Coterra Energy Inc. (NYSE:CTRA) Shares Acquired by Mirae Asset Global Investments Co. Ltd.

Mirae Asset Global Investments Co. Ltd. raised its stake in shares of Coterra Energy Inc. (NYSE:CTRA - Free Report) by 12.6% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 680,836 shares of the company's stock after acquiring an additional 76,012 shares during the period. Mirae Asset Global Investments Co. Ltd. owned approximately 0.09% of Coterra Energy worth $19,492,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in CTRA. Investors Research Corp raised its stake in shares of Coterra Energy by 45.2% during 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 during the last quarter. Plato Investment Management Ltd purchased a new stake in shares of Coterra Energy in the fourth quarter valued at about $43,000. VSM Wealth Advisory LLC purchased a new position in Coterra Energy during the fourth quarter worth about $46,000. Alpine Bank Wealth Management purchased a new position in Coterra Energy in the first quarter valued at about $47,000. Finally, Nemes Rush Group LLC acquired a new stake in Coterra Energy in the fourth quarter valued at $48,000. 87.92% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts have recently issued reports on the company. Wells Fargo & Company cut their price target on Coterra Energy from $33.00 to $31.00 and set an "overweight" rating for the company in a research note on Monday, June 16th. Williams Trading set a $37.00 target price on shares of Coterra Energy in a research report on Wednesday, March 5th. Pickering Energy Partners downgraded shares of Coterra Energy from an "outperform" rating to a "neutral" rating in a report on Tuesday, May 20th. JPMorgan Chase & Co. cut their price objective on Coterra Energy from $36.00 to $33.00 and set an "overweight" rating for the company in a research report on Thursday, March 13th. Finally, Bank of America reduced their target price on Coterra Energy from $34.00 to $33.00 and set a "buy" rating on the stock in a research note on Tuesday, April 29th. Four research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Coterra Energy presently has an average rating of "Moderate Buy" and an average price target of $33.30.

Coterra Energy Trading Down 0.9%

CTRA traded down $0.24 during trading on Monday, hitting $25.38. 538,209 shares of the company's stock were exchanged, compared to its average volume of 6,465,423. Coterra Energy Inc. has a 1 year low of $22.30 and a 1 year high of $29.95. The stock has a 50 day moving average price of $25.20 and a 200 day moving average price of $26.41. The firm has a market cap of $19.37 billion, a P/E ratio of 14.75, a price-to-earnings-growth ratio of 0.35 and a beta of 0.34. The company has a current ratio of 0.90, a quick ratio of 0.86 and a debt-to-equity ratio of 0.30.

Coterra Energy (NYSE:CTRA - Get Free Report) last released its quarterly earnings data on Monday, May 5th. The company reported $0.80 EPS for the quarter, beating the consensus estimate of $0.71 by $0.09. Coterra Energy had a return on equity of 10.61% and a net margin of 21.67%. The company had revenue of $924.00 million for the quarter, compared to analyst estimates of $1.92 billion. During the same period last year, the company posted $0.51 earnings per share. The firm's revenue was up 32.9% compared to the same quarter last year. As a group, analysts expect that Coterra Energy Inc. will post 1.54 EPS for the current fiscal year.

Coterra Energy Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, May 29th. Investors of record on Thursday, May 15th were issued a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a yield of 3.47%. The ex-dividend date of this dividend was Thursday, May 15th. Coterra Energy's payout ratio is 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.