Amalgamated Bank Purchases New Position in Coterra Energy Inc. (NYSE:CTRA)

Amalgamated Bank purchased a new stake in Coterra Energy Inc. (NYSE:CTRAGet Rating) in the 1st quarter, according to its most recent filing with the SEC. The institutional investor purchased 271,372 shares of the company’s stock, valued at approximately $7,319,000.

Several other large investors have also recently added to or reduced their stakes in CTRA. Vanguard Group Inc. acquired a new stake in Coterra Energy in the 1st quarter valued at $2,472,575,000. Capital World Investors acquired a new stake in Coterra Energy in the 1st quarter valued at $2,268,599,000. BlackRock Inc. acquired a new stake in Coterra Energy in the 1st quarter valued at $1,802,238,000. State Street Corp acquired a new stake in Coterra Energy in the 1st quarter valued at $1,493,855,000. Finally, Wellington Management Group LLP acquired a new stake in Coterra Energy in the 1st quarter valued at $1,000,797,000. 93.39% of the stock is currently owned by institutional investors and hedge funds.

Coterra Energy Stock Performance

Shares of NYSE CTRA opened at $28.74 on Friday. The company has a quick ratio of 1.77, a current ratio of 1.80 and a debt-to-equity ratio of 0.24. The firm’s 50-day moving average price is $29.25 and its two-hundred day moving average price is $29.09. Coterra Energy Inc. has a 52-week low of $18.39 and a 52-week high of $36.55. The stock has a market capitalization of $22.87 billion, a P/E ratio of 7.98, a P/E/G ratio of 0.11 and a beta of 0.06.

Coterra Energy (NYSE:CTRAGet Rating) last issued its earnings results on Tuesday, August 2nd. The company reported $1.32 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.18 by $0.14. Coterra Energy had a net margin of 41.04% and a return on equity of 28.44%. The firm had revenue of $2.57 billion for the quarter, compared to analysts’ expectations of $2.25 billion. During the same quarter last year, the company posted $0.25 earnings per share. As a group, sell-side analysts forecast that Coterra Energy Inc. will post 4.97 earnings per share for the current year.

Coterra Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 25th. Shareholders of record on Monday, August 15th were issued a $0.15 dividend. The ex-dividend date was Friday, August 12th. This represents a $0.60 dividend on an annualized basis and a yield of 2.09%. Coterra Energy’s dividend payout ratio is currently 16.67%.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on CTRA shares. Wells Fargo & Company raised their target price on Coterra Energy from $42.00 to $46.00 and gave the company an “overweight” rating in a research note on Monday, July 11th. MKM Partners restated a “neutral” rating and set a $26.00 target price on shares of Coterra Energy in a research note on Wednesday, July 20th. Credit Suisse Group raised their target price on Coterra Energy from $30.00 to $35.00 and gave the company a “neutral” rating in a research note on Monday, June 13th. Mizuho raised their target price on Coterra Energy from $40.00 to $43.00 and gave the company a “buy” rating in a research note on Thursday, August 18th. Finally, Citigroup downgraded Coterra Energy from a “buy” rating to a “neutral” rating and lowered their target price for the company from $40.00 to $27.00 in a research note on Friday, June 24th. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $33.67.

Coterra Energy Company Profile

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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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