Elo Mutual Pension Insurance Co Decreases Holdings in Coterra Energy Inc. (NYSE:CTRA)

Elo Mutual Pension Insurance Co cut its stake in Coterra Energy Inc. (NYSE:CTRA) by 6.2% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 64,435 shares of the company’s stock after selling 4,294 shares during the quarter. Elo Mutual Pension Insurance Co’s holdings in Coterra Energy were worth $1,718,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. BI Asset Management Fondsmaeglerselskab A S grew its holdings in Coterra Energy by 13.0% during the 4th quarter. BI Asset Management Fondsmaeglerselskab A S now owns 30,262 shares of the company’s stock valued at $772,000 after purchasing an additional 3,481 shares in the last quarter. Gladstone Institutional Advisory LLC boosted its position in Coterra Energy by 7.8% in the 4th quarter. Gladstone Institutional Advisory LLC now owns 8,509 shares of the company’s stock valued at $217,000 after buying an additional 615 shares during the last quarter. Balentine LLC grew its stake in shares of Coterra Energy by 8.4% during the fourth quarter. Balentine LLC now owns 11,863 shares of the company’s stock valued at $303,000 after acquiring an additional 917 shares in the last quarter. Cambridge Investment Research Advisors Inc. increased its position in shares of Coterra Energy by 3.9% during the fourth quarter. Cambridge Investment Research Advisors Inc. now owns 151,805 shares of the company’s stock worth $3,874,000 after acquiring an additional 5,702 shares during the last quarter. Finally, TCW Group Inc. acquired a new position in shares of Coterra Energy in the fourth quarter worth about $302,000. Institutional investors and hedge funds own 87.92% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the company. Bank of America reaffirmed a “buy” rating and issued a $34.00 target price on shares of Coterra Energy in a research report on Friday, June 14th. Roth Mkm upgraded shares of Coterra Energy from a “neutral” rating to a “buy” rating and increased their price objective for the company from $25.00 to $29.00 in a research note on Tuesday, August 27th. Susquehanna decreased their price objective on shares of Coterra Energy from $33.00 to $30.00 and set a “positive” rating for the company in a report on Wednesday, September 4th. Piper Sandler cut their target price on shares of Coterra Energy from $39.00 to $31.00 and set an “overweight” rating on the stock in a research note on Thursday, August 15th. Finally, Wolfe Research assumed coverage on Coterra Energy in a research note on Thursday, July 18th. They issued an “outperform” rating and a $35.00 price target for the company. Two analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $32.59.

Coterra Energy Stock Performance

CTRA opened at $23.57 on Friday. Coterra Energy Inc. has a twelve month low of $22.30 and a twelve month high of $29.89. The stock has a market cap of $17.54 billion, a PE ratio of 13.62, a price-to-earnings-growth ratio of 1.16 and a beta of 0.22. The business’s 50 day moving average is $24.49 and its 200-day moving average is $26.42. The company has a current ratio of 1.40, a quick ratio of 1.38 and a debt-to-equity ratio of 0.16.

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

Coterra Energy Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, August 29th. Investors of record on Thursday, August 15th were given a $0.21 dividend. The ex-dividend date of this dividend was Thursday, August 15th. This represents a $0.84 dividend on an annualized basis and a yield of 3.56%. Coterra Energy’s dividend payout ratio is presently 48.55%.

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.