Empirical Finance LLC Acquires 642 Shares of Coterra Energy Inc. (NYSE:CTRA)

Empirical Finance LLC boosted its holdings in shares of Coterra Energy Inc. (NYSE:CTRA) by 1.6% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 41,259 shares of the company’s stock after purchasing an additional 642 shares during the quarter. Empirical Finance LLC’s holdings in Coterra Energy were worth $988,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in CTRA. Victory Capital Management Inc. grew its holdings in Coterra Energy by 1.2% during the 3rd quarter. Victory Capital Management Inc. now owns 16,963,084 shares of the company’s stock valued at $406,266,000 after buying an additional 195,966 shares in the last quarter. King Luther Capital Management Corp grew its stake in Coterra Energy by 4.4% during the second quarter. King Luther Capital Management Corp now owns 6,783,690 shares of the company’s stock valued at $180,921,000 after acquiring an additional 285,774 shares in the last quarter. Disciplined Growth Investors Inc. MN increased its holdings in 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 valued at $135,055,000 after acquiring an additional 51,249 shares during the last quarter. American Century Companies Inc. lifted its stake in Coterra Energy by 29.1% in the 2nd 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 in the last quarter. Finally, Equity Investment Corp boosted its holdings in shares of Coterra Energy by 0.7% during the 2nd 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. 87.92% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the company. Mizuho lifted their target price on Coterra Energy from $36.00 to $37.00 and gave the stock an “outperform” rating in a report on Friday, November 1st. UBS Group lifted their price objective on Coterra Energy from $31.00 to $35.00 and gave the stock a “buy” rating in a research note on Friday. Scotiabank lowered 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. Morgan Stanley boosted their price target on shares of Coterra Energy from $27.00 to $29.00 and gave the stock an “equal weight” rating in a research report on Thursday. Finally, Wells Fargo & Company upped their price target on shares of Coterra Energy from $32.00 to $35.00 and gave the company an “overweight” rating in a research note on Friday. Two investment analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $32.41.

Coterra Energy Stock Performance

Shares of Coterra Energy stock opened at $25.58 on Friday. Coterra Energy Inc. has a 52 week low of $22.30 and a 52 week high of $28.90. The company has a market capitalization of $18.84 billion, a PE ratio of 15.41, a price-to-earnings-growth ratio of 1.67 and a beta of 0.22. The stock’s fifty day moving average is $23.95 and its two-hundred day moving average is $25.46. 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 posted its quarterly 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). The company had revenue of $1.36 billion during the quarter, compared to analysts’ expectations of $1.28 billion. Coterra Energy had a return on equity of 9.38% and a net margin of 21.91%. The company’s quarterly revenue was up .2% on a year-over-year basis. During the same period in the prior year, the business earned $0.47 EPS. As a group, analysts expect that Coterra Energy Inc. will post 1.53 earnings per share for the current year.

Coterra Energy Announces Dividend

The company also recently declared 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 is Thursday, November 14th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 3.28%. Coterra Energy’s payout ratio is 50.60%.

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.