Nordea Investment Management AB Boosts Stake in Coterra Energy Inc. $CTRA

Key Points

• Nordea Investment Management AB increased its stake in Coterra Energy by 43.2% in the 2nd quarter, owning 57,542 shares worth approximately $1.47 million.
• Analysts have adjusted their price targets for Coterra Energy, with Piper Sandler lowering it from $39.00 to $38.00, while JPMorgan raised theirs from $33.00 to $35.00.
• Coterra Energy recently announced a quarterly dividend of $0.22 per share, reflecting an annualized payout of $0.88 and a yield of 3.7%.

Nordea Investment Management AB lifted its holdings in shares of Coterra Energy Inc. (NYSE:CTRA - Free Report) by 43.2% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 57,542 shares of the company's stock after purchasing an additional 17,373 shares during the period. Nordea Investment Management AB's holdings in Coterra Energy were worth $1,468,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in CTRA. Cornerstone Planning Group LLC grew its holdings in shares of Coterra Energy by 175.6% during the 1st quarter. Cornerstone Planning Group LLC now owns 871 shares of the company's stock valued at $25,000 after purchasing an additional 555 shares during the last quarter. Raleigh Capital Management Inc. grew its holdings in shares of Coterra Energy by 463.5% during the 1st quarter. Raleigh Capital Management Inc. now owns 896 shares of the company's stock valued at $26,000 after purchasing an additional 737 shares during the last quarter. REAP Financial Group LLC grew its holdings in shares of Coterra Energy by 190.1% during the 2nd quarter. REAP Financial Group LLC now owns 1,108 shares of the company's stock valued at $28,000 after purchasing an additional 726 shares during the last quarter. Banque Cantonale Vaudoise bought a new position in shares of Coterra Energy during the 1st quarter valued at $29,000. Finally, Wayfinding Financial LLC bought a new position in shares of Coterra Energy during the 1st quarter valued at $34,000. Institutional investors own 87.92% of the company's stock.

Analysts Set New Price Targets

Several equities analysts recently commented on the stock. Piper Sandler reduced their target price on shares of Coterra Energy from $39.00 to $38.00 and set an "overweight" rating on the stock in a report on Tuesday. Scotiabank reduced their target price on shares of Coterra Energy from $35.00 to $32.00 and set a "sector outperform" rating on the stock in a report on Thursday, October 9th. The Goldman Sachs Group cut their price target on shares of Coterra Energy from $30.00 to $29.00 and set a "neutral" rating on the stock in a report on Wednesday, October 15th. Siebert Williams Shank cut their price target on shares of Coterra Energy from $35.00 to $32.00 and set a "buy" rating on the stock in a report on Monday, October 13th. Finally, JPMorgan Chase & Co. raised their price target on shares of Coterra Energy from $33.00 to $35.00 and gave the stock an "overweight" rating in a report on Tuesday, October 7th. Sixteen equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $32.60.

Coterra Energy Trading Up 1.9%

Shares of CTRA opened at $23.75 on Friday. The firm's 50-day moving average price is $23.75 and its 200-day moving average price is $24.52. The firm has a market capitalization of $18.12 billion, a price-to-earnings ratio of 11.36, a PEG ratio of 0.36 and a beta of 0.29. The company has a current ratio of 1.13, a quick ratio of 1.08 and a debt-to-equity ratio of 0.29. Coterra Energy Inc. has a 1-year low of $22.33 and a 1-year high of $29.95.

Coterra Energy (NYSE:CTRA - Get Free Report) last announced its 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 company had revenue of $1.97 billion for 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 company's revenue for the quarter was up 54.6% on a year-over-year basis. During the same period in the previous year, the firm posted $0.37 EPS. Sell-side analysts anticipate that Coterra Energy Inc. will post 1.54 EPS for the current year.

Coterra Energy Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, August 28th. Stockholders of record on Thursday, August 14th were paid 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 dividend yield of 3.7%. Coterra Energy's payout ratio is presently 42.11%.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.