M&G Plc Makes New $12 Million Investment in Coterra Energy Inc. (NYSE:CTRA)

M&G Plc purchased a new stake in shares of Coterra Energy Inc. (NYSE:CTRA) in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 428,486 shares of the company’s stock, valued at approximately $11,998,000.

Other institutional investors have also made changes to their positions in the company. Wetzel Investment Advisors Inc. acquired a new stake in shares of Coterra Energy during the fourth quarter valued at about $33,000. Tennessee Valley Asset Management Partners acquired a new stake in shares of Coterra Energy during the fourth quarter valued at about $33,000. Headlands Technologies LLC increased its position in shares of Coterra Energy by 397.7% during the fourth quarter. Headlands Technologies LLC now owns 1,742 shares of the company’s stock valued at $44,000 after acquiring an additional 1,392 shares during the last quarter. Central Pacific Bank Trust Division acquired a new stake in shares of Coterra Energy during the first quarter valued at about $44,000. Finally, Harbor Investment Advisory LLC increased its position in shares of Coterra Energy by 869.3% during the first quarter. Harbor Investment Advisory LLC now owns 1,609 shares of the company’s stock valued at $45,000 after acquiring an additional 1,443 shares during the last quarter. 87.92% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

CTRA has been the subject of a number of recent analyst reports. Mizuho lifted their price target on shares of Coterra Energy from $37.00 to $41.00 and gave the company a “buy” rating in a research report on Monday, May 13th. Morgan Stanley lifted their price objective on shares of Coterra Energy from $26.00 to $29.00 and gave the company an “equal weight” rating in a report on Wednesday, April 17th. BMO Capital Markets upgraded shares of Coterra Energy to a “hold” rating in a report on Wednesday, July 3rd. Susquehanna lifted their price objective on shares of Coterra Energy from $32.00 to $33.00 and gave the company a “positive” rating in a report on Tuesday, May 7th. Finally, Wolfe Research initiated coverage on shares of Coterra Energy in a report on Thursday. They issued an “outperform” rating and a $35.00 price objective for the company. Two research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $34.00.

Coterra Energy Stock Down 1.1 %

Shares of NYSE:CTRA traded down $0.31 during trading on Friday, hitting $26.80. 4,790,891 shares of the company were exchanged, compared to its average volume of 5,978,679. The stock has a market capitalization of $19.95 billion, a P/E ratio of 15.49, a PEG ratio of 1.22 and a beta of 0.24. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.49 and a quick ratio of 1.46. Coterra Energy Inc. has a 12-month low of $23.73 and a 12-month high of $29.89. The firm’s 50 day moving average price is $27.30 and its 200-day moving average price is $26.71.

Coterra Energy (NYSE:CTRA) last issued its quarterly earnings data on Thursday, May 2nd. The company reported $0.50 earnings per share for the quarter, topping the consensus estimate of $0.41 by $0.09. The business had revenue of $1.43 billion during the quarter, compared to the consensus estimate of $1.38 billion. Coterra Energy had a net margin of 23.34% and a return on equity of 10.75%. On average, research analysts predict that Coterra Energy Inc. will post 2.06 earnings per share for the current fiscal year.

Coterra Energy Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 30th. Investors of record on Thursday, May 16th were given a $0.21 dividend. The ex-dividend date of this dividend was Wednesday, May 15th. This represents a $0.84 annualized dividend and a yield of 3.13%. Coterra Energy’s dividend payout ratio (DPR) is 48.55%.

Coterra Energy Company 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.