Coterra Energy Inc. (NYSE:CTRA) Shares Bought by Penserra Capital Management LLC

Penserra Capital Management LLC raised its holdings in Coterra Energy Inc. (NYSE:CTRA - Free Report) by 711.9% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 15,645 shares of the company's stock after acquiring an additional 13,718 shares during the period. Penserra Capital Management LLC's holdings in Coterra Energy were worth $451,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Proficio Capital Partners LLC bought a new stake in Coterra Energy during the fourth quarter worth $3,624,000. Larson Financial Group LLC lifted its holdings in Coterra Energy by 247.7% during the 4th quarter. Larson Financial Group LLC now owns 3,345 shares of the company's stock worth $85,000 after purchasing an additional 2,383 shares in the last quarter. Daiwa Securities Group Inc. raised its holdings in shares of Coterra Energy by 39.0% in the 4th quarter. Daiwa Securities Group Inc. now owns 125,636 shares of the company's stock valued at $3,209,000 after acquiring an additional 35,259 shares in the last quarter. Wealthfront Advisers LLC increased its position in shares of Coterra Energy by 27.8% during the 4th quarter. Wealthfront Advisers LLC now owns 285,674 shares of the company's stock valued at $7,296,000 after purchasing an additional 62,110 shares during the last quarter. Finally, Sequoia Financial Advisors LLC grew its position in Coterra Energy by 12.4% during the 4th quarter. Sequoia Financial Advisors LLC now owns 32,513 shares of the company's stock worth $830,000 after acquiring an additional 3,599 shares during the last quarter. 87.92% of the stock is currently owned by institutional investors.

Coterra Energy Price Performance

Shares of NYSE:CTRA traded up $0.18 during trading on Monday, reaching $25.46. 4,884,013 shares of the company's stock traded hands, compared to its average volume of 6,547,946. The company has a quick ratio of 0.86, a current ratio of 0.90 and a debt-to-equity ratio of 0.30. 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 $19.43 billion, a PE ratio of 14.80, a P/E/G ratio of 0.35 and a beta of 0.35. The company has a 50-day simple moving average of $25.18 and a 200-day simple moving average of $26.47.

Coterra Energy (NYSE:CTRA - Get Free Report) last released its earnings results on Monday, May 5th. The company reported $0.80 earnings per share for the quarter, topping analysts' consensus estimates of $0.71 by $0.09. The business had revenue of $924.00 million for the quarter, compared to analyst estimates of $1.92 billion. Coterra Energy had a net margin of 21.67% and a return on equity of 10.61%. The business's revenue was up 32.9% on a year-over-year basis. During the same period last year, the company posted $0.51 EPS. As a group, analysts predict that Coterra Energy Inc. will post 1.54 earnings per share for the current year.

Coterra Energy Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, May 29th. Stockholders of record on Thursday, May 15th were given a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a dividend yield of 3.46%. The ex-dividend date was Thursday, May 15th. Coterra Energy's payout ratio is presently 51.16%.

Analyst Ratings Changes

A number of brokerages have recently weighed in on CTRA. Barclays lifted their price objective on Coterra Energy from $35.00 to $37.00 and gave the stock an "overweight" rating in a research report on Monday, July 7th. Pickering Energy Partners cut Coterra Energy from an "outperform" rating to a "neutral" rating in a research note on Tuesday, May 20th. Scotiabank lifted their price objective on Coterra Energy from $33.00 to $35.00 and gave the stock a "sector outperform" rating in a report on Friday. Bank of America dropped their price objective 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. Finally, Wells Fargo & Company decreased their target price on Coterra Energy from $33.00 to $31.00 and set an "overweight" rating on the stock in a research report on Monday, June 16th. Four analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $33.20.

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.