Mather Group LLC. Purchases Shares of 20,296 Coterra Energy Inc. (NYSE:CTRA)

Mather Group LLC. purchased a new stake in Coterra Energy Inc. (NYSE:CTRA – Get Rating) during the 3rd quarter, Holdings Channel reports. The firm purchased 20,296 shares of the company’s stock, valued at approximately $530,000.

Several other large investors also recently made changes to their positions in the company. Verity Asset Management Inc. acquired a new stake in shares of Coterra Energy in the third quarter valued at approximately $877,000. Neuberger Berman Group LLC increased its stake in shares of Coterra Energy by 63.3% in the third quarter. Neuberger Berman Group LLC now owns 2,988,964 shares of the company’s stock valued at $78,059,000 after purchasing an additional 1,158,568 shares during the period. State Street Corp increased its stake in shares of Coterra Energy by 0.6% in the third quarter. State Street Corp now owns 53,420,921 shares of the company’s stock valued at $1,395,354,000 after purchasing an additional 312,710 shares during the period. Verdence Capital Advisors LLC increased its stake in shares of Coterra Energy by 5.4% in the third quarter. Verdence Capital Advisors LLC now owns 55,800 shares of the company’s stock valued at $1,458,000 after purchasing an additional 2,882 shares during the period. Finally, Public Employees Retirement System of Ohio increased its stake in shares of Coterra Energy by 11.9% in the third quarter. Public Employees Retirement System of Ohio now owns 443,097 shares of the company’s stock valued at $11,574,000 after purchasing an additional 47,245 shares during the period. Institutional investors and hedge funds own 94.72% of the company’s stock.

Coterra Energy Trading Up 1.7 %

Coterra Energy stock opened at $24.89 on Wednesday. The company has a 50 day moving average price of $24.83 and a 200 day moving average price of $26.78. Coterra Energy Inc. has a 52 week low of $21.98 and a 52 week high of $36.55. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.80 and a current ratio of 1.85. The firm has a market capitalization of $19.12 billion, a price-to-earnings ratio of 4.87, a P/E/G ratio of 0.16 and a beta of 0.25.

Coterra Energy (NYSE:CTRA – Get Rating) last posted its quarterly earnings data on Wednesday, February 22nd. The company reported $1.14 EPS for the quarter, topping analysts’ consensus estimates of $1.10 by $0.04. Coterra Energy had a net margin of 44.91% and a return on equity of 31.29%. The firm had revenue of $2.28 billion during the quarter, compared to analyst estimates of $2.15 billion. Research analysts forecast that Coterra Energy Inc. will post 2.8 EPS for the current year.

Coterra Energy Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 30th. Shareholders of record on Thursday, March 16th will be given a $0.57 dividend. The ex-dividend date of this dividend is Wednesday, March 15th. This represents a $2.28 dividend on an annualized basis and a yield of 9.16%. Coterra Energy’s payout ratio is 11.74%.

Wall Street Analyst Weigh In

CTRA has been the topic of a number of research analyst reports. Tudor Pickering lowered shares of Coterra Energy from a “buy” rating to a “hold” rating in a research note on Wednesday, November 30th. Tudor, Pickering, Holt & Co. lowered shares of Coterra Energy from a “buy” rating to a “hold” rating in a research note on Wednesday, November 30th. Barclays lowered their price objective on shares of Coterra Energy from $30.00 to $26.00 and set an “equal weight” rating on the stock in a research note on Monday, January 23rd. Roth Capital reiterated a “neutral” rating on shares of Coterra Energy in a research note on Wednesday, February 22nd. Finally, Mizuho lowered their price objective on shares of Coterra Energy from $40.00 to $38.00 in a research note on Friday, March 10th. One analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, Coterra Energy currently has an average rating of “Hold” and a consensus target price of $30.25.

About Coterra Energy

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Coterra Energy Inc is a diversified energy company, which engages in the exploration, development, and production of oil and natural gas properties. Its portfolio includes projects in the Permian Basin, the Marcellus Shale, and the Anadarko Basin. The company was renamed to Coterra Energy Inc on October 1, 2021 in connection with the merger involving Cabot Oil & Gas Corp.