Geode Capital Management LLC Has $522.94 Million Stock Holdings in Coterra Energy Inc. $CTRA

Geode Capital Management LLC raised its holdings in shares of Coterra Energy Inc. (NYSE:CTRA) by 4.8% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 20,685,670 shares of the company’s stock after purchasing an additional 953,824 shares during the quarter. Geode Capital Management LLC owned 2.71% of Coterra Energy worth $522,936,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. New York State Common Retirement Fund raised its holdings in Coterra Energy by 6.6% during the 1st quarter. New York State Common Retirement Fund now owns 330,423 shares of the company’s stock valued at $9,549,000 after acquiring an additional 20,391 shares during the period. Graypoint LLC purchased a new position in shares of Coterra Energy in the 1st quarter worth about $204,000. Commerzbank Aktiengesellschaft FI grew its position in Coterra Energy by 5.2% during the first quarter. Commerzbank Aktiengesellschaft FI now owns 36,628 shares of the company’s stock valued at $1,059,000 after acquiring an additional 1,794 shares during the last quarter. Outfitter Financial LLC lifted its stake in Coterra Energy by 5.5% in the first quarter. Outfitter Financial LLC now owns 22,006 shares of the company’s stock worth $636,000 after purchasing an additional 1,150 shares during the last quarter. Finally, Foundry Partners LLC grew its position in Coterra Energy by 40.8% during the 1st quarter. Foundry Partners LLC now owns 613,773 shares of the company’s stock worth $17,738,000 after acquiring an additional 177,763 shares during the last quarter. 87.92% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

CTRA has been the topic of a number of recent analyst reports. Weiss Ratings reiterated a “hold (c-)” rating on shares of Coterra Energy in a research report on Thursday. Mizuho cut their price target on Coterra Energy from $36.00 to $33.00 and set an “outperform” rating on the stock in a research note on Monday, September 15th. JPMorgan Chase & Co. reduced their price target on shares of Coterra Energy from $35.00 to $34.00 and set an “overweight” rating for the company in a research report on Wednesday, November 5th. UBS Group lowered their target price on shares of Coterra Energy from $30.00 to $29.00 and set a “buy” rating on the stock in a research note on Tuesday, October 14th. Finally, Morgan Stanley lowered their price objective on shares of Coterra Energy from $29.00 to $28.00 and set an “equal weight” rating on the stock in a research note on Tuesday, October 14th. Seventeen investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $32.43.

Coterra Energy Stock Up 2.0%

Shares of CTRA opened at $26.34 on Friday. The business’s 50 day moving average is $24.12 and its 200 day moving average is $24.49. The company has a current ratio of 1.13, a quick ratio of 1.08 and a debt-to-equity ratio of 0.29. Coterra Energy Inc. has a 12-month low of $22.33 and a 12-month high of $29.95. The company has a market capitalization of $20.06 billion, a PE ratio of 12.60, a price-to-earnings-growth ratio of 0.36 and a beta of 0.30.

Coterra Energy (NYSE:CTRA) last announced its quarterly earnings results on Monday, November 3rd. The company reported $0.41 EPS for the quarter, missing the consensus estimate of $0.43 by ($0.02). The company had revenue of $1.82 billion during the quarter, compared to analysts’ expectations of $1.83 billion. Coterra Energy had a return on equity of 10.99% and a net margin of 23.80%.The firm’s revenue for the quarter was up 33.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.32 EPS. Research analysts expect that Coterra Energy Inc. will post 1.54 earnings per share for the current fiscal year.

Coterra Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 26th. Investors of record on Thursday, November 13th will be paid a dividend of $0.22 per share. The ex-dividend date of this dividend is Thursday, November 13th. This represents a $0.88 dividend on an annualized basis and a yield of 3.3%. Coterra Energy’s dividend payout ratio is presently 40.55%.

About Coterra Energy

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.