Dimensional Fund Advisors LP Acquires 90,103 Shares of Coterra Energy Inc. $CTRA

Key Points

• Dimensional Fund Advisors LP acquired an additional 90,103 shares of Coterra Energy, increasing its holdings by 0.9%, bringing its total to approximately 10.45 million shares valued at $301.94 million.
• Several large investors, including Vanguard Group Inc. and Pacer Advisors Inc., significantly increased their positions in Coterra Energy in the first quarter of the year.
• Coterra Energy reported a quarterly EPS of $0.48, missing estimates, while revenue of $1.97 billion exceeded analyst expectations, showing a year-over-year revenue increase of 54.6%.

Dimensional Fund Advisors LP raised its position in shares of Coterra Energy Inc. (NYSE:CTRA - Free Report) by 0.9% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 10,448,823 shares of the company's stock after acquiring an additional 90,103 shares during the period. Dimensional Fund Advisors LP owned approximately 1.37% of Coterra Energy worth $301,940,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. Cornerstone Planning Group LLC boosted its holdings in shares of 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 acquiring an additional 555 shares during the period. Raleigh Capital Management Inc. boosted its holdings in shares of 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 acquiring an additional 737 shares during the period. Banque Cantonale Vaudoise bought a new stake in shares of Coterra Energy during the first quarter worth approximately $29,000. Wayfinding Financial LLC bought a new stake in shares of Coterra Energy during the first quarter worth approximately $34,000. Finally, Investors Research Corp boosted its holdings 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 acquiring an additional 408 shares during the period. Institutional investors own 87.92% of the company's stock.

Analyst Ratings Changes

CTRA has been the subject of several recent research reports. The Goldman Sachs Group reiterated a "neutral" rating and issued a $31.00 price target on shares of Coterra Energy in a research note on Tuesday, July 1st. Bank of America cut their price target on Coterra Energy from $34.00 to $33.00 and set a "buy" rating for the company in a research note on Tuesday, April 29th. Raymond James Financial set a $38.00 price target on Coterra Energy and gave the company an "outperform" rating in a research note on Friday, June 13th. Piper Sandler boosted their price target on Coterra Energy from $37.00 to $39.00 and gave the company an "overweight" rating in a research note on Thursday, August 14th. Finally, UBS Group cut their price target on Coterra Energy from $32.00 to $30.00 and set a "buy" rating for the company in a research note on Friday, May 9th. One analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat.com, Coterra Energy currently has an average rating of "Moderate Buy" and an average price target of $33.37.

Coterra Energy Trading Up 0.8%

NYSE CTRA traded up $0.1750 on Thursday, reaching $23.4050. The company had a trading volume of 3,708,598 shares, compared to its average volume of 7,064,450. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.13 and a quick ratio of 1.08. The business has a 50 day moving average of $24.80 and a two-hundred day moving average of $25.76. Coterra Energy Inc. has a fifty-two week low of $22.30 and a fifty-two week high of $29.95. The firm has a market cap of $17.86 billion, a price-to-earnings ratio of 11.20, a P/E/G ratio of 0.31 and a beta of 0.33.

Coterra Energy (NYSE:CTRA - Get Free Report) last issued its quarterly earnings results on Monday, August 4th. The company reported $0.48 earnings per share for the quarter, missing analysts' consensus estimates of $0.50 by ($0.02). The business had revenue of $1.97 billion for the quarter, compared to analyst estimates of $1.78 billion. Coterra Energy had a return on equity of 10.99% and a net margin of 23.80%.The business's revenue was up 54.6% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.37 earnings per share. Analysts forecast that Coterra Energy Inc. will post 1.54 EPS for the current year.

Coterra Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 28th. Investors of record on Thursday, August 14th will be given a $0.22 dividend. The ex-dividend date of this dividend is Thursday, August 14th. This represents a $0.88 annualized dividend and a yield of 3.8%. Coterra Energy's dividend payout ratio (DPR) is presently 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.