Quantitative Investment Management LLC Acquires New Holdings in Coterra Energy Inc. $CTRA

Key Points

• Quantitative Investment Management LLC acquired a stake in Coterra Energy Inc., purchasing 32,793 shares valued at approximately $947,000 during the first quarter.
• Multiple institutional investors have significantly increased their holdings in Coterra Energy, with 87.92% of the stock currently owned by hedge funds and other institutional investors.
• Coterra Energy announced a quarterly dividend of $0.22 per share, representing an annualized dividend yield of 3.7%.

Quantitative Investment Management LLC purchased a new stake in Coterra Energy Inc. (NYSE:CTRA - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 32,793 shares of the company's stock, valued at approximately $947,000.

Several other hedge funds also recently modified their holdings of CTRA. Cornerstone Planning Group LLC boosted its holdings in shares of Coterra Energy by 175.6% in the 1st quarter. Cornerstone Planning Group LLC now owns 871 shares of the company's stock worth $25,000 after acquiring an additional 555 shares in the last quarter. Raleigh Capital Management Inc. raised its position in Coterra Energy by 463.5% in 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. Banque Cantonale Vaudoise acquired a new position in Coterra Energy in the first quarter worth $29,000. Wayfinding Financial LLC acquired a new position in Coterra Energy in the first quarter worth $34,000. Finally, Investors Research Corp grew its holdings in shares of Coterra Energy by 45.2% during the first quarter. Investors Research Corp now owns 1,311 shares of the company's stock worth $38,000 after purchasing an additional 408 shares during the last quarter. Institutional investors and hedge funds own 87.92% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on CTRA. Raymond James Financial set a $38.00 price target on Coterra Energy and gave the company an "outperform" rating in a report on Friday, June 13th. Scotiabank restated an "outperform" rating on shares of Coterra Energy in a research report on Friday, July 11th. Wells Fargo & Company boosted their target price on shares of 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 increased their price target on shares of Coterra Energy from $37.00 to $39.00 and gave the company an "overweight" rating in a research note on Thursday, August 14th. Finally, Barclays raised their price target on shares of Coterra Energy from $35.00 to $37.00 and gave the company an "overweight" rating in a report on Monday, July 7th. Fourteen equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $33.61.

Coterra Energy Trading Up 1.0%

Shares of Coterra Energy stock traded up $0.24 during trading on Thursday, hitting $24.38. 5,083,545 shares of the company were exchanged, compared to its average volume of 7,029,354. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.13 and a quick ratio of 1.08. The firm has a market capitalization of $18.60 billion, a P/E ratio of 11.66, a price-to-earnings-growth ratio of 0.32 and a beta of 0.33. The firm's fifty day moving average price is $24.53 and its 200 day moving average price is $25.62. Coterra Energy Inc. has a 1-year low of $22.30 and a 1-year high of $29.95.

Coterra Energy (NYSE:CTRA - Get Free Report) last announced its quarterly 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). The company had revenue of $1.97 billion during 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 business's revenue was up 54.6% compared to the same quarter last year. During the same period last year, the company earned $0.37 earnings per share. As a group, sell-side analysts expect that Coterra Energy Inc. will post 1.54 earnings per share for the current fiscal year.

Coterra Energy Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, August 28th. Stockholders of record on Thursday, August 14th will be paid a $0.22 dividend. The ex-dividend date of this dividend is Thursday, August 14th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 3.6%. Coterra Energy's dividend payout ratio is 42.11%.

About Coterra Energy

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.