Mirae Asset Global Investments Co. Ltd. Increases Position in Coterra Energy Inc. $CTRA

Mirae Asset Global Investments Co. Ltd. grew its stake in Coterra Energy Inc. (NYSE:CTRA) by 3.8% in the third quarter, Holdings Channel.com reports. The firm owned 816,085 shares of the company’s stock after acquiring an additional 30,250 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in Coterra Energy were worth $19,300,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Bank of New York Mellon Corp lifted its holdings in Coterra Energy by 34.0% in the third quarter. Bank of New York Mellon Corp now owns 6,865,527 shares of the company’s stock valued at $162,370,000 after acquiring an additional 1,741,125 shares during the last quarter. Hussman Strategic Advisors Inc. purchased a new position in shares of Coterra Energy during the 3rd quarter worth approximately $1,490,000. Truist Financial Corp raised its position in Coterra Energy by 11.1% in the third quarter. Truist Financial Corp now owns 4,681,093 shares of the company’s stock valued at $110,708,000 after purchasing an additional 467,778 shares during the period. DSG Capital Advisors LLC lifted its stake in Coterra Energy by 1.2% during the third quarter. DSG Capital Advisors LLC now owns 86,906 shares of the company’s stock worth $2,055,000 after purchasing an additional 1,005 shares in the last quarter. Finally, Core Alternative Capital boosted its position in shares of Coterra Energy by 27.6% during the third quarter. Core Alternative Capital now owns 155,939 shares of the company’s stock worth $3,688,000 after buying an additional 33,730 shares during the period. Institutional investors and hedge funds own 87.92% of the company’s stock.

Coterra Energy Stock Up 1.1%

Shares of NYSE:CTRA opened at $28.09 on Friday. Coterra Energy Inc. has a fifty-two week low of $22.33 and a fifty-two week high of $29.82. The firm’s 50 day moving average price is $26.25 and its 200 day moving average price is $24.88. The company has a quick ratio of 0.98, a current ratio of 1.02 and a debt-to-equity ratio of 0.25. The stock has a market cap of $21.39 billion, a price-to-earnings ratio of 12.94, a price-to-earnings-growth ratio of 0.66 and a beta of 0.36.

Coterra Energy (NYSE:CTRA) last issued its quarterly earnings data on Monday, November 3rd. The company reported $0.41 earnings per share for the quarter, missing the consensus estimate of $0.43 by ($0.02). The company had revenue of $1.82 billion for the quarter, compared to analysts’ expectations of $1.83 billion. Coterra Energy had a return on equity of 11.23% and a net margin of 23.25%.The firm’s quarterly revenue was up 33.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.32 EPS. As a group, equities research analysts predict that Coterra Energy Inc. will post 1.54 earnings per share for the current fiscal year.

Coterra Energy Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, November 26th. Stockholders of record on Thursday, November 13th were paid a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a dividend yield of 3.1%. The ex-dividend date was Thursday, November 13th. Coterra Energy’s dividend payout ratio is 40.55%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the company. Piper Sandler cut their price objective on Coterra Energy from $37.00 to $36.00 and set an “overweight” rating on the stock in a report on Wednesday. Barclays dropped their target price on Coterra Energy from $35.00 to $34.00 and set an “overweight” rating for the company in a research report on Wednesday, January 21st. Morgan Stanley reduced their price target on shares of Coterra Energy from $29.00 to $28.00 and set an “equal weight” rating on the stock in a research report on Tuesday, October 14th. Roth Mkm raised their price objective on shares of Coterra Energy from $27.00 to $30.00 and gave the company a “buy” rating in a research note on Friday, January 23rd. Finally, The Goldman Sachs Group dropped their price objective on shares of Coterra Energy from $30.00 to $29.00 and set a “neutral” rating for the company in a report on Wednesday, October 15th. Sixteen analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $32.76.

About Coterra Energy

Coterra Energy (NYSE: CTRA) is an independent oil and natural gas exploration and production company focused on the development, production and optimization of onshore hydrocarbon resources in the United States. The company’s operations center on the exploration, drilling, completion and production of crude oil, natural gas and natural gas liquids (NGLs), with an emphasis on maximizing operational efficiency and capital discipline across its asset base.

Its business activities include identifying and developing resource-rich acreage, operating producing wells, managing reservoir performance and marketing produced hydrocarbons to a range of midstream and energy customers.