Principal Financial Group Inc. Purchases 30,055 Shares of Coterra Energy Inc. (NYSE:CTRA)

Principal Financial Group Inc. grew its stake in Coterra Energy Inc. (NYSE:CTRA - Free Report) by 3.4% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 911,842 shares of the company's stock after purchasing an additional 30,055 shares during the quarter. Principal Financial Group Inc. owned about 0.12% of Coterra Energy worth $26,352,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. Dark Forest Capital Management LP bought a new position in shares of Coterra Energy during the 4th quarter valued at approximately $942,000. State of Tennessee Department of Treasury lifted its stake in Coterra Energy by 7.1% in the fourth quarter. State of Tennessee Department of Treasury now owns 472,799 shares of the company's stock worth $12,075,000 after purchasing an additional 31,425 shares during the last quarter. BI Asset Management Fondsmaeglerselskab A S purchased a new stake in shares of Coterra Energy in the fourth quarter worth approximately $641,000. Intech Investment Management LLC raised its stake in shares of Coterra Energy by 56.7% during the fourth quarter. Intech Investment Management LLC now owns 67,858 shares of the company's stock valued at $1,733,000 after acquiring an additional 24,560 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC increased its holdings in Coterra Energy by 7.6% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 123,054 shares of the company's stock worth $3,577,000 after purchasing an additional 8,726 shares during the period. Institutional investors own 87.92% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on CTRA shares. The Goldman Sachs Group restated a "neutral" rating and issued a $31.00 price target on shares of Coterra Energy in a report on Tuesday, July 1st. Wells Fargo & Company reduced their price objective on shares of Coterra Energy from $33.00 to $31.00 and set an "overweight" rating for the company in a research report on Monday, June 16th. Scotiabank boosted their price target on shares of Coterra Energy from $33.00 to $35.00 and gave the company a "sector outperform" rating in a research report on Friday. Barclays upped their price objective on shares of Coterra Energy from $35.00 to $37.00 and gave the stock an "overweight" rating in a report on Monday, July 7th. Finally, Mizuho lowered their target price on Coterra Energy from $38.00 to $36.00 and set an "outperform" rating for the company in a research note on Tuesday, May 13th. Four equities research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $33.20.

Coterra Energy Stock Performance

CTRA stock traded up $0.20 during mid-day trading on Friday, reaching $25.30. 5,662,888 shares of the stock traded hands, compared to its average volume of 6,554,627. The company has a quick ratio of 0.86, a current ratio of 0.90 and a debt-to-equity ratio of 0.30. The business has a 50-day moving average of $25.18 and a two-hundred day moving average of $26.45. The firm has a market capitalization of $19.31 billion, a PE ratio of 14.71, a P/E/G ratio of 0.35 and a beta of 0.35. Coterra Energy Inc. has a 52 week low of $22.30 and a 52 week high of $29.95.

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

Coterra Energy Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, May 29th. Shareholders of record on Thursday, May 15th were given a $0.22 dividend. The ex-dividend date was Thursday, May 15th. This represents a $0.88 annualized dividend and a yield of 3.48%. Coterra Energy's dividend payout ratio is 51.16%.

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.