Nicollet Investment Management Inc. Purchases 745 Shares of Coterra Energy Inc. (NYSE:CTRA)

Nicollet Investment Management Inc. lifted its holdings in Coterra Energy Inc. (NYSE:CTRA) by 2.2% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 33,869 shares of the company’s stock after acquiring an additional 745 shares during the period. Nicollet Investment Management Inc.’s holdings in Coterra Energy were worth $811,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Victory Capital Management Inc. increased its holdings in Coterra Energy by 1.2% in the third quarter. Victory Capital Management Inc. now owns 16,963,084 shares of the company’s stock worth $406,266,000 after purchasing an additional 195,966 shares in the last quarter. King Luther Capital Management Corp grew its position in shares of Coterra Energy by 4.4% during the 2nd quarter. King Luther Capital Management Corp now owns 6,783,690 shares of the company’s stock worth $180,921,000 after buying an additional 285,774 shares during the period. Disciplined Growth Investors Inc. MN increased its stake in shares of Coterra Energy by 1.0% in the 2nd quarter. Disciplined Growth Investors Inc. MN now owns 5,063,920 shares of the company’s stock valued at $135,055,000 after acquiring an additional 51,249 shares in the last quarter. American Century Companies Inc. lifted its position in shares of Coterra Energy by 29.1% during the 2nd quarter. American Century Companies Inc. now owns 4,498,227 shares of the company’s stock valued at $119,968,000 after acquiring an additional 1,013,107 shares during the period. Finally, Equity Investment Corp boosted its stake in Coterra Energy by 0.7% during the second quarter. Equity Investment Corp now owns 3,227,678 shares of the company’s stock worth $86,082,000 after acquiring an additional 22,017 shares in the last quarter. 87.92% of the stock is owned by institutional investors and hedge funds.

Coterra Energy Price Performance

CTRA opened at $25.55 on Friday. The firm has a 50-day moving average price of $23.95 and a 200-day moving average price of $25.48. Coterra Energy Inc. has a twelve month low of $22.30 and a twelve month high of $28.90. The company has a quick ratio of 1.56, a current ratio of 1.61 and a debt-to-equity ratio of 0.16. The company has a market capitalization of $18.82 billion, a price-to-earnings ratio of 15.39, a PEG ratio of 1.67 and a beta of 0.22.

Coterra Energy (NYSE:CTRA) last released its quarterly earnings data on Thursday, October 31st. The company reported $0.32 earnings per share for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.03). Coterra Energy had a net margin of 21.91% and a return on equity of 9.38%. The business had revenue of $1.36 billion during the quarter, compared to analysts’ expectations of $1.28 billion. During the same quarter in the prior year, the firm posted $0.47 earnings per share. The firm’s quarterly revenue was up .2% on a year-over-year basis. Equities analysts expect that Coterra Energy Inc. will post 1.53 EPS for the current year.

Coterra Energy Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 27th. Shareholders of record on Thursday, November 14th will be paid a $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 3.29%. The ex-dividend date is Thursday, November 14th. Coterra Energy’s dividend payout ratio is presently 50.60%.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the company. Roth Mkm upgraded Coterra Energy from a “neutral” rating to a “buy” rating and raised their target price for the company from $25.00 to $29.00 in a research note on Tuesday, August 27th. Barclays boosted their price objective on Coterra Energy from $31.00 to $33.00 and gave the company an “overweight” rating in a report on Thursday. UBS Group lifted their price objective on shares of Coterra Energy from $31.00 to $35.00 and gave the company a “buy” rating in a report on Friday. Susquehanna upped their target price on Coterra Energy from $30.00 to $33.00 and gave the company a “positive” rating in a report on Thursday. Finally, Roth Capital upgraded Coterra Energy from a “hold” rating to a “strong-buy” rating in a report on Tuesday, August 27th. Two analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Coterra Energy has a consensus rating of “Moderate Buy” and a consensus target price of $32.41.

Coterra Energy 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.