Scotia Capital Inc. Grows Holdings in Coterra Energy Inc. (NYSE:CTRA)

Scotia Capital Inc. boosted its stake in Coterra Energy Inc. (NYSE:CTRAFree Report) by 21.5% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 49,547 shares of the company’s stock after purchasing an additional 8,768 shares during the period. Scotia Capital Inc.’s holdings in Coterra Energy were worth $1,264,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Qtron Investments LLC purchased a new position in Coterra Energy in the 4th quarter valued at approximately $322,000. Pingora Partners LLC acquired a new stake in shares of Coterra Energy in the fourth quarter valued at $3,949,000. Treasurer of the State of North Carolina boosted its holdings in Coterra Energy by 0.9% in the fourth quarter. Treasurer of the State of North Carolina now owns 389,925 shares of the company’s stock valued at $9,951,000 after purchasing an additional 3,510 shares during the period. Olympiad Research LP grew its stake in Coterra Energy by 20.7% during the 4th quarter. Olympiad Research LP now owns 9,908 shares of the company’s stock worth $253,000 after purchasing an additional 1,698 shares in the last quarter. Finally, Allianz Asset Management GmbH increased its holdings in Coterra Energy by 98.7% during the 4th quarter. Allianz Asset Management GmbH now owns 170,514 shares of the company’s stock worth $4,352,000 after purchasing an additional 84,680 shares during the period. Hedge funds and other institutional investors own 87.92% of the company’s stock.

Coterra Energy Price Performance

CTRA stock opened at $27.74 on Tuesday. The company has a current ratio of 1.49, a quick ratio of 1.46 and a debt-to-equity ratio of 0.16. The company has a market capitalization of $20.64 billion, a P/E ratio of 16.03 and a beta of 0.21. The business has a 50 day simple moving average of $27.86 and a 200-day simple moving average of $26.39. Coterra Energy Inc. has a twelve month low of $23.39 and a twelve month high of $29.89.

Coterra Energy (NYSE:CTRAGet Free Report) last issued its quarterly earnings results on Thursday, May 2nd. The company reported $0.50 earnings per share for the quarter, topping analysts’ consensus estimates of $0.41 by $0.09. The firm had revenue of $1.43 billion during the quarter, compared to analysts’ expectations of $1.38 billion. Coterra Energy had a net margin of 23.34% and a return on equity of 10.75%. As a group, equities analysts anticipate that Coterra Energy Inc. will post 1.81 EPS for the current year.

Coterra Energy Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, May 30th. Shareholders of record on Thursday, May 16th were paid a $0.21 dividend. The ex-dividend date of this dividend was Wednesday, May 15th. This represents a $0.84 annualized dividend and a dividend yield of 3.03%. Coterra Energy’s dividend payout ratio (DPR) is currently 48.55%.

Analyst Ratings Changes

CTRA has been the subject of several recent research reports. Susquehanna lifted their price objective on Coterra Energy from $32.00 to $33.00 and gave the company a “positive” rating in a research note on Tuesday, May 7th. Citigroup lifted their price target on shares of Coterra Energy from $30.00 to $31.00 and gave the stock a “buy” rating in a research note on Friday, May 24th. Morgan Stanley increased their price objective on shares of Coterra Energy from $26.00 to $29.00 and gave the company an “equal weight” rating in a research report on Wednesday, April 17th. JPMorgan Chase & Co. lifted their price objective on shares of Coterra Energy from $29.00 to $30.00 and gave the stock an “overweight” rating in a research report on Thursday, April 4th. Finally, Piper Sandler boosted their target price on shares of Coterra Energy from $37.00 to $39.00 and gave the stock an “overweight” rating in a research note on Tuesday, May 14th. One research analyst has rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $33.73.

View Our Latest Analysis on CTRA

Insider Activity

In related news, CAO Todd M. Roemer sold 55,000 shares of the stock in a transaction on Wednesday, March 20th. The stock was sold at an average price of $27.06, for a total transaction of $1,488,300.00. Following the completion of the sale, the chief accounting officer now directly owns 176,758 shares of the company’s stock, valued at $4,783,071.48. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 1.70% of the company’s stock.

Coterra Energy Profile

(Free Report)

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.

See Also

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

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