Meeder Advisory Services Inc. Invests $252,000 in Coterra Energy Inc. (NYSE:CTRA)

Meeder Advisory Services Inc. purchased a new stake in Coterra Energy Inc. (NYSE:CTRA) in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 9,451 shares of the company’s stock, valued at approximately $252,000.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Janney Montgomery Scott LLC grew its position in Coterra Energy by 2.2% in the fourth quarter. Janney Montgomery Scott LLC now owns 215,700 shares of the company’s stock worth $5,504,000 after acquiring an additional 4,731 shares in the last quarter. Beacon Pointe Advisors LLC increased its position in Coterra Energy by 5.8% during the fourth quarter. Beacon Pointe Advisors LLC now owns 44,303 shares of the company’s stock worth $1,131,000 after buying an additional 2,420 shares during the last quarter. Fiera Capital Corp bought a new position in Coterra Energy during the fourth quarter valued at about $531,000. Robeco Institutional Asset Management B.V. lifted its position in shares of Coterra Energy by 172.6% in the fourth quarter. Robeco Institutional Asset Management B.V. now owns 726,123 shares of the company’s stock worth $18,531,000 after buying an additional 459,713 shares during the last quarter. Finally, Dynamic Technology Lab Private Ltd boosted its stake in shares of Coterra Energy by 273.3% during the 4th quarter. Dynamic Technology Lab Private Ltd now owns 73,615 shares of the company’s stock worth $1,879,000 after acquiring an additional 53,896 shares in the last quarter. Institutional investors and hedge funds own 87.92% of the company’s stock.

Coterra Energy Stock Performance

CTRA opened at $22.78 on Monday. The stock’s 50 day simple moving average is $24.77 and its 200-day simple moving average is $26.50. The company has a current ratio of 1.40, a quick ratio of 1.38 and a debt-to-equity ratio of 0.16. The stock has a market cap of $16.95 billion, a PE ratio of 13.17, a P/E/G ratio of 1.16 and a beta of 0.22. Coterra Energy Inc. has a 1 year low of $22.30 and a 1 year high of $29.89.

Coterra Energy (NYSE:CTRA) last posted its quarterly earnings results on Thursday, August 1st. The company reported $0.37 earnings per share for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.02). Coterra Energy had a return on equity of 10.48% and a net margin of 23.18%. The business had revenue of $1.27 billion for the quarter, compared to analyst estimates of $1.32 billion. During the same quarter in the prior year, the firm earned $0.38 EPS. The firm’s quarterly revenue was up 7.3% on a year-over-year basis. Sell-side analysts forecast that Coterra Energy Inc. will post 1.95 EPS for the current year.

Coterra Energy Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 29th. Investors of record on Thursday, August 15th were given a $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 3.69%. The ex-dividend date of this dividend was Thursday, August 15th. Coterra Energy’s dividend payout ratio (DPR) is presently 48.55%.

Analyst Ratings Changes

A number of research analysts recently weighed in on CTRA shares. JPMorgan Chase & Co. cut their price objective on Coterra Energy from $31.00 to $26.00 and set an “overweight” rating on the stock in a research note on Thursday. Piper Sandler reduced their price objective on shares of Coterra Energy from $39.00 to $31.00 and set an “overweight” rating for the company in a research note on Thursday, August 15th. BMO Capital Markets raised shares of Coterra Energy to a “hold” rating in a report on Wednesday, July 3rd. Truist Financial dropped their target price on shares of Coterra Energy from $35.00 to $34.00 and set a “buy” rating on the stock in a report on Monday, July 22nd. Finally, Roth Mkm raised shares of Coterra Energy from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $25.00 to $29.00 in a research report on Tuesday, August 27th. Two investment analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Coterra Energy has an average rating of “Moderate Buy” and a consensus target price of $32.88.

Coterra Energy Company Profile

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.