Davis Selected Advisers Purchases New Stake in Coterra Energy Inc. $CTRA

Davis Selected Advisers purchased a new stake in shares of Coterra Energy Inc. (NYSE:CTRA) in the second quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 9,338,141 shares of the company’s stock, valued at approximately $237,002,000. Coterra Energy makes up 1.3% of Davis Selected Advisers’ investment portfolio, making the stock its 23rd biggest position. Davis Selected Advisers owned 1.22% of Coterra Energy as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in CTRA. Banque Cantonale Vaudoise bought a new stake in shares of Coterra Energy during the first quarter worth about $29,000. Bogart Wealth LLC acquired a new position in Coterra Energy during the 2nd quarter valued at about $26,000. REAP Financial Group LLC raised its stake in shares of Coterra Energy by 190.1% in 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 during the last quarter. TCTC Holdings LLC raised its stake in shares of Coterra Energy by 51.0% in the first quarter. TCTC Holdings LLC now owns 1,771 shares of the company’s stock worth $51,000 after purchasing an additional 598 shares during the last quarter. Finally, Tobam lifted its holdings in shares of Coterra Energy by 50.9% in the second quarter. Tobam now owns 1,823 shares of the company’s stock valued at $46,000 after purchasing an additional 615 shares in the last quarter. 87.92% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the company. Wells Fargo & Company upped their price target on Coterra Energy from $32.00 to $33.00 and gave the stock an “overweight” rating in a report on Thursday, August 14th. The Goldman Sachs Group reduced their target price on shares of Coterra Energy from $30.00 to $29.00 and set a “neutral” rating for the company in a research note on Wednesday, October 15th. Wolfe Research dropped their price target on shares of Coterra Energy from $36.00 to $35.00 and set an “outperform” rating on the stock in a research report on Tuesday, November 4th. Roth Capital restated a “buy” rating and set a $27.00 price target on shares of Coterra Energy in a report on Tuesday, November 4th. Finally, Zacks Research downgraded shares of Coterra Energy from a “hold” rating to a “strong sell” rating in a research report on Monday, October 13th. Seventeen analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $32.43.

Coterra Energy Price Performance

Shares of NYSE:CTRA opened at $25.84 on Friday. The company has a market capitalization of $19.67 billion, a P/E ratio of 12.36, a price-to-earnings-growth ratio of 0.36 and a beta of 0.30. The company’s 50-day moving average is $24.07 and its 200 day moving average is $24.48. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.08 and a current ratio of 1.13. Coterra Energy Inc. has a fifty-two week low of $22.33 and a fifty-two week high of $29.95.

Coterra Energy (NYSE:CTRA) last posted its quarterly earnings data on Monday, November 3rd. The company reported $0.41 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 10.99% and a net margin of 23.80%.The business’s quarterly revenue was up 33.7% on a year-over-year basis. During the same quarter last year, the business posted $0.32 EPS. On average, equities research analysts forecast that Coterra Energy Inc. will post 1.54 earnings per share for the current year.

Coterra Energy Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 26th. Investors of record on Thursday, November 13th will be issued a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a dividend yield of 3.4%. The ex-dividend date of this dividend is Thursday, November 13th. Coterra Energy’s payout ratio is 40.55%.

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.