Coterra Energy Inc. $CTRA Holdings Raised by American Century Companies Inc.

Key Points

• American Century Companies Inc. increased its stake in Coterra Energy Inc. by 7.5%, acquiring an additional 371,391 shares during the first quarter, bringing its total ownership to approximately 5.3 million shares valued at $153.7 million.
• Major institutional investors like Vanguard Group and Pacer Advisors also boosted their holdings in Coterra Energy, with 87.92% of its stock now owned by institutional investors.
• Coterra Energy announced a quarterly dividend of $0.22, resulting in an annualized payout of $0.88 and a dividend yield of 3.7%.

American Century Companies Inc. boosted its stake in shares of Coterra Energy Inc. (NYSE:CTRA - Free Report) by 7.5% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 5,318,524 shares of the company's stock after purchasing an additional 371,391 shares during the quarter. American Century Companies Inc. owned approximately 0.70% of Coterra Energy worth $153,705,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in CTRA. Cornerstone Planning Group LLC boosted its position in Coterra Energy by 175.6% during the 1st quarter. Cornerstone Planning Group LLC now owns 871 shares of the company's stock valued at $25,000 after purchasing an additional 555 shares during the period. Raleigh Capital Management Inc. boosted its position in Coterra Energy by 463.5% during the 1st quarter. Raleigh Capital Management Inc. now owns 896 shares of the company's stock valued at $26,000 after purchasing an additional 737 shares during the period. Banque Cantonale Vaudoise acquired a new position in Coterra Energy during the 1st quarter valued at approximately $29,000. Wayfinding Financial LLC acquired a new position in Coterra Energy during the 1st quarter worth $34,000. Finally, Investors Research Corp grew its stake in shares of Coterra Energy by 45.2% in the first 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. Institutional investors and hedge funds own 87.92% of the company's stock.

Analysts Set New Price Targets

Several research firms have recently issued reports on CTRA. UBS Group decreased their price target on Coterra Energy from $32.00 to $30.00 and set a "buy" rating for the company in a research note on Friday, May 9th. Bank of America decreased their price target on Coterra Energy from $34.00 to $33.00 and set a "buy" rating for the company in a research note on Tuesday, April 29th. Scotiabank reissued an "outperform" rating on shares of Coterra Energy in a research note on Friday, July 11th. Raymond James Financial set a $38.00 price target on Coterra Energy and gave the stock an "outperform" rating in a research note on Friday, June 13th. Finally, Wells Fargo & Company increased their price target on Coterra Energy from $32.00 to $33.00 and gave the stock an "overweight" rating in a research note on Thursday, August 14th. One research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and four have issued a Hold rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $33.37.

Coterra Energy Price Performance

CTRA stock traded up $0.1540 during trading hours on Wednesday, hitting $23.2540. 2,681,782 shares of the stock traded hands, compared to its average volume of 7,082,793. The stock has a 50-day simple moving average of $24.86 and a 200 day simple moving average of $25.78. Coterra Energy Inc. has a one year low of $22.30 and a one year high of $29.95. The company has a market cap of $17.75 billion, a P/E ratio of 11.15, a P/E/G ratio of 0.31 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 (NYSE:CTRA - Get Free Report) last announced its earnings results on Monday, August 4th. The company reported $0.48 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 company had revenue of $1.97 billion for the quarter, compared to analysts' expectations of $1.78 billion. During the same period in the prior year, the company earned $0.37 earnings per share. The company's revenue for the quarter was up 54.6% on a year-over-year basis. Equities analysts forecast that Coterra Energy Inc. will post 1.54 earnings per share for the current year.

Coterra Energy Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, August 28th. Stockholders of record on Thursday, August 14th will be issued a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a dividend yield of 3.8%. The ex-dividend date of this dividend is Thursday, August 14th. Coterra Energy's dividend payout ratio is currently 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.