Panagora Asset Management Inc. Purchases 43,154 Shares of Coterra Energy Inc. $CTRA

Panagora Asset Management Inc. increased its position in Coterra Energy Inc. (NYSE:CTRA) by 225.0% during the second quarter, Holdings Channel.com reports. The institutional investor owned 62,336 shares of the company’s stock after purchasing an additional 43,154 shares during the period. Panagora Asset Management Inc.’s holdings in Coterra Energy were worth $1,582,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the company. Horizon Investments LLC increased its stake in Coterra Energy by 4.5% in the 1st quarter. Horizon Investments LLC now owns 10,935 shares of the company’s stock worth $316,000 after acquiring an additional 474 shares during the last quarter. Wellington Shields Capital Management LLC boosted its position in shares of Coterra Energy by 5.4% during the 2nd quarter. Wellington Shields Capital Management LLC now owns 9,725 shares of the company’s stock valued at $247,000 after acquiring an additional 500 shares during the last quarter. Elevation Point Wealth Partners LLC grew its holdings in shares of Coterra Energy by 1.1% in the second quarter. Elevation Point Wealth Partners LLC now owns 50,333 shares of the company’s stock valued at $1,277,000 after purchasing an additional 531 shares in the last quarter. Fifth Third Wealth Advisors LLC increased its position in Coterra Energy by 5.3% in the second quarter. Fifth Third Wealth Advisors LLC now owns 10,534 shares of the company’s stock worth $267,000 after purchasing an additional 533 shares during the last quarter. Finally, MassMutual Private Wealth & Trust FSB raised its stake in Coterra Energy by 26.1% during the second quarter. MassMutual Private Wealth & Trust FSB now owns 2,685 shares of the company’s stock valued at $68,000 after purchasing an additional 555 shares in the last quarter. Hedge funds and other institutional investors own 87.92% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on CTRA. Raymond James Financial lifted their price objective on shares of Coterra Energy from $28.00 to $31.00 and gave the stock an “outperform” rating in a research note on Monday, November 24th. Zacks Research raised shares of Coterra Energy from a “strong sell” rating to a “hold” rating in a report on Monday. Scotiabank dropped their price target 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 9th. Roth Capital reissued a “buy” rating and set a $27.00 price objective on shares of Coterra Energy in a research note on Tuesday, November 4th. Finally, JPMorgan Chase & Co. decreased their price objective on Coterra Energy from $35.00 to $34.00 and set an “overweight” rating on the stock in a research report on Wednesday, November 5th. Seventeen analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $32.86.

Coterra Energy Price Performance

CTRA stock opened at $27.34 on Friday. The stock has a market cap of $20.82 billion, a PE ratio of 12.60, a P/E/G ratio of 0.46 and a beta of 0.33. Coterra Energy Inc. has a 12 month low of $22.33 and a 12 month high of $29.95. The company has a 50-day moving average price of $24.79 and a 200 day moving average price of $24.68. The company has a current ratio of 1.02, a quick ratio of 0.98 and a debt-to-equity ratio of 0.25.

Coterra Energy (NYSE:CTRA) last announced its quarterly earnings data on Monday, November 3rd. The company reported $0.41 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.43 by ($0.02). Coterra Energy had a return on equity of 11.23% and a net margin of 23.25%.The firm had revenue of $1.82 billion during the quarter, compared to the consensus estimate of $1.83 billion. During the same period in the previous year, the business earned $0.32 EPS. The firm’s revenue for the quarter was up 33.7% on a year-over-year basis. Equities research analysts anticipate 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 was paid on Wednesday, November 26th. Investors of record on Thursday, November 13th were paid a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a dividend yield of 3.2%. The ex-dividend date of this dividend was Thursday, November 13th. Coterra Energy’s dividend payout ratio (DPR) is currently 40.55%.

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.