Candriam S.C.A. Boosts Stock Holdings in Coterra Energy Inc. $CTRA

Key Points

• Candriam S.C.A. increased its holdings in Coterra Energy Inc. by 45.4%, owning a total of 42,202 shares worth approximately $1.22 million.
• In the latest earnings report, Coterra Energy missed EPS estimates with $0.48, while revenue surged to $1.97 billion, exceeding expectations.
• The company declared a quarterly dividend of $0.22 per share, representing an annual yield of 3.7% and a payout ratio of 42.11%.

Candriam S.C.A. raised its holdings in shares of Coterra Energy Inc. (NYSE:CTRA - Free Report) by 45.4% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 42,202 shares of the company's stock after buying an additional 13,179 shares during the period. Candriam S.C.A.'s holdings in Coterra Energy were worth $1,220,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the business. Level Four Advisory Services LLC boosted its position in Coterra Energy by 10.0% during the first quarter. Level Four Advisory Services LLC now owns 210,756 shares of the company's stock valued at $6,091,000 after buying an additional 19,239 shares during the period. Credit Agricole S A boosted its position in Coterra Energy by 8.8% during the first quarter. Credit Agricole S A now owns 211,816 shares of the company's stock valued at $6,121,000 after buying an additional 17,137 shares during the period. Texas Capital Bank Wealth Management Services Inc purchased a new stake in Coterra Energy during the first quarter valued at about $266,000. Fuller & Thaler Asset Management Inc. boosted its position in Coterra Energy by 42.5% during the first quarter. Fuller & Thaler Asset Management Inc. now owns 272,900 shares of the company's stock valued at $7,887,000 after buying an additional 81,432 shares during the period. Finally, Wellington Management Group LLP boosted its position in Coterra Energy by 15.3% during the first quarter. Wellington Management Group LLP now owns 83,631,117 shares of the company's stock valued at $2,416,939,000 after buying an additional 11,102,350 shares during the period. 87.92% of the stock is currently owned by hedge funds and other institutional investors.

Coterra Energy Trading Up 1.4%

Shares of CTRA opened at $23.7750 on Friday. The firm's 50-day moving average price is $24.69 and its 200-day moving average price is $25.68. The firm has a market capitalization of $18.14 billion, a price-to-earnings ratio of 11.38, a PEG 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 1-year low of $22.30 and a 1-year high of $29.95.

Coterra Energy (NYSE:CTRA - Get Free Report) last announced its earnings results on Monday, August 4th. The company reported $0.48 earnings per share for the quarter, missing analysts' consensus estimates of $0.50 by ($0.02). The company had revenue of $1.97 billion for the quarter, compared to the consensus estimate of $1.78 billion. Coterra Energy had a net margin of 23.80% and a return on equity of 10.99%. The company's revenue for the quarter was up 54.6% on a year-over-year basis. During the same period in the previous year, the firm posted $0.37 EPS. Sell-side analysts anticipate 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. Investors of record on Thursday, August 14th will be paid a dividend of $0.22 per share. The ex-dividend date of this dividend is Thursday, August 14th. This represents a $0.88 annualized dividend and a yield of 3.7%. Coterra Energy's payout ratio is presently 42.11%.

Analyst Ratings Changes

A number of equities research analysts have issued reports on CTRA shares. Mizuho cut their price target on shares of Coterra Energy from $38.00 to $36.00 and set an "outperform" rating on the stock in a report on Tuesday, May 13th. Piper Sandler raised their price target on shares of Coterra Energy from $37.00 to $39.00 and gave the stock an "overweight" rating in a report on Thursday, August 14th. Pickering Energy Partners lowered shares of Coterra Energy from an "outperform" rating to a "neutral" rating in a report on Tuesday, May 20th. Wells Fargo & Company raised their price target on shares of Coterra Energy from $32.00 to $33.00 and gave the stock an "overweight" rating in a report on Thursday, August 14th. Finally, Scotiabank reissued an "outperform" rating on shares of Coterra Energy in a report on Friday, July 11th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and four have given a Hold rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $33.37.

About Coterra Energy

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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