Rakuten Investment Management Inc. Makes New Investment in Coterra Energy Inc. $CTRA

Rakuten Investment Management Inc. acquired a new position in Coterra Energy Inc. (NYSE:CTRA) during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 93,285 shares of the company’s stock, valued at approximately $2,206,000.

A number of other hedge funds also recently made changes to their positions in CTRA. Bogart Wealth LLC bought a new stake in Coterra Energy during the 2nd quarter worth approximately $26,000. REAP Financial Group LLC increased 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 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 valued at $46,000 after purchasing an additional 615 shares during the period. CYBER HORNET ETFs LLC purchased a new position in shares of Coterra Energy during the 2nd quarter valued at $50,000. Finally, Steigerwald Gordon & Koch Inc. bought a new position in Coterra Energy in the 3rd quarter worth $50,000. 87.92% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

CTRA has been the topic of a number of recent analyst reports. William Blair started coverage on Coterra Energy in a report on Wednesday, November 26th. They set an “outperform” rating and a $36.00 price target on the stock. Susquehanna cut their target price on Coterra Energy from $32.00 to $31.00 and set a “positive” rating for the company in a research report on Monday, October 20th. Barclays lowered their price target on Coterra Energy from $35.00 to $34.00 and set an “overweight” rating on the stock in a report on Wednesday. Raymond James Financial upped their price target on Coterra Energy from $28.00 to $31.00 and gave the stock an “outperform” rating in a research note on Monday, November 24th. Finally, Wolfe Research reduced their price objective 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. Sixteen equities research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Coterra Energy has an average rating of “Moderate Buy” and an average target price of $32.57.

Coterra Energy Price Performance

CTRA stock opened at $27.44 on Friday. Coterra Energy Inc. has a 52 week low of $22.33 and a 52 week high of $29.82. The firm has a market capitalization of $20.89 billion, a P/E ratio of 12.64, a price-to-earnings-growth ratio of 0.60 and a beta of 0.36. The company has a fifty day simple moving average of $26.10 and a two-hundred day simple moving average of $24.81. The company has a quick ratio of 0.98, a current ratio of 1.02 and a debt-to-equity ratio of 0.25.

Coterra Energy (NYSE:CTRA) last announced its earnings results on Monday, November 3rd. The company reported $0.41 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.43 by ($0.02). Coterra Energy had a net margin of 23.25% and a return on equity of 11.23%. The business had revenue of $1.82 billion for the quarter, compared to analysts’ expectations of $1.83 billion. During the same quarter in the prior year, the company posted $0.32 earnings per share. The firm’s quarterly revenue was up 33.7% compared to the same quarter last year. Analysts anticipate that Coterra Energy Inc. will post 1.54 earnings per share for the current fiscal year.

Coterra Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, November 26th. Shareholders of record on Thursday, November 13th were given 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 3.2%. Coterra Energy’s dividend payout ratio is 40.55%.

About Coterra Energy

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.