Coterra Energy Inc. $CTRA Shares Sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp lowered its holdings in Coterra Energy Inc. (NYSE:CTRA) by 3.0% during the second quarter, according to the company in its most recent filing with the SEC. The fund owned 5,124,402 shares of the company’s stock after selling 156,766 shares during the quarter. Bank of New York Mellon Corp’s holdings in Coterra Energy were worth $130,057,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Cornerstone Planning Group LLC lifted its stake in Coterra Energy by 175.6% during the first quarter. Cornerstone Planning Group LLC now owns 871 shares of the company’s stock worth $25,000 after purchasing an additional 555 shares during the last quarter. Bogart Wealth LLC acquired a new stake in Coterra Energy during the second quarter worth approximately $26,000. REAP Financial Group LLC lifted its position in shares of Coterra Energy by 190.1% during the 2nd quarter. REAP Financial Group LLC now owns 1,108 shares of the company’s stock worth $28,000 after buying an additional 726 shares during the last quarter. Banque Cantonale Vaudoise acquired a new position in shares of Coterra Energy in the 1st quarter valued at $29,000. Finally, TCTC Holdings LLC grew its position in shares of Coterra Energy by 51.0% in the 1st quarter. TCTC Holdings LLC now owns 1,771 shares of the company’s stock valued at $51,000 after buying an additional 598 shares during the last quarter. Institutional investors and hedge funds own 87.92% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on CTRA. Zacks Research cut shares of Coterra Energy from a “hold” rating to a “strong sell” rating in a research report on Monday, October 13th. Piper Sandler reduced their target price on Coterra Energy from $39.00 to $38.00 and set an “overweight” rating for the company in a report on Tuesday, October 21st. JPMorgan Chase & Co. raised their price target on Coterra Energy from $33.00 to $35.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 7th. Roth Capital reaffirmed a “buy” rating and set a $27.00 price target on shares of Coterra Energy in a research report on Tuesday. Finally, Barclays decreased their price objective on Coterra Energy from $37.00 to $35.00 and set an “overweight” rating for the company in a report on Tuesday, October 7th. Sixteen analysts have rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $32.35.

Coterra Energy Stock Performance

Shares of CTRA stock opened at $26.36 on Friday. The stock’s 50-day moving average price is $23.88 and its 200 day moving average price is $24.44. The company has a quick ratio of 1.08, a current ratio of 1.13 and a debt-to-equity ratio of 0.29. The stock has a market capitalization of $20.12 billion, a PE ratio of 12.61, a price-to-earnings-growth ratio of 0.36 and a beta of 0.30. Coterra Energy Inc. has a 52-week low of $22.33 and a 52-week high of $29.95.

Coterra Energy (NYSE:CTRA) last posted its quarterly earnings data on Monday, November 3rd. The company reported $0.41 earnings per share for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.02). The company had revenue of $558.00 million for the quarter, compared to analyst estimates of $1.83 billion. Coterra Energy had a return on equity of 10.99% and a net margin of 23.80%.The firm’s revenue was up 33.7% compared to the same quarter last year. During the same period in the previous year, the business posted $0.32 earnings per share. As a group, equities research analysts forecast that Coterra Energy Inc. will post 1.54 EPS for the current year.

Coterra Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 26th. Shareholders of record on Thursday, November 13th will be paid a $0.22 dividend. This represents a $0.88 annualized dividend and a yield of 3.3%. The ex-dividend date of this dividend is Thursday, November 13th. Coterra Energy’s payout ratio is currently 40.55%.

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.