Coterra Energy Inc. (NYSE:CTRA) Position Reduced by First American Bank

First American Bank lowered its stake in Coterra Energy Inc. (NYSE:CTRA) by 14.3% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 65,431 shares of the company’s stock after selling 10,919 shares during the period. First American Bank’s holdings in Coterra Energy were worth $1,567,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Fortitude Family Office LLC grew its stake in Coterra Energy by 154.9% in the second quarter. Fortitude Family Office LLC now owns 933 shares of the company’s stock worth $25,000 after purchasing an additional 567 shares in the last quarter. Larson Financial Group LLC lifted its holdings in Coterra Energy by 98.0% during the 2nd quarter. Larson Financial Group LLC now owns 1,081 shares of the company’s stock worth $29,000 after buying an additional 535 shares during the last quarter. Central Pacific Bank Trust Division acquired a new position in shares of Coterra Energy in the 1st quarter worth approximately $44,000. EverSource Wealth Advisors LLC increased its holdings in shares of Coterra Energy by 31.0% in the 1st quarter. EverSource Wealth Advisors LLC now owns 2,351 shares of the company’s stock valued at $64,000 after acquiring an additional 557 shares during the last quarter. Finally, Values First Advisors Inc. acquired a new stake in shares of Coterra Energy during the 3rd quarter valued at approximately $57,000. Institutional investors and hedge funds own 87.92% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the stock. Wolfe Research started coverage on shares of Coterra Energy in a research note on Thursday, July 18th. They set an “outperform” rating and a $35.00 target price for the company. Susquehanna lowered their price objective on shares of Coterra Energy from $33.00 to $30.00 and set a “positive” rating for the company in a research report on Wednesday, September 4th. Morgan Stanley cut their target price on shares of Coterra Energy from $29.00 to $27.00 and set an “equal weight” rating on the stock in a report on Monday, September 16th. UBS Group lowered their target price on Coterra Energy from $34.00 to $31.00 and set a “buy” rating for the company in a report on Wednesday, September 18th. Finally, JPMorgan Chase & Co. cut their price target on Coterra Energy from $31.00 to $26.00 and set an “overweight” rating on the stock in a report on Thursday, September 12th. Two equities research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Coterra Energy currently has a consensus rating of “Moderate Buy” and a consensus target price of $32.06.

Coterra Energy Price Performance

NYSE CTRA opened at $23.85 on Monday. Coterra Energy Inc. has a 12 month low of $22.30 and a 12 month high of $28.90. The firm has a market capitalization of $17.75 billion, a PE ratio of 13.79, a P/E/G ratio of 1.41 and a beta of 0.22. The company’s 50 day simple moving average is $23.84 and its 200 day simple moving average is $25.81. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.40 and a quick ratio of 1.38.

Coterra Energy (NYSE:CTRA) last issued its quarterly earnings results on Thursday, August 1st. The company reported $0.37 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.39 by ($0.02). The firm had revenue of $1.27 billion for the quarter, compared to analyst estimates of $1.32 billion. Coterra Energy had a net margin of 23.18% and a return on equity of 10.48%. The firm’s revenue for the quarter was up 7.3% compared to the same quarter last year. During the same quarter last year, the business posted $0.38 earnings per share. As a group, equities research analysts forecast that Coterra Energy Inc. will post 1.72 EPS for the current fiscal year.

Coterra Energy Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 29th. Shareholders of record on Thursday, August 15th were issued a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a yield of 3.52%. The ex-dividend date of this dividend was Thursday, August 15th. Coterra Energy’s payout ratio is 48.55%.

Coterra Energy Company Profile

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.