Victory Capital Management Inc. Boosts Holdings in Coterra Energy Inc. (NYSE:CTRA)

Victory Capital Management Inc. raised its position in shares of Coterra Energy Inc. (NYSE:CTRA) by 1.2% in the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 16,963,084 shares of the company’s stock after purchasing an additional 195,966 shares during the quarter. Victory Capital Management Inc. owned 2.29% of Coterra Energy worth $406,266,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the business. Fortitude Family Office LLC boosted its stake in Coterra Energy by 154.9% in the 2nd quarter. Fortitude Family Office LLC now owns 933 shares of the company’s stock worth $25,000 after purchasing an additional 567 shares during the period. Larson Financial Group LLC increased its position in shares of Coterra Energy by 98.0% during the 2nd quarter. Larson Financial Group LLC now owns 1,081 shares of the company’s stock valued at $29,000 after purchasing an additional 535 shares during the last quarter. Values First Advisors Inc. purchased a new stake in shares of Coterra Energy in the third quarter valued at $57,000. Tobam bought a new position in Coterra Energy in the 3rd quarter valued at $63,000. Finally, EverSource Wealth Advisors LLC lifted its stake in Coterra Energy by 31.0% in the first quarter. EverSource Wealth Advisors LLC now owns 2,351 shares of the company’s stock worth $64,000 after acquiring an additional 557 shares during the period. 87.92% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts recently issued reports on the company. Wells Fargo & Company reduced their target price on Coterra Energy from $34.00 to $32.00 and set an “overweight” rating on the stock in a research report on Tuesday, October 1st. Piper Sandler reaffirmed an “overweight” rating and set a $32.00 target price (up from $31.00) on shares of Coterra Energy in a report on Monday, November 4th. Roth Mkm raised shares of Coterra Energy from a “neutral” rating to a “buy” rating and increased their target price for the stock from $25.00 to $29.00 in a research note on Tuesday, August 27th. Morgan Stanley reduced their price objective on shares of Coterra Energy from $29.00 to $27.00 and set an “equal weight” rating for the company in a research report on Monday, September 16th. Finally, Barclays reduced their price target on Coterra Energy from $33.00 to $31.00 and set an “overweight” rating on the stock in a report on Thursday, October 3rd. Two research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $31.29.

Coterra Energy Price Performance

Shares of Coterra Energy stock traded down $0.03 during midday trading on Tuesday, reaching $25.38. The company had a trading volume of 1,322,729 shares, compared to its average volume of 6,217,110. The stock has a fifty day simple moving average of $23.77 and a 200 day simple moving average of $25.54. The company has a current ratio of 1.61, a quick ratio of 1.38 and a debt-to-equity ratio of 0.16. The company has a market capitalization of $18.70 billion, a price-to-earnings ratio of 15.31, a price-to-earnings-growth ratio of 1.59 and a beta of 0.22. Coterra Energy Inc. has a 1-year low of $22.30 and a 1-year high of $28.90.

Coterra Energy (NYSE:CTRA) last released its earnings results on Thursday, October 31st. The company reported $0.32 earnings per share for the quarter, missing the consensus estimate of $0.35 by ($0.03). The company had revenue of $1.36 billion during the quarter, compared to analyst estimates of $1.28 billion. Coterra Energy had a net margin of 21.91% and a return on equity of 9.38%. The company’s quarterly revenue was up .2% compared to the same quarter last year. During the same period in the previous year, the company posted $0.47 EPS. As a group, equities research analysts forecast that Coterra Energy Inc. will post 1.54 earnings per share for the current year.

Coterra Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 27th. Shareholders of record on Thursday, November 14th will be issued a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a yield of 3.31%. The ex-dividend date is Thursday, November 14th. Coterra Energy’s dividend payout ratio is 50.60%.

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.