On September 14, 2023, it was reported that the Ontario Teachers Pension Plan Board had increased its stake in Coterra Energy Inc. (NYSE:CTRA) by 172.8% during the first quarter of the year. The institutional investor now owns a total of 91,021 shares in the company, acquired through the purchase of an additional 57,659 shares.
The value of Ontario Teachers Pension Plan Board’s holdings in Coterra Energy amounted to $2,234,000 at the end of the last quarter. This move showcases the institution’s confidence in the energy company and its potential for growth.
Coterra Energy recently declared its quarterly dividend on Thursday, August 31st. Shareholders on record as of Thursday, August 17th received a dividend of $0.20 per share. This translates to an annualized dividend of $0.80 with a yield of 2.83%. The ex-dividend date for this payment was Wednesday, August 16th.
Currently, Coterra Energy maintains a payout ratio of approximately 20.05%. This indicates that it distributes around one-fifth of its earnings as dividends to shareholders.
Investors should take note of these developments as they provide valuable insights into institutional investors’ strategies and their interpretation of company performance. For stakeholders in Coterra Energy, this news may be seen as a positive sign, reflecting increased interest from a reputable and influential institution such as Ontario Teachers Pension Plan Board.
As always, it is important for investors to conduct thorough research and analyze various factors before making any investment decisions based on these reports or dividend payouts alone.
Coterra Energy Inc.
CTRA
Buy
Updated on: 29/09/2023
Financial Health
Healthy
Debt to equity ratio: Buy
Price to earnings ratio: Buy
Price to book ratio: Strong Buy
DCF: Strong Buy
ROE: Neutral
Coterra Energy Shows Strong Financial Performance and Attracts Investor Interest in the Energy Sector
Coterra Energy, an energy company based in the United States, has recently seen a surge of interest from investors. Several large investors have been actively buying and selling shares of the company, leading to fluctuations in its stock value. For instance, Louisiana State Employees Retirement System increased its stake in Coterra Energy by 0.8% during the first quarter, adding an additional 400 shares to its portfolio. Similarly, Csenge Advisory Group and Quadrant Capital Group LLC also expanded their positions in the company during the same period.
Other institutional investors and hedge funds currently own approximately 90.54% of Coterra Energy’s stock, demonstrating the high level of investor interest in the company.
In terms of analyst evaluations, several experts have recently commented on the stock. UBS Group raised its price target on Coterra Energy from $25.00 to $33.00 and assigned a “neutral” rating to it. Stephens reiterated an “overweight” rating with a $32.00 price target for the company’s shares. Morgan Stanley also increased its price target on Coterra Energy from $26.00 to $27.00 and maintained an “equal weight” rating.
The consensus among analysts is that Coterra Energy’s stock is rated as “Hold” with a target price of around $31 per share, according to Bloomberg.com data.
On Thursday, September 14th, Coterra Energy’s stock opened at $28.31 per share on the New York Stock Exchange (NYSE). Over the past year, its share price has fluctuated between a low of $22.25 and a high of $32.47.
With a market capitalization of approximately $21.37 billion, Coterra Energy has proven itself as a major player in its industry sector. The company boasts favorable financial ratios including a modest price-to-earnings ratio of 7.09 and an impressive price-to-earnings-growth ratio of 0.23. Moreover, it has a beta value of 0.29, indicating a relatively low level of volatility compared to the overall market.
Coterra Energy maintains a strong financial position with a debt-to-equity ratio of 0.17 and healthy liquidity ratios, such as a quick ratio of 1.67 and a current ratio of 1.74.
In its recent quarterly earnings report, Coterra Energy exceeded expectations by reporting earnings per share of $0.38, surpassing the consensus estimate of $0.36 by $0.02. The company generated revenue of $1.19 billion during the same period, slightly lower than the consensus estimate of $1.28 billion.
With a net margin of 40.12% and a return on equity of 23.06%, Coterra Energy demonstrates strong profitability and efficient use of shareholder’s equity.
Analysts anticipate that Coterra Energy Inc. will post earnings per share of approximately $2.25 for the current fiscal year.
In conclusion, Coterra Energy has attracted significant interest from investors due to its solid financial performance and positive evaluations from industry experts. Its stock price has experienced fluctuations but remains within a reasonable range considering the company’s overall stability and growth potential in the energy sector.
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