Commerzbank Aktiengesellschaft FI Buys 1,794 Shares of Coterra Energy Inc. (NYSE:CTRA)

by · The Markets Daily

Commerzbank Aktiengesellschaft FI raised its stake in Coterra Energy Inc. (NYSE:CTRA – Free Report) by 5.2% in the first quarter, Holdings Channel reports. The firm owned 36,628 shares of the company’s stock after acquiring an additional 1,794 shares during the quarter. Commerzbank Aktiengesellschaft FI’s holdings in Coterra Energy were worth $1,059,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Sterling Capital Management LLC boosted its stake in shares of Coterra Energy by 5,744.3% during the 4th quarter. Sterling Capital Management LLC now owns 3,661,696 shares of the company’s stock worth $93,520,000 after acquiring an additional 3,599,042 shares during the period. Envestnet Asset Management Inc. boosted its stake in shares of Coterra Energy by 117.3% during the 4th quarter. Envestnet Asset Management Inc. now owns 4,817,375 shares of the company’s stock worth $123,036,000 after acquiring an additional 2,600,801 shares during the period. Zurich Insurance Group Ltd FI bought a new position in shares of Coterra Energy during the 4th quarter worth approximately $57,877,000. Man Group plc boosted its stake in shares of Coterra Energy by 81.4% during the 4th quarter. Man Group plc now owns 4,842,621 shares of the company’s stock worth $123,681,000 after acquiring an additional 2,172,931 shares during the period. Finally, Schroder Investment Management Group boosted its stake in shares of Coterra Energy by 18.2% during the 4th quarter. Schroder Investment Management Group now owns 11,776,525 shares of the company’s stock worth $300,537,000 after acquiring an additional 1,809,615 shares during the period. 87.92% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts have recently commented on CTRA shares. Mizuho reduced their target price on Coterra Energy from $38.00 to $36.00 and set an “outperform” rating for the company in a research note on Tuesday, May 13th. Susquehanna cut their target price on Coterra Energy from $34.00 to $32.00 and set a “positive” rating for the company in a research report on Tuesday, April 22nd. Scotiabank reiterated an “outperform” rating on shares of Coterra Energy in a research report on Friday, July 11th. Wells Fargo & Company cut their target price on Coterra Energy from $33.00 to $31.00 and set an “overweight” rating for the company in a research report on Monday, June 16th. Finally, Raymond James Financial set a $38.00 target price on Coterra Energy and gave the company an “outperform” rating in a research report on Friday, June 13th. Four research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Coterra Energy currently has a consensus rating of “Moderate Buy” and a consensus target price of $33.25.

Read Our Latest Analysis on Coterra Energy

Coterra Energy Stock Performance

Coterra Energy stock opened at $24.45 on Friday. The stock’s 50 day simple moving average is $25.28 and its two-hundred day simple moving average is $26.44. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.86 and a current ratio of 0.90. The stock has a market cap of $18.66 billion, a price-to-earnings ratio of 14.21, a PEG ratio of 0.33 and a beta of 0.35. Coterra Energy Inc. has a fifty-two week low of $22.30 and a fifty-two week high of $29.95.

Coterra Energy (NYSE:CTRA – Get Free Report) last issued its quarterly earnings results on Monday, May 5th. The company reported $0.80 EPS for the quarter, topping analysts’ consensus estimates of $0.71 by $0.09. Coterra Energy had a return on equity of 10.61% and a net margin of 21.67%. The firm had revenue of $924.00 million for the quarter, compared to analysts’ expectations of $1.92 billion. During the same period in the previous year, the firm posted $0.51 EPS. The business’s revenue for the quarter was up 32.9% compared to the same quarter last year. As a group, analysts expect that Coterra Energy Inc. will post 1.54 earnings per share for the current fiscal year.

Coterra Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, May 29th. Investors of record on Thursday, May 15th were given a $0.22 dividend. The ex-dividend date of this dividend was Thursday, May 15th. This represents a $0.88 annualized dividend and a yield of 3.60%. Coterra Energy’s dividend payout ratio (DPR) is presently 51.16%.

About Coterra Energy

(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.

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