QRG Capital Management Inc. Grows Position in Coterra Energy Inc. (NYSE:CTRA)

QRG Capital Management Inc. increased its holdings in Coterra Energy Inc. (NYSE:CTRA - Free Report) by 25.6% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 83,500 shares of the company's stock after acquiring an additional 17,045 shares during the quarter. QRG Capital Management Inc.'s holdings in Coterra Energy were worth $2,413,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Investors Research Corp lifted its stake in Coterra Energy by 45.2% in the first quarter. Investors Research Corp now owns 1,311 shares of the company's stock worth $38,000 after acquiring an additional 408 shares during the period. Plato Investment Management Ltd purchased a new stake in Coterra Energy in the fourth quarter worth about $43,000. Deseret Mutual Benefit Administrators lifted its stake in Coterra Energy by 33.2% in the fourth quarter. Deseret Mutual Benefit Administrators now owns 1,722 shares of the company's stock worth $44,000 after acquiring an additional 429 shares during the period. VSM Wealth Advisory LLC purchased a new stake in Coterra Energy in the fourth quarter worth about $46,000. Finally, Nemes Rush Group LLC purchased a new stake in Coterra Energy in the fourth quarter worth about $48,000. 87.92% of the stock is owned by hedge funds and other institutional investors.

Coterra Energy Stock Performance

NYSE CTRA traded up $0.23 during trading hours on Friday, reaching $26.98. The stock had a trading volume of 21,178,796 shares, compared to its average volume of 6,451,808. The stock has a fifty day moving average of $25.13 and a 200 day moving average of $26.37. The stock has a market cap of $20.60 billion, a P/E ratio of 15.69, a price-to-earnings-growth ratio of 0.37 and a beta of 0.34. Coterra Energy Inc. has a 52-week low of $22.30 and a 52-week high of $29.95. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.86 and a current ratio of 0.90.

Coterra Energy (NYSE:CTRA - Get Free Report) last issued its earnings results on Monday, May 5th. The company reported $0.80 EPS for the quarter, beating analysts' consensus estimates of $0.71 by $0.09. The firm had revenue of $924.00 million for the quarter, compared to analyst estimates of $1.92 billion. Coterra Energy had a return on equity of 10.61% and a net margin of 21.67%. Coterra Energy's revenue for the quarter was up 32.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.51 earnings per share. Sell-side 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 announced a quarterly dividend, which was paid on Thursday, May 29th. Investors of record on Thursday, May 15th were given a $0.22 dividend. The ex-dividend date was Thursday, May 15th. This represents a $0.88 dividend on an annualized basis and a yield of 3.26%. Coterra Energy's dividend payout ratio is currently 51.16%.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on CTRA. Bank of America lowered their price objective on shares of Coterra Energy from $34.00 to $33.00 and set a "buy" rating for the company in a research note on Tuesday, April 29th. Wells Fargo & Company reduced their target price on shares of Coterra Energy from $33.00 to $31.00 and set an "overweight" rating for the company in a report on Monday, June 16th. Williams Trading set a $37.00 target price on shares of Coterra Energy in a report on Wednesday, March 5th. Barclays reduced their target price on shares of Coterra Energy from $37.00 to $35.00 and set an "overweight" rating for the company in a report on Tuesday, May 6th. Finally, Morgan Stanley set a $28.00 target price on shares of Coterra Energy in a report on Tuesday, April 15th. Four investment analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Coterra Energy presently has an average rating of "Moderate Buy" and a consensus target price of $33.30.

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.