Voya Investment Management LLC Grows Position in Coterra Energy Inc. $CTRA

Key Points

• Voya Investment Management LLC increased its holdings in Coterra Energy by 75.7%, owning approximately 1.35 million shares worth around $39 million as of its recent SEC filing.
• Coterra Energy reported earnings per share of $0.48, which was lower than analysts' expectations of $0.50, while its revenue was significantly above expectations at $1.97 billion.
• The company declared a quarterly dividend of $0.22, yielding approximately 3.6%, with a dividend payout ratio of 42.11%.

Voya Investment Management LLC increased its position in shares of Coterra Energy Inc. (NYSE:CTRA - Free Report) by 75.7% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 1,349,693 shares of the company's stock after buying an additional 581,612 shares during the period. Voya Investment Management LLC owned about 0.18% of Coterra Energy worth $39,006,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Janus Henderson Group PLC lifted its stake in Coterra Energy by 2.3% during the fourth quarter. Janus Henderson Group PLC now owns 75,678 shares of the company's stock worth $1,933,000 after purchasing an additional 1,688 shares during the last quarter. OMERS ADMINISTRATION Corp lifted its stake in Coterra Energy by 20.2% during the fourth quarter. OMERS ADMINISTRATION Corp now owns 31,591 shares of the company's stock worth $807,000 after purchasing an additional 5,302 shares during the last quarter. Mufg Securities Americas Inc. purchased a new stake in Coterra Energy during the fourth quarter worth approximately $278,000. Quantinno Capital Management LP lifted its stake in Coterra Energy by 54.6% during the fourth quarter. Quantinno Capital Management LP now owns 114,538 shares of the company's stock worth $2,925,000 after purchasing an additional 40,442 shares during the last quarter. Finally, ProShare Advisors LLC lifted its stake in Coterra Energy by 4.8% during the fourth quarter. ProShare Advisors LLC now owns 154,031 shares of the company's stock worth $3,934,000 after purchasing an additional 6,997 shares during the last quarter. 87.92% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on CTRA shares. Wells Fargo & Company boosted 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. The Goldman Sachs Group restated a "neutral" rating and set a $31.00 target price on shares of Coterra Energy in a research note on Tuesday, July 1st. Piper Sandler boosted their price objective on Coterra Energy from $37.00 to $39.00 and gave the company an "overweight" rating in a research note on Thursday, August 14th. Raymond James Financial reiterated an "outperform" rating and issued a $34.00 price objective (down previously from $38.00) on shares of Coterra Energy in a research note on Thursday, September 11th. Finally, Barclays boosted their price objective on Coterra Energy from $35.00 to $37.00 and gave the company an "overweight" rating in a research note on Monday, July 7th. Fourteen investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $33.22.

Coterra Energy Stock Performance

Shares of NYSE:CTRA traded down $0.05 during trading on Thursday, reaching $24.33. The company had a trading volume of 1,896,573 shares, compared to its average volume of 6,855,307. The firm has a market capitalization of $18.57 billion, a price-to-earnings ratio of 11.65, a price-to-earnings-growth ratio of 0.35 and a beta of 0.34. 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 stock's fifty day moving average price is $24.10 and its 200 day moving average price is $25.27. Coterra Energy Inc. has a fifty-two week low of $22.46 and a fifty-two 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 earnings per share (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 analyst estimates of $1.78 billion. Coterra Energy had a net margin of 23.80% and a return on equity of 10.99%. The company's revenue for the quarter was up 54.6% on a year-over-year basis. During the same period in the previous year, the firm posted $0.37 EPS. As a group, equities research analysts predict that Coterra Energy Inc. will post 1.54 EPS for the current year.

Coterra Energy Announces Dividend

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

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.