PNC Financial Services Group Inc. Decreases Stock Holdings in Coterra Energy Inc. $CTRA

PNC Financial Services Group Inc. cut its holdings in Coterra Energy Inc. (NYSE:CTRA) by 0.7% in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 332,245 shares of the company’s stock after selling 2,244 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Coterra Energy were worth $8,432,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Hartford Funds Management Co LLC lifted its position in Coterra Energy by 1.4% during the first quarter. Hartford Funds Management Co LLC now owns 35,301 shares of the company’s stock valued at $1,020,000 after purchasing an additional 472 shares during the last quarter. Horizon Investments LLC raised its position in shares of Coterra Energy by 4.5% during the 1st quarter. Horizon Investments LLC now owns 10,935 shares of the company’s stock valued at $316,000 after buying an additional 474 shares in the last quarter. Argonautica Private Wealth Management Inc. lifted its holdings in shares of Coterra Energy by 4.0% in the 1st quarter. Argonautica Private Wealth Management Inc. now owns 12,282 shares of the company’s stock valued at $355,000 after acquiring an additional 477 shares during the last quarter. Wellington Shields Capital Management LLC grew its position in Coterra Energy by 5.4% in the second quarter. Wellington Shields Capital Management LLC now owns 9,725 shares of the company’s stock worth $247,000 after acquiring an additional 500 shares in the last quarter. Finally, Fifth Third Wealth Advisors LLC grew its position in Coterra Energy by 5.3% in the second quarter. Fifth Third Wealth Advisors LLC now owns 10,534 shares of the company’s stock worth $267,000 after acquiring an additional 533 shares in the last quarter. Institutional investors own 87.92% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have issued reports on CTRA. Wells Fargo & Company upped their price objective on Coterra Energy from $32.00 to $33.00 and gave the company an “overweight” rating in a research report on Thursday, August 14th. Barclays decreased their price target on Coterra Energy from $37.00 to $35.00 and set an “overweight” rating on the stock in a report on Tuesday, October 7th. Piper Sandler dropped their price objective on shares of Coterra Energy from $39.00 to $38.00 and set an “overweight” rating for the company in a research note on Tuesday, October 21st. Scotiabank cut their price objective on shares of Coterra Energy from $35.00 to $32.00 and set a “sector outperform” rating on the stock in a research report on Thursday, October 9th. Finally, Morgan Stanley lowered their target price on shares of Coterra Energy from $29.00 to $28.00 and set an “equal weight” rating for the company in a report on Tuesday, October 14th. Seventeen investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $32.43.

Coterra Energy Stock Performance

Shares of Coterra Energy stock opened at $26.34 on Friday. 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’s fifty day moving average is $24.12 and its two-hundred day moving average is $24.48. Coterra Energy Inc. has a 52 week low of $22.33 and a 52 week high of $29.95. The company has a market capitalization of $20.06 billion, a PE ratio of 12.60, a price-to-earnings-growth ratio of 0.36 and a beta of 0.30.

Coterra Energy (NYSE:CTRA) last issued its earnings results on Monday, November 3rd. The company reported $0.41 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.02). The company had revenue of $1.82 billion for the quarter, compared to analysts’ expectations of $1.83 billion. Coterra Energy had a net margin of 23.80% and a return on equity of 10.99%. The firm’s revenue for the quarter was up 33.7% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.32 earnings per share. As a group, analysts expect that Coterra Energy Inc. will post 1.54 earnings per share for the current year.

Coterra Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 26th. Shareholders of record on Thursday, November 13th will be given 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 40.55%.

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.