Coterra Energy Inc. $CTRA Shares Purchased by Mutual of America Capital Management LLC

Key Points

• Mutual of America Capital Management LLC increased its holdings in Coterra Energy by 20.2% during the second quarter, owning 102,933 shares worth approximately $2.6 million.
• Coterra Energy reported a net revenue of $1.97 billion for the latest quarter, surpassing analysts' expectations, though earnings per share of $0.48 fell short of estimates.
• The company declared a quarterly dividend of $0.22, resulting in an annualized yield of 3.7% and a dividend payout ratio of 42.11%.

Mutual of America Capital Management LLC increased its holdings in Coterra Energy Inc. (NYSE:CTRA - Free Report) by 20.2% in the 2nd quarter, according to its most recent disclosure with the SEC. The firm owned 102,933 shares of the company's stock after acquiring an additional 17,303 shares during the period. Mutual of America Capital Management LLC's holdings in Coterra Energy were worth $2,612,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in CTRA. Chevy Chase Trust Holdings LLC lifted its stake in shares of Coterra Energy by 4.2% in the 2nd quarter. Chevy Chase Trust Holdings LLC now owns 403,149 shares of the company's stock valued at $10,232,000 after purchasing an additional 16,242 shares during the last quarter. Private Trust Co. NA raised its holdings in Coterra Energy by 366.7% in the 2nd quarter. Private Trust Co. NA now owns 12,321 shares of the company's stock valued at $313,000 after buying an additional 9,681 shares during the period. Nordea Investment Management AB lifted its position in Coterra Energy by 43.2% in the second quarter. Nordea Investment Management AB now owns 57,542 shares of the company's stock valued at $1,468,000 after buying an additional 17,373 shares during the last quarter. New York State Teachers Retirement System lifted its position in Coterra Energy by 0.7% in the second quarter. New York State Teachers Retirement System now owns 867,423 shares of the company's stock valued at $22,015,000 after buying an additional 6,122 shares during the last quarter. Finally, TD Asset Management Inc boosted its stake in Coterra Energy by 3.2% during the second quarter. TD Asset Management Inc now owns 271,253 shares of the company's stock worth $6,884,000 after buying an additional 8,493 shares during the period. Institutional investors and hedge funds own 87.92% of the company's stock.

Coterra Energy Stock Down 0.7%

Coterra Energy stock opened at $23.58 on Friday. The firm has a market capitalization of $18.00 billion, a P/E ratio of 11.28, a P/E/G ratio of 0.36 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 twelve month low of $22.33 and a twelve month high of $29.95. The stock's fifty day simple moving average is $23.74 and its 200-day simple moving average is $24.51.

Coterra Energy (NYSE:CTRA - Get Free Report) last released its earnings results on Monday, August 4th. The company reported $0.48 earnings per share (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 company had revenue of $1.97 billion during the quarter, compared to analysts' expectations of $1.78 billion. During the same quarter last year, the business posted $0.37 earnings per share. The company's revenue for the quarter was up 54.6% on a year-over-year basis. As a group, equities analysts expect that Coterra Energy Inc. will post 1.54 earnings per share for the current fiscal year.

Coterra Energy Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, August 28th. Investors of record on Thursday, August 14th were issued a $0.22 dividend. The ex-dividend date of this dividend was 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%.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on CTRA shares. Scotiabank reduced their price target on shares of Coterra Energy from $35.00 to $32.00 and set a "sector outperform" rating on the stock in a research note on Thursday, October 9th. Zacks Research downgraded shares of Coterra Energy from a "hold" rating to a "strong sell" rating in a report on Monday, October 13th. Wells Fargo & Company upped 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. Piper Sandler lowered their price target on Coterra Energy from $39.00 to $38.00 and set an "overweight" rating for the company in a research report on Tuesday. Finally, Mizuho dropped their price objective on Coterra Energy from $36.00 to $33.00 and set an "outperform" rating for the company in a research note on Monday, September 15th. Sixteen investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $32.60.

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.

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