Wellington Management Co. LLP recently announced the acquisition of new stake in Coterra Energy Inc. (NYSE:CTRA). The institutional investor has increased its shareholding in the Energy company by 28.93% to 79.9 million shares with purchase of 17.93 million shares. This fresh investment now brings its stake to 10.04% valued currently at $2.49 billion. In addition, SSgA Funds Management, Inc. raised its holdings by 0.31 million to 53.42 million shares. And BlackRock Fund Advisors has lifted its position by 6.33% or 2.94 million shares – to 49.38 million shares.
With over 13.21 million Coterra Energy Inc. (CTRA) shares trading Friday and a closing price of $26.60 on the day, the dollar volume was approximately $351.28 million. The shares have shown a negative half year performance of -10.13% and its price on 11/18/22 lost nearly -0.75%. Currently, there are 792.00M common shares owned by the public and among those 775.07M shares have been available to trade.
An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 25 analysts who have offered their price forecasts for CTRA have a consensus price objective of $35.96. The analysts have set the share’s price value over the next 12 months at a high of $48.00 and a low of $28.00. The average price target is 26.36% above its recent price level and an upside to the estimated low will see the stock gain 5.0% over that period. But an upside of 44.58% will see the stock hit the forecast high price target while median target price for the stock is $34.00.
Insiders at the company have transacted a total of 44 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 16 of these insider trades were purchases, accounting for 698,065 shares. Insider sales of the common stock occurred on 28 occasions, with total insider shares sold totaling 965,794 shares.
The top 3 mutual fund holders in Coterra Energy Inc. are SPDR Series – Energy Select Secto, Vanguard Total Stock Market Index, and Vanguard 500 Index Fund. SPDR Series – Energy Select Secto owns 23.27 million shares of the company’s stock, all valued at over $724.38 million. The company bought an additional 2446.0 shares recently to bring their total holdings to about 2.93% of the shares outstanding. Vanguard Total Stock Market Index bought 0.13 million shares to see its total holdings expand to 22.69 million shares valued at over $706.3 million and representing 2.85% of the shares outstanding. Vanguard 500 Index Fund bought 0.18 million shares to bring its total holdings to over 18.2 million shares at a value of $566.67 million. Vanguard 500 Index Fund now owns shares totaling to 2.29% of the shares outstanding.
Shares of Coterra Energy Inc. (NYSE: CTRA) opened at $26.20, down -$0.6 from a prior closing price of $26.80. However, the script later moved the day high at 26.78, down -0.75%. The company’s stock has a 5-day price change of -4.71% and -11.34% over the past three months. CTRA shares are trading 49.81% year to date (YTD), with the 12-month market performance up to 37.05% higher. It has a 12-month low price of $17.19 and touched a high of $35.25 over the same period. CTRA has an average intraday trading volume of 8.37 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by -7.28%, -6.16%, and -3.05% respectively.
Institutional ownership of Coterra Energy Inc. (NYSE: CTRA) shares accounts for 97.40% of the company’s 792.00M shares outstanding. Mutual fund holders own 35.67%, while other institutional holders and individual stakeholders account for 59.95% and 2.81% respectively.
It has a market capitalization of $21.13B and a beta (3y monthly) value of 0.22. The stock’s trailing 12-month PE ratio is 5.41, while the earnings-per-share (ttm) stands at $4.92. The company has a PEG of 0.64 and a Quick Ratio of 1.60 with the debt-to-equity ratio at 0.18. Price movements for the stock have been influenced by the stock’s volatility, which stands at 3.02% over the week and 3.56% over the month.
Analysts forecast that Coterra Energy Inc. (CTRA) will achieve an EPS of $1.38 for the current quarter, $1.31 for the next quarter and $4.32 for 2023. The lowest estimate earnings-per-share for the quarter is $1.28 while analysts give the company a high EPS estimate of $1.53. Comparatively, EPS for the current quarter was $0.52 a year ago. Earnings per share for the fiscal year are expected to increase by 358.90%, and -20.05% over the next financial year. EPS should shrink at an annualized rate of 8.47% over the next five years, compared to 35.20% over the past 5-year period.
Stifel coverage for the Coterra Energy Inc. (CTRA) stock in a research note released on October 25, 2022 offered a Buy rating with a price target of $40. Jefferies was of a view on October 19, 2022 that the stock is Hold, while MKM Partners gave the stock Neutral rating on July 20, 2022, issuing a price target of $26. Citigroup on their part issued Neutral rating on June 24, 2022.