now owns 123,054 shares of the company's stock valued at $3,577,000 after acquiring an additional 8,726 shares in the last quarter. Finally, Vontobel Holding Ltd. acquired a new position in shares of Coterra Energy during the first quarter worth about $233,000. Institutional investors and hedge funds own 87.92% of the company's stock.

Wall Street Analysts Forecast Growth

CTRA has been the subject of a number of recent analyst reports. Wells Fargo & Company reduced their target price on Coterra Energy from $33.00 to $31.00 and set an "overweight" rating for the company in a report on Monday, June 16th. Mizuho reduced their target price on Coterra Energy from $38.00 to $36.00 and set an "outperform" rating for the company in a report on Tuesday, May 13th. Barclays raised their target price on Coterra Energy from $35.00 to $37.00 and gave the company an "overweight" rating in a report on Monday, July 7th. Piper Sandler reiterated an "overweight" rating and set a $37.00 target price (up from $36.00) on shares of Coterra Energy in a research report on Thursday, July 17th. Finally, Scotiabank reiterated an "outperform" rating on shares of Coterra Energy in a research report on Friday, July 11th. Four equities research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, Coterra Energy has an average rating of "Moderate Buy" and a consensus price target of $33.16.

Coterra Energy Price Performance

Shares of CTRA traded up $0.12 during mid-day trading on Thursday, reaching $24.41. The company had a trading volume of 10,990,243 shares, compared to its average volume of 7,121,261. Coterra Energy Inc. has a twelve month low of $22.30 and a twelve month high of $29.95. The company has a debt-to-equity ratio of 0.30, a current ratio of 0.90 and a quick ratio of 0.86. The company's 50-day moving average is $25.15 and its 200-day moving average is $26.27. The company has a market capitalization of $18.63 billion, a P/E ratio of 14.19, a P/E/G ratio of 0.33 and a beta of 0.35.

Coterra Energy (NYSE:CTRA - Get Free Report) last issued its quarterly earnings data on Monday, May 5th. The company reported $0.80 EPS for the quarter, topping analysts' consensus estimates of $0.71 by $0.09. Coterra Energy had a net margin of 21.67% and a return on equity of 10.61%. The firm had revenue of $924.00 million for the quarter, compared to analyst estimates of $1.92 billion. During the same quarter in the prior year, the firm earned $0.51 EPS. The company's revenue was up 32.9% on a year-over-year basis. On average, equities analysts anticipate that Coterra Energy Inc. will post 1.54 EPS for the current year.

Coterra Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 29th. Investors of record on Thursday, May 15th were paid a dividend of $0.22 per share. The ex-dividend date of this dividend was Thursday, May 15th. This represents a $0.88 annualized dividend and a yield of 3.6%. Coterra Energy's dividend payout ratio (DPR) is presently 51.16%.

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.