Victory Capital Management Inc. Purchases 195,966 Shares of Coterra Energy Inc. (NYSE:CTRA)

Victory Capital Management Inc. increased its holdings in shares of Coterra Energy Inc. (NYSE:CTRA) by 1.2% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 16,963,084 shares of the company’s stock after purchasing an additional 195,966 shares during the period. Victory Capital Management Inc.’s holdings in Coterra Energy were worth $406,266,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of CTRA. Fifth Third Bancorp grew its holdings in shares of Coterra Energy by 0.6% during the second quarter. Fifth Third Bancorp now owns 71,138 shares of the company’s stock valued at $1,897,000 after buying an additional 399 shares during the last quarter. TCW Group Inc. raised its stake in shares of Coterra Energy by 4.0% in the second quarter. TCW Group Inc. now owns 10,447 shares of the company’s stock worth $279,000 after purchasing an additional 404 shares during the last quarter. Cornercap Investment Counsel Inc. lifted its holdings in shares of Coterra Energy by 0.7% in the second quarter. Cornercap Investment Counsel Inc. now owns 66,280 shares of the company’s stock valued at $1,768,000 after purchasing an additional 436 shares in the last quarter. Bruce G. Allen Investments LLC boosted its position in shares of Coterra Energy by 17.4% during the third quarter. Bruce G. Allen Investments LLC now owns 3,033 shares of the company’s stock valued at $73,000 after buying an additional 450 shares during the last quarter. Finally, Venturi Wealth Management LLC grew its holdings in Coterra Energy by 1.4% during the third quarter. Venturi Wealth Management LLC now owns 33,559 shares of the company’s stock worth $804,000 after buying an additional 474 shares in the last quarter. Institutional investors own 87.92% of the company’s stock.

Coterra Energy Price Performance

Coterra Energy stock traded down $0.03 during midday trading on Tuesday, reaching $25.38. The company’s stock had a trading volume of 1,322,729 shares, compared to its average volume of 6,217,110. The stock’s 50 day simple moving average is $23.77 and its 200 day simple moving average is $25.54. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.38 and a current ratio of 1.61. The firm has a market capitalization of $18.70 billion, a PE ratio of 15.31, a P/E/G ratio of 1.59 and a beta of 0.22. Coterra Energy Inc. has a fifty-two week low of $22.30 and a fifty-two week high of $28.90.

Coterra Energy (NYSE:CTRA) last announced its earnings results on Thursday, October 31st. The company reported $0.32 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.03). The business had revenue of $1.36 billion for 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 firm’s revenue was up .2% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.47 earnings per share. On average, equities research analysts forecast that Coterra Energy Inc. will post 1.54 earnings per share for the current year.

Coterra Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 27th. Investors of record on Thursday, November 14th will be given a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a yield of 3.31%. The ex-dividend date is Thursday, November 14th. Coterra Energy’s payout ratio is 50.60%.

Analysts Set New Price Targets

CTRA has been the topic of several analyst reports. Susquehanna cut their price target on shares of Coterra Energy from $33.00 to $30.00 and set a “positive” rating on the stock in a report on Wednesday, September 4th. Roth Capital raised Coterra Energy from a “hold” rating to a “strong-buy” rating in a report on Tuesday, August 27th. Stephens raised their price target on Coterra Energy from $28.00 to $29.00 and gave the stock an “overweight” rating in a report on Friday, November 1st. Truist Financial decreased their price objective on Coterra Energy from $34.00 to $31.00 and set a “buy” rating on the stock in a research note on Monday, September 30th. Finally, Wolfe Research began coverage on Coterra Energy in a research note on Thursday, July 18th. They issued an “outperform” rating and a $35.00 target price for the company. Two equities research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $31.29.

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.