Empowered Funds LLC Boosts Holdings in Coterra Energy Inc. $CTRA

Key Points

• Empowered Funds LLC increased its stake in Coterra Energy Inc. by 6.5% during the 1st quarter, owning approximately 593,950 shares valued at $17.2 million.
• Analysts have mixed ratings for the stock, with 14 analysts giving it a Buy rating and an average price target of $33.61, despite a recent downgrade from Pickering Energy Partners to a "neutral" rating.
• Coterra Energy reported a net margin of 23.8% and revenue of $1.97 billion for the quarter, significantly exceeding analyst estimates and showing a year-over-year revenue growth of 54.6%.

Empowered Funds LLC increased its stake in shares of Coterra Energy Inc. (NYSE:CTRA - Free Report) by 6.5% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 593,950 shares of the company's stock after buying an additional 36,028 shares during the quarter. Empowered Funds LLC owned 0.08% of Coterra Energy worth $17,165,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of CTRA. Wellington Management Group LLP grew its position in Coterra Energy by 15.3% in the 1st quarter. Wellington Management Group LLP now owns 83,631,117 shares of the company's stock worth $2,416,939,000 after purchasing an additional 11,102,350 shares in the last quarter. Vanguard Group Inc. lifted its position in shares of Coterra Energy by 4.3% during the 1st quarter. Vanguard Group Inc. now owns 92,337,673 shares of the company's stock worth $2,668,559,000 after buying an additional 3,818,700 shares in the last quarter. Pacer Advisors Inc. boosted its stake in shares of Coterra Energy by 5,145.4% in the 1st quarter. Pacer Advisors Inc. now owns 3,100,064 shares of the company's stock worth $89,592,000 after buying an additional 3,040,963 shares during the last quarter. Zurich Insurance Group Ltd FI bought a new position in shares of Coterra Energy in the fourth quarter valued at approximately $57,877,000. Finally, Nuveen LLC bought a new position in shares of Coterra Energy in the first quarter valued at approximately $64,173,000. 87.92% of the stock is currently owned by institutional investors.

Coterra Energy Stock Performance

NYSE:CTRA traded down $0.01 on Friday, reaching $24.36. 4,146,724 shares of the company's stock were exchanged, compared to its average volume of 5,107,425. 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 firm has a market cap of $18.59 billion, a price-to-earnings ratio of 11.66, a P/E/G ratio of 0.34 and a beta of 0.34. Coterra Energy Inc. has a 52 week low of $22.46 and a 52 week high of $29.95. The stock has a fifty day simple moving average of $24.14 and a 200-day simple moving average of $25.31.

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

Coterra Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 28th. Investors of record on Thursday, August 14th were issued a dividend of $0.22 per share. The ex-dividend date of this dividend was Thursday, August 14th. This represents a $0.88 dividend on an annualized basis and a yield of 3.6%. Coterra Energy's dividend payout ratio is 42.11%.

Analysts Set New Price Targets

CTRA has been the topic of several research analyst reports. The Goldman Sachs Group reissued a "neutral" rating and issued a $31.00 price objective on shares of Coterra Energy in a research report on Tuesday, July 1st. Piper Sandler boosted their price target on shares of Coterra Energy from $37.00 to $39.00 and gave the stock an "overweight" rating in a report on Thursday, August 14th. Wells Fargo & Company raised their price objective on shares of Coterra Energy from $32.00 to $33.00 and gave the stock an "overweight" rating in a report on Thursday, August 14th. Scotiabank reaffirmed an "outperform" rating on shares of Coterra Energy in a research report on Friday, July 11th. Finally, Pickering Energy Partners downgraded shares of Coterra Energy from an "outperform" rating to a "neutral" rating in a research report on Tuesday, May 20th. Fourteen equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $33.39.

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.