Nordea Investment Management AB Acquires 17,373 Shares of Coterra Energy Inc. $CTRA

Nordea Investment Management AB increased its holdings in shares of Coterra Energy Inc. (NYSE:CTRA) by 43.2% during the 2nd quarter, HoldingsChannel reports. The fund owned 57,542 shares of the company’s stock after buying an additional 17,373 shares during the period. Nordea Investment Management AB’s holdings in Coterra Energy were worth $1,468,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Cornerstone Planning Group LLC boosted its stake in Coterra Energy by 175.6% during the first quarter. Cornerstone Planning Group LLC now owns 871 shares of the company’s stock worth $25,000 after acquiring an additional 555 shares in the last quarter. Raleigh Capital Management Inc. boosted its stake in Coterra Energy by 463.5% during the first quarter. Raleigh Capital Management Inc. now owns 896 shares of the company’s stock worth $26,000 after acquiring an additional 737 shares in the last quarter. REAP Financial Group LLC boosted its stake in Coterra Energy by 190.1% during the second quarter. REAP Financial Group LLC now owns 1,108 shares of the company’s stock worth $28,000 after acquiring an additional 726 shares in the last quarter. Banque Cantonale Vaudoise bought a new stake in Coterra Energy during the first quarter worth about $29,000. Finally, Wayfinding Financial LLC bought a new stake in Coterra Energy during the first quarter worth about $34,000. Institutional investors own 87.92% of the company’s stock.

Coterra Energy Stock Up 1.9%

CTRA opened at $23.75 on Friday. The company has a quick ratio of 1.08, a current ratio of 1.13 and a debt-to-equity ratio of 0.29. The firm has a 50 day moving average price of $23.75 and a 200-day moving average price of $24.52. Coterra Energy Inc. has a twelve month low of $22.33 and a twelve month high of $29.95. The stock has a market capitalization of $18.12 billion, a price-to-earnings ratio of 11.36, a PEG ratio of 0.36 and a beta of 0.29.

Coterra Energy (NYSE:CTRA) last released its quarterly earnings data on Monday, August 4th. The company reported $0.48 earnings per share for the quarter, missing the consensus estimate of $0.50 by ($0.02). Coterra Energy had a net margin of 23.80% and a return on equity of 10.99%. The company had revenue of $1.97 billion for the quarter, compared to analysts’ expectations of $1.78 billion. During the same period in the previous year, the firm earned $0.37 earnings per share. The firm’s revenue for the quarter was up 54.6% on a year-over-year basis. Equities research analysts forecast that Coterra Energy Inc. will post 1.54 earnings per share for the current year.

Coterra Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 28th. Stockholders of record on Thursday, August 14th were issued a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a dividend yield of 3.7%. The ex-dividend date of this dividend was Thursday, August 14th. Coterra Energy’s payout ratio is presently 42.11%.

Wall Street Analyst Weigh In

Several research firms recently commented on CTRA. Morgan Stanley dropped their price objective on shares of Coterra Energy from $29.00 to $28.00 and set an “equal weight” rating on the stock in a research note on Tuesday, October 14th. Wells Fargo & Company lifted their target price on shares of Coterra Energy from $32.00 to $33.00 and gave the stock an “overweight” rating in a report on Thursday, August 14th. Barclays decreased their target price on shares of Coterra Energy from $37.00 to $35.00 and set an “overweight” rating for the company in a report on Tuesday, October 7th. Stephens decreased their target price on shares of Coterra Energy from $34.00 to $33.00 and set an “overweight” rating for the company in a report on Tuesday. Finally, Piper Sandler decreased their target price on shares of Coterra Energy from $39.00 to $38.00 and set an “overweight” rating for the company in a report on Tuesday. Sixteen analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $32.60.

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.