Fuller & Thaler Asset Management Inc. Acquires 81,432 Shares of Coterra Energy Inc. $CTRA

Key Points

• Fuller & Thaler Asset Management Inc. increased its stake in Coterra Energy by 42.5% during the first quarter, now holding 272,900 shares valued at approximately $7.9 million.
• The company reported $1.97 billion in revenue for the last quarter, surpassing analysts' expectations of $1.78 billion, and its earnings per share (EPS) was $0.48, slightly missing the forecast.
• Coterra Energy has a strong institutional ownership with 87.92% of its stock held by hedge funds and institutional investors.

Fuller & Thaler Asset Management Inc. increased its stake in Coterra Energy Inc. (NYSE:CTRA - Free Report) by 42.5% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 272,900 shares of the company's stock after purchasing an additional 81,432 shares during the quarter. Fuller & Thaler Asset Management Inc.'s holdings in Coterra Energy were worth $7,887,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Wellington Management Group LLP boosted its stake in shares of Coterra Energy by 15.3% during the 1st quarter. Wellington Management Group LLP now owns 83,631,117 shares of the company's stock worth $2,416,939,000 after acquiring an additional 11,102,350 shares during the last quarter. Qtron Investments LLC bought a new stake in shares of Coterra Energy during the 1st quarter valued at $358,000. Versor Investments LP grew its position in shares of Coterra Energy by 11.3% during the 1st quarter. Versor Investments LP now owns 22,600 shares of the company's stock valued at $653,000 after acquiring an additional 2,300 shares during the period. Thompson Davis & CO. Inc. bought a new stake in shares of Coterra Energy during the 1st quarter valued at $213,000. Finally, Oak Grove Capital LLC grew its position in shares of Coterra Energy by 1.2% during the 1st quarter. Oak Grove Capital LLC now owns 75,200 shares of the company's stock valued at $2,173,000 after acquiring an additional 900 shares during the period. Hedge funds and other institutional investors own 87.92% of the company's stock.

Coterra Energy Price Performance

NYSE CTRA traded up $0.3350 on Friday, reaching $23.7750. The company had a trading volume of 4,496,978 shares, compared to its average volume of 6,616,784. The company has a quick ratio of 1.08, a current ratio of 1.13 and a debt-to-equity ratio of 0.29. The stock has a market capitalization of $18.14 billion, a PE ratio of 11.38, a price-to-earnings-growth ratio of 0.32 and a beta of 0.33. The firm's 50 day moving average price is $24.69 and its 200 day moving average price is $25.68. Coterra Energy Inc. has a 12 month low of $22.30 and a 12 month high of $29.95.

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

Coterra Energy Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, August 28th. Shareholders of record on Thursday, August 14th will be issued a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a yield of 3.7%. The ex-dividend date is Thursday, August 14th. Coterra Energy's payout ratio is currently 42.11%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the stock. UBS Group cut their price objective on shares of Coterra Energy from $32.00 to $30.00 and set a "buy" rating for the company in a research report on Friday, May 9th. Pickering Energy Partners downgraded shares of Coterra Energy from an "outperform" rating to a "neutral" rating in a research report on Tuesday, May 20th. Wells Fargo & Company boosted their price objective on shares of Coterra Energy from $32.00 to $33.00 and gave the company an "overweight" rating in a research report on Thursday, August 14th. Scotiabank reissued an "outperform" rating on shares of Coterra Energy in a research report on Friday, July 11th. Finally, Piper Sandler boosted their price objective on shares of Coterra Energy from $37.00 to $39.00 and gave the company an "overweight" rating in a research report on Thursday, August 14th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat, Coterra Energy presently has a consensus rating of "Moderate Buy" and a consensus target price of $33.37.

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.