Bridgewater Associates LP Has $31.05 Million Position in Coterra Energy Inc. (NYSE:CTRA)

Bridgewater Associates LP raised its position in Coterra Energy Inc. (NYSE:CTRA) by 38.2% in the 3rd quarter, Holdings Channel reports. The firm owned 1,296,246 shares of the company’s stock after buying an additional 358,382 shares during the period. Bridgewater Associates LP’s holdings in Coterra Energy were worth $31,045,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the company. Fifth Third Bancorp raised its position in Coterra Energy by 0.6% in the 2nd quarter. Fifth Third Bancorp now owns 71,138 shares of the company’s stock valued at $1,897,000 after buying an additional 399 shares during the last quarter. TCW Group Inc. lifted its position in shares of Coterra Energy by 4.0% in the second quarter. TCW Group Inc. now owns 10,447 shares of the company’s stock worth $279,000 after purchasing an additional 404 shares in the last quarter. Cornercap Investment Counsel Inc. lifted its position in shares of Coterra Energy by 0.7% in the second quarter. Cornercap Investment Counsel Inc. now owns 66,280 shares of the company’s stock worth $1,768,000 after purchasing an additional 436 shares in the last quarter. Bruce G. Allen Investments LLC grew its position in Coterra Energy by 17.4% in the third quarter. Bruce G. Allen Investments LLC now owns 3,033 shares of the company’s stock valued at $73,000 after purchasing an additional 450 shares in the last quarter. Finally, Venturi Wealth Management LLC increased its stake in Coterra Energy by 1.4% in the 3rd quarter. Venturi Wealth Management LLC now owns 33,559 shares of the company’s stock valued at $804,000 after buying an additional 474 shares during the last quarter. 87.92% of the stock is currently owned by institutional investors and hedge funds.

Coterra Energy Price Performance

Shares of Coterra Energy stock opened at $26.68 on Thursday. Coterra Energy Inc. has a twelve month low of $22.30 and a twelve month high of $28.90. The company has a 50-day simple moving average of $24.52 and a two-hundred day simple moving average of $25.39. The stock has a market capitalization of $19.65 billion, a price-to-earnings ratio of 16.07, a price-to-earnings-growth ratio of 1.75 and a beta of 0.22. The company has a quick ratio of 1.56, a current ratio of 1.61 and a debt-to-equity ratio of 0.16.

Coterra Energy (NYSE:CTRA) last released its earnings results on Thursday, October 31st. The company reported $0.32 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.35 by ($0.03). The company had revenue of $1.36 billion for the quarter, compared to analyst estimates of $1.28 billion. Coterra Energy had a return on equity of 9.38% and a net margin of 21.91%. The business’s revenue for the quarter was up .2% compared to the same quarter last year. During the same period last year, the company posted $0.47 earnings per share. Analysts forecast that Coterra Energy Inc. will post 1.53 EPS for the current year.

Coterra Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, November 27th. Shareholders of record on Thursday, November 14th were given a dividend of $0.21 per share. The ex-dividend date was Thursday, November 14th. This represents a $0.84 annualized dividend and a yield of 3.15%. Coterra Energy’s dividend payout ratio is currently 50.60%.

Analyst Ratings Changes

CTRA has been the subject of several analyst reports. Morgan Stanley raised their price objective on Coterra Energy from $27.00 to $29.00 and gave the company an “equal weight” rating in a report on Thursday, November 14th. Citigroup boosted their price target on Coterra Energy from $28.00 to $32.00 and gave the stock a “buy” rating in a research report on Tuesday. Stephens increased their price objective on Coterra Energy from $28.00 to $29.00 and gave the company an “overweight” rating in a report on Friday, November 1st. Roth Capital upgraded shares of Coterra Energy from a “hold” rating to a “strong-buy” rating in a report on Tuesday, August 27th. Finally, Barclays boosted their price objective on shares of Coterra Energy from $31.00 to $33.00 and gave the stock an “overweight” rating in a research note on Thursday, November 14th. Two investment analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $32.47.

Insiders Place Their Bets

In other Coterra Energy news, SVP Adam M. Vela sold 16,435 shares of the business’s stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of $26.76, for a total transaction of $439,800.60. Following the sale, the senior vice president now owns 72,409 shares of the company’s stock, valued at approximately $1,937,664.84. The trade was a 18.50 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 1.70% of the company’s stock.

About Coterra Energy

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.