45,914 Shares in Coterra Energy Inc. $CTRA Purchased by Summit Global Investments

Summit Global Investments acquired a new stake in Coterra Energy Inc. (NYSE:CTRA) during the 3rd quarter, HoldingsChannel.com reports. The institutional investor acquired 45,914 shares of the company’s stock, valued at approximately $1,086,000.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Bogart Wealth LLC purchased a new stake in Coterra Energy in the 2nd quarter worth $26,000. REAP Financial Group LLC increased its stake in shares of Coterra Energy by 190.1% during the second quarter. REAP Financial Group LLC now owns 1,108 shares of the company’s stock worth $28,000 after purchasing an additional 726 shares in the last quarter. Tobam raised its position in shares of Coterra Energy by 50.9% during the 2nd quarter. Tobam now owns 1,823 shares of the company’s stock worth $46,000 after purchasing an additional 615 shares during the last quarter. CYBER HORNET ETFs LLC purchased a new position in Coterra Energy in the 2nd quarter valued at about $50,000. Finally, Steigerwald Gordon & Koch Inc. purchased a new stake in Coterra Energy during the 3rd quarter worth approximately $50,000. 87.92% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

CTRA has been the topic of a number of research analyst reports. Siebert Williams Shank lifted their price target on Coterra Energy from $32.00 to $35.00 and gave the stock a “buy” rating in a research note on Monday, January 26th. Stephens upped their target price on shares of Coterra Energy from $33.00 to $34.00 and gave the stock an “overweight” rating in a report on Thursday. Piper Sandler decreased their price target on shares of Coterra Energy from $37.00 to $36.00 and set an “overweight” rating on the stock in a research note on Wednesday. Weiss Ratings reissued a “hold (c)” rating on shares of Coterra Energy in a research report on Monday, December 29th. Finally, Wolfe Research upped their price objective on shares of Coterra Energy from $32.00 to $33.00 and gave the company an “outperform” rating in a report on Monday, January 26th. Sixteen equities research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Coterra Energy presently has a consensus rating of “Moderate Buy” and an average target price of $32.81.

Coterra Energy Stock Up 2.8%

Coterra Energy stock opened at $28.84 on Friday. The company has a market capitalization of $21.96 billion, a PE ratio of 13.29, a price-to-earnings-growth ratio of 0.66 and a beta of 0.36. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.98 and a current ratio of 1.02. Coterra Energy Inc. has a fifty-two week low of $22.33 and a fifty-two week high of $29.82. The firm has a 50 day moving average price of $26.31 and a 200 day moving average price of $24.90.

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 analysts’ consensus estimates of $0.43 by ($0.02). Coterra Energy had a net margin of 23.25% and a return on equity of 11.23%. The firm had revenue of $1.82 billion during the quarter, compared to analyst estimates of $1.83 billion. During the same period in the previous year, the firm posted $0.32 earnings per share. The company’s quarterly revenue was up 33.7% compared to the same quarter last year. Research analysts expect that Coterra Energy Inc. will post 1.54 earnings per share for the current year.

Coterra Energy Announces Dividend

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

Coterra Energy Company Profile

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.