Viking Fund Management LLC Acquires 15,000 Shares of Coterra Energy Inc. (NYSE:CTRA)

Viking Fund Management LLC raised its stake in Coterra Energy Inc. (NYSE:CTRA) by 27.3% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 70,000 shares of the company’s stock after purchasing 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 hedge funds also recently modified their holdings of the company. Vanguard Group Inc. raised its holdings in shares of Coterra Energy by 0.5% in the 4th quarter. Vanguard Group Inc. now owns 87,927,114 shares of the company’s stock worth $2,243,900,000 after purchasing an additional 407,244 shares during the period. Dimensional Fund Advisors LP boosted its position in Coterra Energy by 8.8% during the fourth quarter. Dimensional Fund Advisors LP now owns 10,465,383 shares of the company’s stock worth $267,089,000 after purchasing an additional 848,519 shares during the period. Morgan Stanley increased its stake in shares of Coterra Energy by 5.9% in the third quarter. Morgan Stanley now owns 8,421,481 shares of the company’s stock worth $227,801,000 after purchasing an additional 466,511 shares in the last quarter. Schroder Investment Management Group raised its position in shares of Coterra Energy by 8.7% in the fourth quarter. Schroder Investment Management Group now owns 7,815,648 shares of the company’s stock valued at $199,455,000 after purchasing an additional 628,132 shares during the period. Finally, Royal Bank of Canada lifted its stake in shares of Coterra Energy by 9.8% during the 3rd quarter. Royal Bank of Canada now owns 3,336,830 shares of the company’s stock valued at $90,261,000 after buying an additional 296,676 shares in the last quarter. Hedge funds and other institutional investors own 87.92% of the company’s stock.

Coterra Energy Trading Down 1.0 %

NYSE:CTRA traded down $0.26 during trading hours on Thursday, hitting $26.89. The company had a trading volume of 2,942,329 shares, compared to its average volume of 6,614,744. 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 52 week low of $23.73 and a 52 week high of $29.89. The company has a market capitalization of $20.01 billion, a PE ratio of 15.70, a price-to-earnings-growth ratio of 1.28 and a beta of 0.21. The stock has a 50-day moving average price of $27.68 and a 200 day moving average price of $26.55.

Coterra Energy (NYSE:CTRA) last announced its earnings results on Thursday, May 2nd. The company reported $0.50 earnings per share for the quarter, beating analysts’ consensus estimates of $0.41 by $0.09. Coterra Energy had a net margin of 23.34% and a return on equity of 10.75%. The firm had revenue of $1.43 billion for the quarter, compared to analyst estimates of $1.38 billion. On average, equities research analysts predict that Coterra Energy Inc. will post 2 EPS for the current fiscal year.

Coterra Energy Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, May 30th. Stockholders of record on Thursday, May 16th were given a $0.21 dividend. This represents a $0.84 annualized dividend and a dividend yield of 3.12%. The ex-dividend date of this dividend was Wednesday, May 15th. Coterra Energy’s dividend payout ratio is currently 48.55%.

Wall Street Analysts Forecast Growth

CTRA has been the subject of several analyst reports. Morgan Stanley raised their price target 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. 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 upgraded Coterra Energy from a “hold” rating to a “buy” rating and lifted their price target for the company from $27.00 to $35.00 in a research report on Thursday, May 16th. Susquehanna upped their price objective on shares of Coterra Energy from $32.00 to $33.00 and gave the stock a “positive” rating in a research report on Tuesday, May 7th. Finally, Scotiabank lifted their target price on shares of Coterra Energy from $31.00 to $35.00 and gave the company a “sector outperform” rating in a research report on Thursday, April 11th. One equities research analyst has rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat.com, Coterra Energy currently has a consensus rating of “Moderate Buy” and an average price target of $33.93.

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.