Mackay Shields LLC Purchases Shares of 118,064 Coterra Energy Inc. (NYSE:CTRA)

Mackay Shields LLC purchased a new stake in shares of Coterra Energy Inc. (NYSE:CTRAGet Rating) during the first quarter, Holdings Channel.com reports. The firm purchased 118,064 shares of the company’s stock, valued at approximately $3,184,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Capital Analysts LLC purchased a new stake in shares of Coterra Energy during the first quarter valued at approximately $27,000. Larson Financial Group LLC purchased a new stake in shares of Coterra Energy during the first quarter valued at approximately $28,000. BerganKDV Wealth Management LLC purchased a new stake in Coterra Energy in the first quarter worth $29,000. Eagle Bay Advisors LLC purchased a new stake in Coterra Energy in the first quarter worth $29,000. Finally, Joseph P. Lucia & Associates LLC purchased a new position in Coterra Energy during the first quarter valued at $32,000. 93.39% of the stock is currently owned by institutional investors.

Coterra Energy Trading Up 0.1 %

Shares of NYSE:CTRA opened at $29.12 on Friday. The stock has a market capitalization of $23.17 billion, a price-to-earnings ratio of 8.09, a PEG ratio of 0.11 and a beta of 0.06. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.77 and a current ratio of 1.80. The stock’s 50-day simple moving average is $28.73 and its two-hundred day simple moving average is $28.76. Coterra Energy Inc. has a 52-week low of $18.14 and a 52-week high of $36.55.

Coterra Energy (NYSE:CTRAGet Rating) last announced its earnings results on Tuesday, August 2nd. The company reported $1.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.18 by $0.14. The business had revenue of $2.57 billion for the quarter, compared to analysts’ expectations of $2.25 billion. Coterra Energy had a return on equity of 28.44% and a net margin of 41.04%. During the same period last year, the firm posted $0.25 earnings per share. Analysts expect that Coterra Energy Inc. will post 4.91 EPS for the current year.

Coterra Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 25th. Stockholders of record on Monday, August 15th were given a dividend of $0.15 per share. The ex-dividend date of this dividend was Friday, August 12th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 2.06%. Coterra Energy’s payout ratio is currently 16.67%.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the company. Citigroup lowered Coterra Energy from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $40.00 to $27.00 in a research report on Friday, June 24th. Wells Fargo & Company raised their price target on Coterra Energy from $42.00 to $46.00 and gave the company an “overweight” rating in a report on Monday, July 11th. Piper Sandler reduced their price target on Coterra Energy from $34.00 to $33.00 and set a “neutral” rating for the company in a report on Friday, July 22nd. Credit Suisse Group raised their price target on Coterra Energy from $30.00 to $35.00 and gave the company a “neutral” rating in a report on Monday, June 13th. Finally, Mizuho raised their price target on Coterra Energy from $40.00 to $43.00 and gave the company a “buy” rating in a report on Thursday, August 18th. One analyst has rated the stock with a sell rating, eleven have given a hold rating and six have assigned a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $33.67.

Coterra Energy Profile

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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. It primarily focuses on the Marcellus Shale with approximately 177,000 net acres in the dry gas window of the play located in Susquehanna County, Pennsylvania.

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Institutional Ownership by Quarter for Coterra Energy (NYSE:CTRA)

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