Coterra Energy Inc. (NYSE:CTRA) Position Boosted by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC lifted its stake in shares of Coterra Energy Inc. (NYSE:CTRA) by 7.6% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 123,054 shares of the company’s stock after purchasing an additional 8,726 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Coterra Energy were worth $3,577,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Donald L. Hagan LLC increased its stake in shares of Coterra Energy by 1.1% during the first quarter. Donald L. Hagan LLC now owns 35,754 shares of the company’s stock valued at $1,033,000 after acquiring an additional 401 shares during the period. Investors Research Corp increased its stake in shares of Coterra Energy by 45.2% during the first quarter. Investors Research Corp now owns 1,311 shares of the company’s stock valued at $38,000 after acquiring an additional 408 shares during the period. Procyon Advisors LLC increased its stake in shares of Coterra Energy by 3.6% during the first quarter. Procyon Advisors LLC now owns 13,460 shares of the company’s stock valued at $389,000 after acquiring an additional 469 shares during the period. Cadence Wealth Management LLC increased its stake in shares of Coterra Energy by 4.1% during the fourth quarter. Cadence Wealth Management LLC now owns 11,880 shares of the company’s stock valued at $303,000 after acquiring an additional 472 shares during the period. Finally, Confluence Investment Management LLC increased its stake in shares of Coterra Energy by 2.1% during the first quarter. Confluence Investment Management LLC now owns 23,309 shares of the company’s stock valued at $674,000 after acquiring an additional 472 shares during the period. Institutional investors and hedge funds own 87.92% of the company’s stock.

Analyst Upgrades and Downgrades

CTRA has been the topic of several recent research reports. Raymond James Financial set a $38.00 price target on shares of Coterra Energy and gave the stock an “outperform” rating in a research report on Friday, June 13th. Bank of America decreased their price target on shares of Coterra Energy from $34.00 to $33.00 and set a “buy” rating on the stock in a research report on Tuesday, April 29th. Susquehanna decreased their price target on shares of Coterra Energy from $34.00 to $32.00 and set a “positive” rating on the stock in a research report on Tuesday, April 22nd. Barclays decreased their price target on shares of Coterra Energy from $37.00 to $35.00 and set an “overweight” rating on the stock in a research report on Tuesday, May 6th. Finally, Piper Sandler decreased their price target on shares of Coterra Energy from $37.00 to $36.00 and set an “overweight” rating on the stock in a research report on Tuesday, May 13th. Four research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $33.00.

Coterra Energy Stock Up 0.6%

Coterra Energy stock opened at $25.19 on Monday. The company has a market capitalization of $19.22 billion, a P/E ratio of 14.64, a P/E/G ratio of 0.34 and a beta of 0.35. The firm’s fifty day simple moving average is $25.20 and its 200-day simple moving average is $26.44. The company has a current ratio of 0.90, a quick ratio of 0.86 and a debt-to-equity ratio of 0.30. Coterra Energy Inc. has a 1-year low of $22.30 and a 1-year high of $29.95.

Coterra Energy (NYSE:CTRA) last released its quarterly earnings results on Monday, May 5th. The company reported $0.80 earnings per share for the quarter, beating analysts’ consensus estimates of $0.71 by $0.09. The business had revenue of $924.00 million for the quarter, compared to the consensus estimate of $1.92 billion. Coterra Energy had a net margin of 21.67% and a return on equity of 10.61%. Coterra Energy’s revenue for the quarter was up 32.9% on a year-over-year basis. During the same quarter last year, the firm earned $0.51 EPS. Sell-side analysts forecast that Coterra Energy Inc. will post 1.54 earnings per share for the current fiscal year.

Coterra Energy Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, May 29th. Shareholders of record on Thursday, May 15th were given a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a yield of 3.49%. The ex-dividend date was Thursday, May 15th. Coterra Energy’s dividend payout ratio is 51.16%.

About Coterra Energy

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.