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

Victory Capital Management Inc. lifted its position in Coterra Energy Inc. (NYSE:CTRA - Free Report) by 5.7% during the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 18,828,688 shares of the company's stock after purchasing an additional 1,019,995 shares during the period. Coterra Energy comprises approximately 0.6% of Victory Capital Management Inc.'s portfolio, making the stock its 15th biggest holding. Victory Capital Management Inc. owned about 2.46% of Coterra Energy worth $544,149,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the company. Donald L. Hagan LLC grew its holdings in Coterra Energy by 1.1% in the 1st quarter. Donald L. Hagan LLC now owns 35,754 shares of the company's stock worth $1,033,000 after acquiring an additional 401 shares during the last quarter. Investors Research Corp increased its holdings in Coterra Energy by 45.2% during the 1st quarter. Investors Research Corp now owns 1,311 shares of the company's stock valued at $38,000 after purchasing an additional 408 shares during the period. Saxon Interests Inc. raised its position in Coterra Energy by 5.1% during the 1st quarter. Saxon Interests Inc. now owns 9,319 shares of the company's stock valued at $269,000 after purchasing an additional 451 shares during the last quarter. Tectonic Advisors LLC lifted its holdings in Coterra Energy by 3.2% in the 1st quarter. Tectonic Advisors LLC now owns 14,834 shares of the company's stock worth $429,000 after buying an additional 459 shares during the period. Finally, Procyon Advisors LLC grew its position in shares of Coterra Energy by 3.6% in the 1st quarter. Procyon Advisors LLC now owns 13,460 shares of the company's stock worth $389,000 after buying an additional 469 shares during the last quarter. 87.92% of the stock is owned by hedge funds and other institutional investors.

Coterra Energy Stock Up 0.9%

Shares of CTRA traded up $0.22 during trading hours on Thursday, hitting $24.41. The company had a trading volume of 3,063,486 shares, compared to its average volume of 6,547,185. The stock has a market capitalization of $18.63 billion, a price-to-earnings ratio of 14.19, a P/E/G ratio of 0.34 and a beta of 0.35. The firm has a fifty day moving average price of $25.25 and a 200-day moving average price of $26.44. 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 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.71 by $0.09. The business had revenue of $924.00 million during the quarter, compared to analysts' expectations 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 for the quarter was up 32.9% compared to the same quarter last year. During the same period in the previous year, the company earned $0.51 earnings per share. On average, equities research analysts forecast that Coterra Energy Inc. will post 1.54 EPS for the current fiscal year.

Coterra Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 29th. Investors of record on Thursday, May 15th were issued 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 3.61%. Coterra Energy's payout ratio is currently 51.16%.

Wall Street Analyst Weigh In

A number of analysts recently commented on CTRA shares. Mizuho dropped their price target on Coterra Energy from $38.00 to $36.00 and set an "outperform" rating for the company in a research note on Tuesday, May 13th. Piper Sandler reaffirmed an "overweight" rating and issued a $37.00 target price (up from $36.00) on shares of Coterra Energy in a research report on Thursday. Wells Fargo & Company reduced their price target on shares of Coterra Energy from $33.00 to $31.00 and set an "overweight" rating on the stock in a research report on Monday, June 16th. Morgan Stanley set a $28.00 price objective on shares of Coterra Energy in a report on Tuesday, April 15th. Finally, Pickering Energy Partners downgraded Coterra Energy from an "outperform" rating to a "neutral" rating in a report on Tuesday, May 20th. Four analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, Coterra Energy currently has an average rating of "Moderate Buy" and an average target price of $33.25.

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.