Coterra Energy Inc. $CTRA Shares Purchased by Jacobs Levy Equity Management Inc.

Key Points

• Jacobs Levy Equity Management Inc. increased its stake in Coterra Energy by 7.3% by acquiring an additional 56,124 shares, bringing its total holdings to 824,457 shares valued at approximately $23.8 million.
• Coterra Energy reported a quarterly EPS of $0.48, slightly missing expectations, despite a revenue increase of 54.6% year-over-year, totaling $1.97 billion.
• The company announced a quarterly dividend of $0.22 per share, translating to an annualized dividend yield of 3.7% with a payout ratio of 42.11%.

Jacobs Levy Equity Management Inc. grew its holdings in shares of Coterra Energy Inc. (NYSE:CTRA - Free Report) by 7.3% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm owned 824,457 shares of the company's stock after buying an additional 56,124 shares during the period. Jacobs Levy Equity Management Inc. owned 0.11% of Coterra Energy worth $23,827,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in CTRA. Mercer Global Advisors Inc. ADV increased its stake in shares of Coterra Energy by 3.3% during the fourth quarter. Mercer Global Advisors Inc. ADV now owns 33,489 shares of the company's stock valued at $855,000 after buying an additional 1,061 shares during the period. AXA S.A. boosted its position in shares of Coterra Energy by 306.0% during the fourth quarter. AXA S.A. now owns 106,183 shares of the company's stock valued at $2,712,000 after purchasing an additional 80,030 shares in the last quarter. Algert Global LLC bought a new stake in shares of Coterra Energy during the fourth quarter valued at approximately $374,000. Ameriprise Financial Inc. boosted its position in shares of Coterra Energy by 19.3% during the fourth quarter. Ameriprise Financial Inc. now owns 1,340,525 shares of the company's stock valued at $34,237,000 after purchasing an additional 216,865 shares in the last quarter. Finally, Cary Street Partners Financial LLC bought a new stake in shares of Coterra Energy during the fourth quarter valued at approximately $115,000. 87.92% of the stock is owned by hedge funds and other institutional investors.

Coterra Energy Price Performance

Shares of Coterra Energy stock traded down $0.03 during trading hours on Thursday, reaching $24.34. 1,469,093 shares of the company's stock were exchanged, compared to its average volume of 6,900,049. The company has a quick ratio of 1.08, a current ratio of 1.13 and a debt-to-equity ratio of 0.29. Coterra Energy Inc. has a 1 year low of $22.41 and a 1 year high of $29.95. The business has a fifty day moving average of $24.17 and a two-hundred day moving average of $25.36. The company has a market capitalization of $18.58 billion, a P/E ratio of 11.65, a price-to-earnings-growth ratio of 0.32 and a beta of 0.34.

Coterra Energy (NYSE:CTRA - Get Free Report) last announced its quarterly earnings data 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). Coterra Energy had a net margin of 23.80% and a return on equity of 10.99%. The firm had revenue of $1.97 billion during the quarter, compared to analysts' expectations of $1.78 billion. During the same period in the prior year, the company posted $0.37 EPS. The company's revenue for the quarter was up 54.6% compared to the same quarter last year. As a group, research analysts predict that Coterra Energy Inc. will post 1.54 earnings per share for the current fiscal year.

Coterra Energy Announces Dividend

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

Analysts Set New Price Targets

Several equities research analysts recently weighed in on CTRA shares. Raymond James Financial restated an "outperform" rating and set a $34.00 price target (down from $38.00) on shares of Coterra Energy in a research report on Thursday. Scotiabank restated an "outperform" rating on shares of Coterra Energy in a research report on Friday, July 11th. Barclays lifted their price target on Coterra Energy from $35.00 to $37.00 and gave the company an "overweight" rating in a research report on Monday, July 7th. Wells Fargo & Company lifted their target price 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. Finally, Pickering Energy Partners lowered 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 company. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price 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.