Comerica Bank Boosts Position in Coterra Energy Inc. (NYSE:CTRA)

Comerica Bank increased its position in Coterra Energy Inc. (NYSE:CTRAGet Rating) by 4.2% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 109,106 shares of the company’s stock after purchasing an additional 4,380 shares during the period. Comerica Bank’s holdings in Coterra Energy were worth $3,304,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. International Assets Investment Management LLC grew its stake in Coterra Energy by 4.1% in the second quarter. International Assets Investment Management LLC now owns 8,777 shares of the company’s stock worth $226,000 after purchasing an additional 345 shares during the period. Montis Financial LLC grew its stake in Coterra Energy by 2.9% in the third quarter. Montis Financial LLC now owns 12,481 shares of the company’s stock worth $326,000 after purchasing an additional 356 shares during the period. Sky Investment Group LLC grew its stake in Coterra Energy by 4.8% in the second quarter. Sky Investment Group LLC now owns 8,809 shares of the company’s stock worth $227,000 after purchasing an additional 400 shares during the period. SevenBridge Financial Group LLC grew its stake in Coterra Energy by 4.2% in the third quarter. SevenBridge Financial Group LLC now owns 9,820 shares of the company’s stock worth $256,000 after purchasing an additional 400 shares during the period. Finally, 180 Wealth Advisors LLC grew its stake in Coterra Energy by 3.5% in the second quarter. 180 Wealth Advisors LLC now owns 12,196 shares of the company’s stock worth $321,000 after purchasing an additional 415 shares during the period. 94.72% of the stock is owned by hedge funds and other institutional investors.

Coterra Energy Stock Down 1.1 %

CTRA stock opened at $25.10 on Monday. Coterra Energy Inc. has a fifty-two week low of $18.39 and a fifty-two week high of $36.55. The business’s 50-day moving average is $25.91 and its two-hundred day moving average is $27.82. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.62 and a current ratio of 1.66. The company has a market cap of $19.79 billion, a price-to-earnings ratio of 5.07, a P/E/G ratio of 0.12 and a beta of 0.25.

Coterra Energy (NYSE:CTRAGet Rating) last posted its earnings results on Thursday, November 3rd. The company reported $1.39 earnings per share for the quarter, beating analysts’ consensus estimates of $1.34 by $0.05. Coterra Energy had a return on equity of 29.82% and a net margin of 44.15%. The company had revenue of $2.52 billion for the quarter, compared to the consensus estimate of $2.43 billion. As a group, analysts forecast that Coterra Energy Inc. will post 4.89 earnings per share for the current year.

Coterra Energy Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, November 30th. Shareholders of record on Wednesday, November 16th were given a $0.68 dividend. This is a boost from Coterra Energy’s previous quarterly dividend of $0.15. The ex-dividend date of this dividend was Tuesday, November 15th. This represents a $2.72 dividend on an annualized basis and a yield of 10.84%. Coterra Energy’s dividend payout ratio is presently 12.12%.

Insiders Place Their Bets

In other Coterra Energy news, Director Hans Helmerich sold 5,000 shares of the company’s stock in a transaction dated Thursday, December 1st. The stock was sold at an average price of $27.64, for a total value of $138,200.00. Following the completion of the sale, the director now owns 225,755 shares in the company, valued at $6,239,868.20. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 1.60% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the company. Barclays cut their target price on Coterra Energy from $39.00 to $30.00 and set an “equal weight” rating on the stock in a research note on Wednesday, December 7th. Bank of America raised Coterra Energy from an “underperform” rating to a “neutral” rating and cut their target price for the stock from $30.00 to $29.00 in a research note on Friday, January 6th. Mizuho reissued a “buy” rating and issued a $41.00 target price (down from $42.00) on shares of Coterra Energy in a research note on Tuesday, January 10th. Raymond James cut their target price on Coterra Energy from $42.00 to $36.00 and set an “outperform” rating on the stock in a research note on Monday, October 24th. Finally, Tudor Pickering cut Coterra Energy from a “buy” rating to a “hold” rating in a research note on Wednesday, November 30th. One equities research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $32.67.

About Coterra Energy

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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. It primarily focuses on the Marcellus Shale with approximately 177,000 net acres in the dry gas window of the play located in Susquehanna County, Pennsylvania.

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Institutional Ownership by Quarter for Coterra Energy (NYSE:CTRA)

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