Coterra Energy Inc. $CTRA Shares Purchased by Mirae Asset Global Investments Co. Ltd.

Key Points

• Mirae Asset Global Investments Co. Ltd. increased its stake in Coterra Energy by 15.4%, now owning approximately 785,835 shares valued at about $19.9 million.
• Several analysts have set new price targets for Coterra Energy, with Piper Sandler increasing theirs from $37.00 to $39.00 and maintaining an "overweight" rating.
• Coterra Energy reported a quarterly dividend of $0.22, representing an annual yield of 3.8%, with a current dividend payout ratio of 42.11%.

Mirae Asset Global Investments Co. Ltd. grew its position in shares of Coterra Energy Inc. (NYSE:CTRA - Free Report) by 15.4% during the 2nd quarter, according to the company in its most recent filing with the SEC. The firm owned 785,835 shares of the company's stock after purchasing an additional 104,999 shares during the quarter. Mirae Asset Global Investments Co. Ltd. owned 0.10% of Coterra Energy worth $19,944,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. Wealth Enhancement Advisory Services LLC raised its position in Coterra Energy by 10.4% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 50,388 shares of the company's stock worth $1,287,000 after acquiring an additional 4,748 shares in the last quarter. GAMMA Investing LLC raised its holdings in shares of Coterra Energy by 5,558.5% in the 1st quarter. GAMMA Investing LLC now owns 676,867 shares of the company's stock worth $19,561,000 after purchasing an additional 664,905 shares in the last quarter. Merit Financial Group LLC lifted its stake in Coterra Energy by 78.4% during the first quarter. Merit Financial Group LLC now owns 17,936 shares of the company's stock valued at $518,000 after purchasing an additional 7,881 shares during the last quarter. Hennion & Walsh Asset Management Inc. lifted its stake in Coterra Energy by 3.8% during the first quarter. Hennion & Walsh Asset Management Inc. now owns 63,572 shares of the company's stock valued at $1,837,000 after purchasing an additional 2,331 shares during the last quarter. Finally, Portside Wealth Group LLC bought a new stake in Coterra Energy during the first quarter worth approximately $276,000. Institutional investors and hedge funds own 87.92% of the company's stock.

Analysts Set New Price Targets

Several research analysts have issued reports on the company. Piper Sandler upped their price target on Coterra Energy from $37.00 to $39.00 and gave the company an "overweight" rating in a report on Thursday, August 14th. Mizuho cut their target price on Coterra Energy from $36.00 to $33.00 and set an "outperform" rating on the stock in a research report on Monday, September 15th. The Goldman Sachs Group reaffirmed a "neutral" rating and set a $31.00 target price on shares of Coterra Energy in a report on Tuesday, July 1st. Weiss Ratings reissued a "hold (c)" rating on shares of Coterra Energy in a research note on Saturday, September 27th. Finally, Wells Fargo & Company boosted their price objective on Coterra Energy from $32.00 to $33.00 and gave the stock an "overweight" rating in a report on Thursday, August 14th. Fourteen research analysts have rated the stock with a Buy rating and five have given 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 $33.22.

Coterra Energy Stock Up 0.6%

NYSE:CTRA opened at $23.30 on Friday. The business's fifty day moving average price is $23.93 and its 200 day moving average price is $24.99. The firm has a market capitalization of $17.78 billion, a price-to-earnings ratio of 11.15, a PEG ratio of 0.33 and a beta of 0.29. 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 $22.46 and a 1-year 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 earnings per share for the quarter, missing the consensus estimate of $0.50 by ($0.02). The business had revenue of $1.97 billion for the quarter, compared to analysts' expectations 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 was up 54.6% compared to the same quarter last year. During the same period last year, the firm earned $0.37 EPS. On average, sell-side analysts forecast that Coterra Energy Inc. will post 1.54 earnings per share for the current fiscal year.

Coterra Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 28th. Shareholders of record on Thursday, August 14th were paid a $0.22 dividend. 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 currently 42.11%.

Coterra Energy Company 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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