Qtron Investments LLC Makes New Investment in Coterra Energy Inc. $CTRA

Key Points

• Qtron Investments LLC has acquired 12,391 shares of Coterra Energy Inc., representing a new stake valued at approximately $358,000.
• Following their first quarter activities, Vanguard Group Inc. and Charles Schwab Investment Management Inc. also increased their holdings in Coterra Energy by 4.3% and 7.8%, respectively.
• Coterra Energy announced a quarterly dividend of $0.22 per share, with a yield of 3.8%, payable to stockholders of record on August 14th.

Qtron Investments LLC bought a new position in shares of Coterra Energy Inc. (NYSE:CTRA - Free Report) in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 12,391 shares of the company's stock, valued at approximately $358,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its position in Coterra Energy by 4.3% during the first quarter. Vanguard Group Inc. now owns 92,337,673 shares of the company's stock worth $2,668,559,000 after purchasing an additional 3,818,700 shares during the period. Charles Schwab Investment Management Inc. lifted its position in shares of Coterra Energy by 7.8% during the first quarter. Charles Schwab Investment Management Inc. now owns 25,304,940 shares of the company's stock worth $731,313,000 after acquiring an additional 1,837,614 shares in the last quarter. Victory Capital Management Inc. boosted its holdings in shares of Coterra Energy by 5.7% in the first quarter. Victory Capital Management Inc. now owns 18,828,688 shares of the company's stock worth $544,149,000 after acquiring an additional 1,019,995 shares during the period. Invesco Ltd. grew its position in shares of Coterra Energy by 1.2% in the first quarter. Invesco Ltd. now owns 12,384,728 shares of the company's stock valued at $357,919,000 after purchasing an additional 152,244 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its stake in shares of Coterra Energy by 0.9% during the 1st quarter. Dimensional Fund Advisors LP now owns 10,448,823 shares of the company's stock valued at $301,940,000 after purchasing an additional 90,103 shares during the period. Institutional investors own 87.92% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have commented on the company. Wells Fargo & Company raised their target price on Coterra Energy from $32.00 to $33.00 and gave the stock an "overweight" rating in a research note on Thursday, August 14th. Piper Sandler raised 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. Pickering Energy Partners cut shares of Coterra Energy from an "outperform" rating to a "neutral" rating in a research note on Tuesday, May 20th. Barclays upped their target price on shares of Coterra Energy from $35.00 to $37.00 and gave the stock an "overweight" rating in a report on Monday, July 7th. Finally, UBS Group cut their price target on shares of Coterra Energy from $32.00 to $30.00 and set a "buy" rating for the company in a report on Friday, May 9th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $33.37.

Coterra Energy Price Performance

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 7,055,387. The business has a 50 day simple moving average of $24.75 and a 200 day simple moving average of $25.73. The company has a market cap of $18.14 billion, a price-to-earnings ratio of 11.38, a P/E/G ratio of 0.31 and a beta of 0.33. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.08 and a current ratio of 1.13. Coterra Energy Inc. has a 52-week low of $22.30 and a 52-week high of $29.95.

Coterra Energy (NYSE:CTRA - Get Free Report) last released its earnings results on Monday, August 4th. The company reported $0.48 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 the consensus estimate of $1.78 billion. During the same period in the prior year, the company earned $0.37 EPS. The firm's revenue was up 54.6% compared to the same quarter last year. As a group, sell-side analysts anticipate that Coterra Energy Inc. will post 1.54 EPS for the current year.

Coterra Energy Dividend Announcement

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

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.