Aigen Investment Management LP Purchases Shares of 15,696 Coterra Energy Inc. (NYSE:CTRA)

Aigen Investment Management LP 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 SEC. The fund acquired 15,696 shares of the company’s stock, valued at approximately $376,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. King Luther Capital Management Corp grew its position in Coterra Energy by 4.4% in the second quarter. King Luther Capital Management Corp now owns 6,783,690 shares of the company’s stock worth $180,921,000 after buying an additional 285,774 shares during the last quarter. Disciplined Growth Investors Inc. MN grew its holdings in shares of Coterra Energy by 1.0% in the 2nd quarter. Disciplined Growth Investors Inc. MN now owns 5,063,920 shares of the company’s stock worth $135,055,000 after acquiring an additional 51,249 shares during the last quarter. American Century Companies Inc. raised its position in shares of Coterra Energy by 29.1% during the second quarter. American Century Companies Inc. now owns 4,498,227 shares of the company’s stock worth $119,968,000 after purchasing an additional 1,013,107 shares during the period. Equity Investment Corp lifted its holdings in shares of Coterra Energy by 0.7% during the second quarter. Equity Investment Corp now owns 3,227,678 shares of the company’s stock valued at $86,082,000 after purchasing an additional 22,017 shares during the last quarter. Finally, Captrust Financial Advisors boosted its position in shares of Coterra Energy by 4.6% in the 1st quarter. Captrust Financial Advisors now owns 2,952,024 shares of the company’s stock valued at $78,422,000 after purchasing an additional 128,720 shares during the period. 87.92% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

CTRA has been the subject of a number of analyst reports. Truist Financial upped their price objective on shares of Coterra Energy from $31.00 to $33.00 and gave the company a “buy” rating in a research note on Thursday. Susquehanna upped their price target on shares of Coterra Energy from $30.00 to $33.00 and gave the company a “positive” rating in a research report on Thursday. Wells Fargo & Company lowered their price objective on shares of Coterra Energy from $34.00 to $32.00 and set an “overweight” rating on the stock in a research report on Tuesday, October 1st. Barclays boosted their target price on shares of Coterra Energy from $31.00 to $33.00 and gave the company an “overweight” rating in a research note on Thursday. Finally, Scotiabank decreased their target price on Coterra Energy from $35.00 to $32.00 and set a “sector outperform” rating for the company in a research report on Thursday, October 10th. 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 company’s stock. Based on data from MarketBeat, Coterra Energy has an average rating of “Moderate Buy” and an average target price of $32.00.

Coterra Energy Stock Performance

CTRA stock opened at $25.44 on Friday. The company has a market capitalization of $18.74 billion, a price-to-earnings ratio of 15.32, a P/E/G ratio of 1.64 and a beta of 0.22. The firm has a 50 day moving average of $23.86 and a two-hundred day moving average of $25.50. 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 Inc. has a 12 month low of $22.30 and a 12 month high of $28.90.

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

Coterra Energy Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 27th. Investors of record on Thursday, November 14th will be issued a $0.21 dividend. The ex-dividend date of this dividend is Thursday, November 14th. This represents a $0.84 annualized dividend and a yield of 3.30%. Coterra Energy’s dividend payout ratio (DPR) is currently 50.60%.

Coterra Energy 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.