Coterra Energy Inc. (NYSE:CTRA) Shares Acquired by Pacer Advisors Inc.

Key Points

• Pacer Advisors Inc. dramatically increased its stake in Coterra Energy by 5,145.4%, owning over 3 million shares worth approximately $89.6 million as of the latest filing.
• Coterra Energy reported a $0.80 earnings per share for the last quarter, exceeding estimates, with revenue of $924 million—a significant increase from the previous year's quarter.
• The company announced a quarterly dividend of $0.22 per share, reflecting an annualized yield of 3.70% and a dividend payout ratio of 51.16%.

Pacer Advisors Inc. increased its position in Coterra Energy Inc. (NYSE:CTRA - Free Report) by 5,145.4% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,100,064 shares of the company's stock after buying an additional 3,040,963 shares during the period. Pacer Advisors Inc. owned about 0.41% of Coterra Energy worth $89,592,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of the company. Cornerstone Planning Group LLC raised its stake in Coterra Energy by 175.6% during the first quarter. Cornerstone Planning Group LLC now owns 871 shares of the company's stock worth $25,000 after purchasing an additional 555 shares during the period. Raleigh Capital Management Inc. raised its stake in Coterra Energy by 463.5% during the first quarter. Raleigh Capital Management Inc. now owns 896 shares of the company's stock worth $26,000 after purchasing an additional 737 shares during the period. Wayfinding Financial LLC purchased a new position in Coterra Energy during the first quarter worth approximately $34,000. Investors Research Corp raised its stake in 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 period. Finally, Catalyst Capital Advisors LLC purchased a new stake in Coterra Energy during the first quarter worth approximately $46,000. Institutional investors and hedge funds own 87.92% of the company's stock.

Coterra Energy Stock Up 1.4%

NYSE CTRA traded up $0.33 during trading hours on Tuesday, reaching $24.14. 2,452,959 shares of the company traded hands, compared to its average volume of 7,061,013. Coterra Energy Inc. has a 12 month low of $22.30 and a 12 month high of $29.95. The company has a current ratio of 0.90, a quick ratio of 0.86 and a debt-to-equity ratio of 0.30. The stock has a market capitalization of $18.43 billion, a PE ratio of 14.04, a PEG ratio of 0.32 and a beta of 0.35. The company has a 50 day moving average of $25.17 and a two-hundred day moving average of $26.30.

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

Coterra Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 29th. Shareholders of record on Thursday, May 15th were paid a dividend of $0.22 per share. The ex-dividend date was Thursday, May 15th. This represents a $0.88 dividend on an annualized basis and a yield of 3.64%. Coterra Energy's dividend payout ratio (DPR) is 51.16%.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on CTRA shares. Raymond James Financial set a $38.00 price objective on shares of Coterra Energy and gave the stock an "outperform" rating in a research note on Friday, June 13th. Barclays boosted their price objective on shares of Coterra Energy from $35.00 to $37.00 and gave the stock an "overweight" rating in a research note on Monday, July 7th. Piper Sandler reiterated an "overweight" rating and set a $37.00 price objective (up from $36.00) on shares of Coterra Energy in a research note on Thursday, July 17th. Bank of America decreased their price objective on shares of Coterra Energy from $34.00 to $33.00 and set a "buy" rating for the company in a research note on Tuesday, April 29th. Finally, Scotiabank reiterated an "outperform" rating on shares of Coterra Energy in a research note on Friday, July 11th. Four analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $33.16.

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.