Ethic Inc. Buys Shares of 33,233 Coterra Energy Inc. $CTRA

Ethic Inc. bought a new stake in Coterra Energy Inc. (NYSE:CTRA) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 33,233 shares of the company’s stock, valued at approximately $875,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. MGO One Seven LLC grew its stake in Coterra Energy by 18.0% in the fourth quarter. MGO One Seven LLC now owns 42,416 shares of the company’s stock valued at $1,116,000 after purchasing an additional 6,463 shares in the last quarter. Crestwood Advisors Group LLC purchased a new position in Coterra Energy in the fourth quarter valued at about $234,000. Sequoia Financial Advisors LLC grew its stake in Coterra Energy by 28.5% in the fourth quarter. Sequoia Financial Advisors LLC now owns 27,838 shares of the company’s stock valued at $733,000 after purchasing an additional 6,168 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. grew its stake in Coterra Energy by 1.8% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 1,611,097 shares of the company’s stock valued at $42,855,000 after purchasing an additional 28,460 shares in the last quarter. Finally, SBI Securities Co. Ltd. grew its stake in Coterra Energy by 59.7% in the fourth quarter. SBI Securities Co. Ltd. now owns 8,430 shares of the company’s stock valued at $222,000 after purchasing an additional 3,151 shares in the last quarter. Hedge funds and other institutional investors own 87.92% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have commented on CTRA shares. Raymond James Financial boosted their target price on Coterra Energy from $34.00 to $41.00 in a research note on Monday, March 9th. Scotiabank upped their price target on Coterra Energy from $31.00 to $32.00 and gave the stock a “sector perform” rating in a research note on Wednesday, April 22nd. Mizuho upped their price target on Coterra Energy from $36.00 to $43.00 and gave the stock an “outperform” rating in a research note on Tuesday, March 17th. Citigroup upped their price target on Coterra Energy from $32.00 to $42.00 and gave the stock a “buy” rating in a research note on Monday, March 30th. Finally, Texas Capital downgraded Coterra Energy from a “strong-buy” rating to a “hold” rating in a research note on Monday, March 9th. One research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and nine have given a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $37.32.

Coterra Energy Stock Performance

CTRA opened at $32.25 on Friday. The company has a market cap of $24.49 billion, a PE ratio of 14.15, a price-to-earnings-growth ratio of 0.48 and a beta of 0.32. The stock has a 50-day moving average of $33.23 and a 200-day moving average of $29.28. Coterra Energy Inc. has a 52-week low of $22.33 and a 52-week high of $36.88. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.16 and a current ratio of 1.19.

Coterra Energy (NYSE:CTRA) last released its quarterly earnings results on Monday, May 4th. The company reported $0.61 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.89 by ($0.28). Coterra Energy had a return on equity of 10.43% and a net margin of 22.46%.The company had revenue of $1.95 billion for the quarter, compared to the consensus estimate of $2.25 billion. As a group, equities research analysts forecast that Coterra Energy Inc. will post 2.87 earnings per share for the current fiscal year.

Coterra Energy Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 25th. Investors of record on Wednesday, March 11th were paid a dividend of $0.22 per share. The ex-dividend date was Wednesday, March 11th. This represents a $0.88 annualized dividend and a yield of 2.7%. Coterra Energy’s dividend payout ratio is presently 38.60%.

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.