Coterra Energy Inc. (NYSE:CTRA) Shares Bought by Viking Fund Management LLC

Viking Fund Management LLC boosted its position in shares of Coterra Energy Inc. (NYSE:CTRA) by 27.3% during the 1st quarter, HoldingsChannel reports. The institutional investor owned 70,000 shares of the company’s stock after acquiring an additional 15,000 shares during the quarter. Viking Fund Management LLC’s holdings in Coterra Energy were worth $1,952,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Significant Wealth Partners LLC acquired a new position in Coterra Energy during the fourth quarter worth $1,604,000. Robeco Institutional Asset Management B.V. raised its holdings in Coterra Energy by 172.6% during the fourth quarter. Robeco Institutional Asset Management B.V. now owns 726,123 shares of the company’s stock worth $18,531,000 after purchasing an additional 459,713 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund acquired a new position in shares of Coterra Energy during the 3rd quarter worth $1,461,000. KBC Group NV raised its position in Coterra Energy by 240.1% during the fourth quarter. KBC Group NV now owns 863,965 shares of the company’s stock worth $22,049,000 after acquiring an additional 609,954 shares during the last quarter. Finally, HITE Hedge Asset Management LLC purchased a new position in shares of Coterra Energy during the 4th quarter worth approximately $11,485,000. Hedge funds and other institutional investors own 87.92% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have commented on the company. Mizuho increased their target price on Coterra Energy from $37.00 to $41.00 and gave the company a “buy” rating in a report on Monday, May 13th. Piper Sandler raised their price target on shares of Coterra Energy from $37.00 to $39.00 and gave the stock an “overweight” rating in a research note on Tuesday, May 14th. Bank of America restated a “buy” rating and set a $34.00 target price on shares of Coterra Energy in a research report on Friday, June 14th. Truist Financial raised Coterra Energy from a “hold” rating to a “buy” rating and increased their price target for the stock from $27.00 to $35.00 in a research note on Thursday, May 16th. Finally, Susquehanna lifted their price objective on Coterra Energy from $32.00 to $33.00 and gave the company a “positive” rating in a research report on Tuesday, May 7th. One equities research analyst has rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $33.93.

Coterra Energy Stock Down 1.0 %

CTRA stock traded down $0.26 during midday trading on Thursday, hitting $26.89. 2,942,329 shares of the company’s stock were exchanged, compared to its average volume of 6,614,744. The stock has a market capitalization of $20.01 billion, a price-to-earnings ratio of 15.70, a price-to-earnings-growth ratio of 1.28 and a beta of 0.21. The company has a current ratio of 1.49, a quick ratio of 1.46 and a debt-to-equity ratio of 0.16. The firm has a 50 day moving average price of $27.68 and a 200-day moving average price of $26.55. Coterra Energy Inc. has a 12-month low of $23.73 and a 12-month high of $29.89.

Coterra Energy (NYSE:CTRA) last posted its quarterly earnings data on Thursday, May 2nd. The company reported $0.50 EPS for the quarter, beating analysts’ consensus estimates of $0.41 by $0.09. The firm had revenue of $1.43 billion for 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, analysts anticipate that Coterra Energy Inc. will post 2 EPS for the current year.

Coterra Energy Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, May 30th. Shareholders of record on Thursday, May 16th were paid a $0.21 dividend. The ex-dividend date of this dividend was Wednesday, May 15th. This represents a $0.84 dividend on an annualized basis and a yield of 3.12%. Coterra Energy’s payout ratio is currently 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.