Vanguard Group Inc. Increases Stock Position in Coterra Energy Inc. (NYSE:CTRA)

Key Points

• Vanguard Group Inc. increased its stake in Coterra Energy Inc. by 4.3%, owning over 92 million shares valued at approximately $2.67 billion by the end of the most recent quarter.
• Coterra Energy reported a net margin of 23.80% and a 54.6% revenue increase year-over-year in its latest earnings report, despite missing the consensus EPS estimate.
• The company announced a quarterly dividend of $0.22 per share, yielding 3.7%, with a payout ratio of 42.11%.

Vanguard Group Inc. lifted its holdings in shares of Coterra Energy Inc. (NYSE:CTRA - Free Report) by 4.3% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 92,337,673 shares of the company's stock after buying an additional 3,818,700 shares during the quarter. Vanguard Group Inc. owned about 12.08% of Coterra Energy worth $2,668,559,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the business. Victory Capital Management Inc. lifted its stake in shares of Coterra Energy by 5.7% during the 1st quarter. Victory Capital Management Inc. now owns 18,828,688 shares of the company's stock valued at $544,149,000 after buying an additional 1,019,995 shares in the last quarter. Northern Trust Corp lifted its stake in shares of Coterra Energy by 7.0% during the 4th quarter. Northern Trust Corp now owns 8,777,764 shares of the company's stock valued at $224,184,000 after buying an additional 571,193 shares in the last quarter. Deutsche Bank AG lifted its stake in shares of Coterra Energy by 13.7% during the 4th quarter. Deutsche Bank AG now owns 6,075,429 shares of the company's stock valued at $155,166,000 after buying an additional 732,928 shares in the last quarter. Bank of New York Mellon Corp lifted its stake in shares of Coterra Energy by 6.8% during the 1st quarter. Bank of New York Mellon Corp now owns 5,281,168 shares of the company's stock valued at $152,626,000 after buying an additional 337,902 shares in the last quarter. Finally, Man Group plc lifted its stake in shares of Coterra Energy by 81.4% during the 4th quarter. Man Group plc now owns 4,842,621 shares of the company's stock valued at $123,681,000 after buying an additional 2,172,931 shares in the last quarter. 87.92% of the stock is currently owned by hedge funds and other institutional investors.

Coterra Energy Price Performance

CTRA stock opened at $24.01 on Friday. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.86 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. The firm's fifty day moving average is $25.08 and its 200 day moving average is $26.02. The firm has a market cap of $18.32 billion, a P/E ratio of 11.49, a P/E/G ratio of 0.32 and a beta of 0.33.

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 the consensus estimate of $0.50 by ($0.02). Coterra Energy had a net margin of 23.80% and a return on equity of 10.99%. The business had revenue of $1.97 billion for the quarter, compared to the consensus estimate of $1.78 billion. During the same period in the prior year, the business posted $0.37 EPS. Coterra Energy's revenue for the quarter was up 54.6% on a year-over-year basis. Research analysts predict that Coterra Energy Inc. will post 1.54 earnings per share for the current year.

Coterra Energy Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, August 28th. Investors of record on Thursday, August 14th will be issued a dividend of $0.22 per share. The ex-dividend date of this dividend is Thursday, August 14th. This represents a $0.88 annualized dividend and a dividend yield of 3.7%. Coterra Energy's dividend payout ratio (DPR) is currently 42.11%.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. UBS Group decreased their target price on shares of Coterra Energy from $32.00 to $30.00 and set a "buy" rating on the stock in a report on Friday, May 9th. The Goldman Sachs Group reaffirmed a "neutral" rating and set a $31.00 target price on shares of Coterra Energy in a report on Tuesday, July 1st. Raymond James Financial set a $38.00 target price on shares of Coterra Energy and gave the stock an "outperform" rating in a report on Friday, June 13th. Susquehanna decreased their target price on shares of Coterra Energy from $34.00 to $32.00 and set a "positive" rating on the stock in a report on Tuesday, April 22nd. Finally, Mizuho decreased their target price on shares of Coterra Energy from $38.00 to $36.00 and set an "outperform" rating on the stock in a report on Tuesday, May 13th. Four equities research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $33.16.

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.

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