150,257 Shares in Coterra Energy Inc. (NYSE:CTRA) Acquired by DnB Asset Management AS

DnB Asset Management AS acquired a new position in Coterra Energy Inc. (NYSE:CTRAGet Rating) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 150,257 shares of the company’s stock, valued at approximately $3,875,000.

Several other institutional investors have also recently bought and sold shares of the stock. Vanguard Group Inc. bought a new stake in shares of Coterra Energy during the 1st quarter valued at $2,472,575,000. Capital World Investors bought a new stake in shares of Coterra Energy during the 1st quarter valued at $2,268,599,000. BlackRock Inc. bought a new stake in shares of Coterra Energy during the 1st quarter valued at $1,802,238,000. State Street Corp bought a new stake in shares of Coterra Energy during the 1st quarter valued at $1,493,855,000. Finally, Wellington Management Group LLP bought a new stake in shares of Coterra Energy during the 1st quarter valued at $1,000,797,000. Institutional investors own 93.39% of the company’s stock.

Analyst Upgrades and Downgrades

CTRA has been the subject of several recent research reports. Morgan Stanley dropped their target price on shares of Coterra Energy from $30.00 to $29.00 and set an “equal weight” rating for the company in a research report on Tuesday, July 19th. Credit Suisse Group upped their price objective on shares of Coterra Energy from $30.00 to $35.00 and gave the company a “neutral” rating in a research report on Monday, June 13th. Piper Sandler lowered their price objective on shares of Coterra Energy from $34.00 to $33.00 and set a “neutral” rating for the company in a research report on Friday, July 22nd. MKM Partners restated a “neutral” rating and issued a $26.00 price objective on shares of Coterra Energy in a research report on Wednesday, July 20th. Finally, Mizuho upped their price objective on shares of Coterra Energy from $40.00 to $43.00 and gave the company a “buy” rating in a research report on Thursday, August 18th. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, Coterra Energy currently has an average rating of “Hold” and an average price target of $33.67.

Coterra Energy Stock Up 0.7 %

Coterra Energy stock opened at $28.94 on Tuesday. The stock has a market cap of $23.02 billion, a P/E ratio of 8.04, a P/E/G ratio of 0.11 and a beta of 0.06. The company has a quick ratio of 1.77, a current ratio of 1.80 and a debt-to-equity ratio of 0.24. Coterra Energy Inc. has a twelve month low of $18.39 and a twelve month high of $36.55. The company’s 50-day moving average price is $29.30 and its two-hundred day moving average price is $29.13.

Coterra Energy (NYSE:CTRAGet Rating) last released its quarterly earnings results on Tuesday, August 2nd. The company reported $1.32 earnings per share for the quarter, beating the consensus estimate of $1.18 by $0.14. The firm had revenue of $2.57 billion for the quarter, compared to analysts’ expectations of $2.25 billion. Coterra Energy had a net margin of 41.04% and a return on equity of 28.44%. During the same period in the prior year, the firm earned $0.25 EPS. As a group, analysts expect that Coterra Energy Inc. will post 4.97 EPS for the current year.

Coterra Energy Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 25th. Stockholders of record on Monday, August 15th were issued a dividend of $0.15 per share. The ex-dividend date of this dividend was Friday, August 12th. This represents a $0.60 annualized dividend and a dividend yield of 2.07%. Coterra Energy’s dividend payout ratio is presently 16.67%.

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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