QRG Capital Management Inc. Raises Stock Holdings in Coterra Energy Inc. $CTRA

QRG Capital Management Inc. raised its position in shares of Coterra Energy Inc. (NYSE:CTRA) by 14.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 163,671 shares of the company’s stock after buying an additional 20,483 shares during the quarter. QRG Capital Management Inc.’s holdings in Coterra Energy were worth $4,308,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. GoalVest Advisory LLC purchased a new position in Coterra Energy during the 4th quarter valued at about $28,000. Winnow Wealth LLC purchased a new stake in Coterra Energy in the third quarter worth about $29,000. Atlantic Union Bankshares Corp purchased a new stake in Coterra Energy in the third quarter worth about $29,000. Triumph Capital Management bought a new position in shares of Coterra Energy during the third quarter valued at approximately $31,000. Finally, City Holding Co. lifted its holdings in shares of Coterra Energy by 144.4% during the fourth quarter. City Holding Co. now owns 1,222 shares of the company’s stock valued at $32,000 after purchasing an additional 722 shares during the last quarter. 87.92% of the stock is owned by hedge funds and other institutional investors.

Coterra Energy Trading Down 8.5%

NYSE:CTRA opened at $32.60 on Thursday. The stock has a market cap of $24.75 billion, a price-to-earnings ratio of 14.30, a PEG ratio of 0.52 and a beta of 0.32. The company has a quick ratio of 1.16, a current ratio of 1.19 and a debt-to-equity ratio of 0.24. The company’s 50 day moving average price is $33.02 and its 200-day moving average price is $28.91. Coterra Energy Inc. has a 52 week low of $22.33 and a 52 week high of $36.88.

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

Coterra Energy Dividend Announcement

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

Analysts Set New Price Targets

A number of analysts have recently commented on CTRA shares. Morgan Stanley boosted their price target on Coterra Energy from $28.00 to $42.00 and gave the stock an “equal weight” rating in a research report on Tuesday, April 28th. Jefferies Financial Group raised their price objective on Coterra Energy from $28.00 to $33.00 and gave the company a “hold” rating in a research report on Monday, April 13th. Weiss Ratings raised Coterra Energy from a “hold (c+)” rating to a “buy (b)” rating in a report on Monday, March 2nd. Roth Mkm increased their target price on Coterra Energy from $28.00 to $32.00 and gave the stock a “neutral” rating in a research note on Wednesday, April 15th. Finally, Capital One Financial raised their price target on Coterra Energy from $37.00 to $46.00 and gave the company an “overweight” rating in a report on Wednesday, March 25th. One analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and nine have assigned a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $37.32.

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.