Marshall Wace LLP acquires 1,127,399 shares of Coterra Energy Inc. (NYSE:CTRA)

Marshall Wace LLP increased its holdings in shares of Coterra Energy Inc. (NYSE:CTRA – Free Report) by 5,325.5% in the second quarter, according to its most recent disclosure with the SEC. The fund owned 1,148,569 shares of the company’s stock after purchasing an additional 1,127,399 shares during the period. Marshall Wace LLP owned about 0.15% of Coterra Energy worth $30,632,000 as of its most recent SEC filing.

Other hedge funds have recently made changes to their positions in the company. Fortitude Family Office LLC boosted its stake in Coterra Energy by 154.9% in the second quarter. Fortitude Family Office LLC now owns 933 shares of the company’s stock valued at $25,000 after buying an additional 567 shares in the last quarter. Larson Financial Group LLC raised its position in shares of Coterra Energy by 98.0% in the second quarter. Larson Financial Group LLC now owns 1,081 shares of the company’s stock worth $29,000 after acquiring an additional 535 shares in the last quarter. Central Pacific Bank Trust Division bought a new position in Coterra Energy in the 1st quarter valued at approximately $44,000. Harbor Investment Advisory LLC raised its position in Coterra Energy by 869.3% in the first quarter. Harbor Investment Advisory LLC now owns 1,609 shares of the company’s stock valued at $45,000 after purchasing an additional 1,443 shares during the last quarter. Finally, Northwest Investment Counselors LLC bought a new stake in Coterra Energy in the first quarter valued at about $47,000. 87.92% of shares are owned by institutional investors.

The Wall Street analyst weighs in

Several research analysts have recently issued reports on CTRA shares. BMO Capital Markets upgraded shares of Coterra Energy to a “hold” rating in a research note on Wednesday, July 3rd. Wolfe Research assumed coverage on Coterra Energy in a research note on Thursday, July 18th. They set an “outperform” rating and a $35.00 price target on the stock. UBS Group cut their price target on Coterra Energy from $34.00 to $31.00 and set a “buy” rating for the company in a report on Wednesday, September 18th. Roth Capital raised Coterra Energy from a “hold” rating to a “strong-buy” rating in a report on Tuesday, August 27th. Finally, Morgan Stanley reduced their price objective on Coterra Energy from $29.00 to $27.00 and set an “equal weight” rating for the company in a report on Monday, September 16th. Two investment analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the company. The stock currently has a consensus rating of “Moderate Buy” and an average price target of $32.59, according to MarketBeat .

Check out our latest report on Coterra Energy

Coterra Energy Price Performance

NYSE CTRA opened at $23.06 on Friday. The company’s fifty day moving average is $24.13 and its 200 day moving average is $26.32. Coterra Energy Inc. it has a fifty-two week low of $22.30 and a fifty-two week high of $29.89. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.38, and a current ratio of 1.40. The company has a market cap of $17.04 billion, a PE ratio of 13.33, a price-to-earnings-growth ratio of 1.37 and a beta of 0.22.

Coterra Energy (NYSE:CTRA – Get Your Free Report ) last issued its quarterly earnings data on Thursday, August 1st. The company reported $0.37 earnings per share for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.02). The company had revenue of $1.27 billion for the quarter, compared to analysts’ expectations of $1.32 billion. Coterra Energy had a net margin of 23.18% and a return on equity of 10.48%. The company’s quarterly revenue was up 7.3% year over year. In the same period last year, the firm earned $0.38 per share. Sell-side analysts predict that Coterra Energy Inc. will post 1.74 earnings per share for the current year.

Coterra Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 29th. Stockholders of record on Thursday, August 15th were paid a $0.21 dividend. The ex-dividend date was Thursday, August 15. This represents a dividend of $0.84 on an annualized basis and a dividend yield of 3.64%. Coterra Energy’s dividend payout ratio (DPR) is currently 48.55%.

Coterra Energy Company Profile

(Free Report)

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 play’s dry gas window located in Susquehanna County, Pennsylvania; Permian Basin properties of approximately 296,000 net acres located in West Texas and Southeastern New Mexico; and Anadarko Basin properties with approximately 182,000 net acres located in Oklahoma.

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