Coterra Energy Inc. $CTRA Shares Purchased by Comerica Bank

Comerica Bank boosted its holdings in Coterra Energy Inc. (NYSE:CTRA) by 1.7% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 132,730 shares of the company’s stock after acquiring an additional 2,190 shares during the quarter. Comerica Bank’s holdings in Coterra Energy were worth $3,836,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in CTRA. Wellington Management Group LLP increased its position in shares of Coterra Energy by 15.3% during the 1st quarter. Wellington Management Group LLP now owns 83,631,117 shares of the company’s stock valued at $2,416,939,000 after purchasing an additional 11,102,350 shares during the period. Vanguard Group Inc. increased its position in shares of Coterra Energy by 4.3% during the 1st quarter. Vanguard Group Inc. now owns 92,337,673 shares of the company’s stock valued at $2,668,559,000 after purchasing an additional 3,818,700 shares during the period. Pacer Advisors Inc. increased its position in shares of Coterra Energy by 5,145.4% during the 1st quarter. Pacer Advisors Inc. now owns 3,100,064 shares of the company’s stock valued at $89,592,000 after purchasing an additional 3,040,963 shares during the period. Zurich Insurance Group Ltd FI acquired a new position in shares of Coterra Energy during the 4th quarter valued at $57,877,000. Finally, Nuveen LLC acquired a new position in shares of Coterra Energy during the 1st quarter valued at $64,173,000. 87.92% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several brokerages have recently issued reports on CTRA. The Goldman Sachs Group reiterated a “neutral” rating and set a $31.00 price target on shares of Coterra Energy in a research report on Tuesday, July 1st. Mizuho lowered their price target on Coterra Energy from $38.00 to $36.00 and set an “outperform” rating on the stock in a research report on Tuesday, May 13th. Pickering Energy Partners cut Coterra Energy from an “outperform” rating to a “neutral” rating in a research report on Tuesday, May 20th. UBS Group reduced their price objective on Coterra Energy from $32.00 to $30.00 and set a “buy” rating for the company in a research note on Friday, May 9th. Finally, Piper Sandler raised their price objective on Coterra Energy from $37.00 to $39.00 and gave the stock an “overweight” rating in a research note on Thursday, August 14th. Fourteen investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $33.61.

Coterra Energy Stock Performance

Shares of Coterra Energy stock opened at $24.44 on Friday. The stock has a market cap of $18.65 billion, a PE ratio of 11.69, a price-to-earnings-growth ratio of 0.33 and a beta of 0.33. The business has a fifty day simple moving average of $24.43 and a 200-day simple moving average of $25.56. The company has a quick ratio of 1.08, a current ratio of 1.13 and a debt-to-equity ratio of 0.29. Coterra Energy Inc. has a 12 month low of $22.30 and a 12 month high of $29.95.

Coterra Energy (NYSE:CTRA) last released its quarterly earnings data on Monday, August 4th. The company reported $0.48 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.50 by ($0.02). The firm had revenue of $1.97 billion for the quarter, compared to analyst estimates of $1.78 billion. Coterra Energy had a net margin of 23.80% and a return on equity of 10.99%. Coterra Energy’s revenue for the quarter was up 54.6% on a year-over-year basis. During the same period in the previous year, the business posted $0.37 EPS. On average, sell-side analysts anticipate that Coterra Energy Inc. will post 1.54 EPS for the current fiscal year.

Coterra Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 28th. Investors of record on Thursday, August 14th were given a dividend of $0.22 per share. The ex-dividend date of this dividend was Thursday, August 14th. This represents a $0.88 dividend on an annualized basis and a yield of 3.6%. Coterra Energy’s dividend payout ratio (DPR) is presently 42.11%.

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.