Coterra Energy Inc. (NYSE:CTRA) Shares Purchased by Comerica Bank

Comerica Bank increased its position in shares of Coterra Energy Inc. (NYSE:CTRAFree Report) by 42.6% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 225,238 shares of the company’s stock after acquiring an additional 67,341 shares during the period. Comerica Bank’s holdings in Coterra Energy were worth $6,093,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of the company. Diversified Trust Co purchased a new position in Coterra Energy in the 3rd quarter worth about $212,000. OLD National Bancorp IN grew its stake in Coterra Energy by 0.9% during the 3rd quarter. OLD National Bancorp IN now owns 302,198 shares of the company’s stock valued at $8,174,000 after acquiring an additional 2,618 shares in the last quarter. Creative Planning grew its stake in Coterra Energy by 6.4% during the 3rd quarter. Creative Planning now owns 56,602 shares of the company’s stock valued at $1,531,000 after acquiring an additional 3,391 shares in the last quarter. Tudor Investment Corp Et Al purchased a new position in Coterra Energy during the 3rd quarter valued at about $11,864,000. Finally, Belpointe Asset Management LLC grew its stake in Coterra Energy by 11.7% during the 3rd quarter. Belpointe Asset Management LLC now owns 15,861 shares of the company’s stock valued at $429,000 after acquiring an additional 1,662 shares in the last quarter. 90.54% of the stock is owned by institutional investors and hedge funds.

Coterra Energy Stock Performance

NYSE CTRA opened at $26.42 on Friday. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.21 and a quick ratio of 1.18. The firm has a market capitalization of $19.89 billion, a price-to-earnings ratio of 12.35, a P/E/G ratio of 0.22 and a beta of 0.20. The company’s fifty day moving average is $25.31 and its two-hundred day moving average is $26.36. Coterra Energy Inc. has a 52-week low of $22.26 and a 52-week high of $29.89.

Coterra Energy (NYSE:CTRAGet Free Report) last released its quarterly earnings data on Thursday, February 22nd. The company reported $0.49 EPS for the quarter, missing analysts’ consensus estimates of $0.55 by ($0.06). The business had revenue of $1.60 billion for the quarter, compared to the consensus estimate of $1.54 billion. Coterra Energy had a return on equity of 12.97% and a net margin of 27.48%. Equities research analysts forecast that Coterra Energy Inc. will post 2.17 EPS for the current year.

Coterra Energy Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 28th. Stockholders of record on Thursday, March 14th will be issued a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 3.18%. This is an increase from Coterra Energy’s previous quarterly dividend of $0.20. The ex-dividend date of this dividend is Wednesday, March 13th. Coterra Energy’s dividend payout ratio (DPR) is presently 39.25%.

Analyst Upgrades and Downgrades

CTRA has been the topic of several research analyst reports. Stephens reaffirmed an “overweight” rating and set a $39.00 target price on shares of Coterra Energy in a research note on Tuesday, January 23rd. Wells Fargo & Company upgraded shares of Coterra Energy from an “equal weight” rating to an “overweight” rating and set a $30.00 price target on the stock in a research note on Thursday, December 14th. Raymond James increased their price target on shares of Coterra Energy from $32.00 to $34.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 24th. Piper Sandler increased their price target on shares of Coterra Energy from $33.00 to $35.00 and gave the stock an “overweight” rating in a research note on Thursday, March 7th. Finally, UBS Group increased their price target on shares of Coterra Energy from $31.00 to $32.00 and gave the stock a “buy” rating in a research note on Friday, March 1st. Three research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $32.43.

Read Our Latest Research Report on Coterra Energy

Insider Activity at Coterra Energy

In other Coterra Energy news, VP Michael D. Deshazer sold 14,000 shares of the firm’s stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $26.06, for a total value of $364,840.00. Following the completion of the sale, the vice president now owns 93,988 shares in the company, valued at approximately $2,449,327.28. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.70% of the stock is currently owned by insiders.

Coterra Energy Company Profile

(Free Report)

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.

See Also

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

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