Intact Investment Management Inc. Reduces Position in Coterra Energy Inc. $CTRA

Intact Investment Management Inc. decreased its holdings in shares of Coterra Energy Inc. (NYSE:CTRA) by 14.6% during the second quarter, according to the company in its most recent disclosure with the SEC. The fund owned 129,400 shares of the company’s stock after selling 22,100 shares during the quarter. Intact Investment Management Inc.’s holdings in Coterra Energy were worth $3,284,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Wellington Management Group LLP boosted its holdings in Coterra Energy by 15.3% during the 1st quarter. Wellington Management Group LLP now owns 83,631,117 shares of the company’s stock valued at $2,416,939,000 after acquiring an additional 11,102,350 shares during the period. Davis Selected Advisers bought a new stake in shares of Coterra Energy during the second quarter worth $237,002,000. Vanguard Group Inc. boosted its stake in shares of Coterra Energy by 3.1% during the second quarter. Vanguard Group Inc. now owns 95,209,961 shares of the company’s stock valued at $2,416,429,000 after purchasing an additional 2,872,288 shares during the period. Truist Financial Corp grew its holdings in shares of Coterra Energy by 165.3% in the second quarter. Truist Financial Corp now owns 4,213,315 shares of the company’s stock worth $106,934,000 after purchasing an additional 2,625,126 shares during the last quarter. Finally, Nuveen LLC purchased a new position in Coterra Energy in the 1st quarter worth about $64,173,000. 87.92% of the stock is owned by institutional investors.

Coterra Energy Price Performance

NYSE CTRA opened at $27.04 on Thursday. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.98 and a current ratio of 1.02. The firm’s 50 day moving average price is $25.05 and its 200-day moving average price is $24.75. Coterra Energy Inc. has a 52-week low of $22.33 and a 52-week high of $29.95. The company has a market cap of $20.58 billion, a PE ratio of 12.46, a P/E/G ratio of 0.45 and a beta of 0.33.

Coterra Energy (NYSE:CTRA) last issued its quarterly earnings data on Monday, November 3rd. The company reported $0.41 EPS for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.02). The business had revenue of $1.82 billion during the quarter, compared to the consensus estimate of $1.83 billion. Coterra Energy had a return on equity of 11.23% and a net margin of 23.25%.The business’s quarterly revenue was up 33.7% on a year-over-year basis. During the same period last year, the firm earned $0.32 EPS. Sell-side analysts forecast that Coterra Energy Inc. will post 1.54 EPS for the current fiscal year.

Coterra Energy Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, November 26th. Stockholders of record on Thursday, November 13th were given a dividend of $0.22 per share. The ex-dividend date of this dividend was Thursday, November 13th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 3.3%. Coterra Energy’s dividend payout ratio is presently 40.55%.

Wall Street Analyst Weigh In

A number of equities analysts have commented on CTRA shares. Piper Sandler dropped their target price on shares of Coterra Energy from $38.00 to $37.00 and set an “overweight” rating on the stock in a research note on Tuesday, November 18th. Barclays lowered their price target on Coterra Energy from $37.00 to $35.00 and set an “overweight” rating for the company in a report on Tuesday, October 7th. Susquehanna dropped their price objective on Coterra Energy from $32.00 to $31.00 and set a “positive” rating on the stock in a research note on Monday, October 20th. Stephens reduced their price objective on Coterra Energy from $34.00 to $33.00 and set an “overweight” rating on the stock in a report on Tuesday, October 21st. Finally, Wolfe Research lowered their target price on Coterra Energy from $36.00 to $35.00 and set an “outperform” rating for the company in a report on Tuesday, November 4th. Seventeen equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $32.86.

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.