Coterra Energy Inc. $CTRA Stake Lifted by Wilmington Savings Fund Society FSB

Wilmington Savings Fund Society FSB increased its stake in shares of Coterra Energy Inc. (NYSE:CTRA) by 5.4% in the second quarter, Holdings Channel.com reports. The institutional investor owned 26,261 shares of the company’s stock after acquiring an additional 1,336 shares during the period. Wilmington Savings Fund Society FSB’s holdings in Coterra Energy were worth $667,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently added to or reduced their stakes in the company. Cornerstone Planning Group LLC boosted its position in Coterra Energy by 175.6% during the 1st quarter. Cornerstone Planning Group LLC now owns 871 shares of the company’s stock worth $25,000 after acquiring an additional 555 shares during the period. Raleigh Capital Management Inc. boosted its position in Coterra Energy by 463.5% during the 1st quarter. Raleigh Capital Management Inc. now owns 896 shares of the company’s stock worth $26,000 after acquiring an additional 737 shares during the period. REAP Financial Group LLC boosted its position in Coterra Energy by 190.1% during the 2nd quarter. REAP Financial Group LLC now owns 1,108 shares of the company’s stock worth $28,000 after acquiring an additional 726 shares during the period. Banque Cantonale Vaudoise acquired a new position in Coterra Energy during the 1st quarter worth $29,000. Finally, Wayfinding Financial LLC acquired a new position in Coterra Energy during the 1st quarter worth $34,000. Institutional investors and hedge funds own 87.92% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on CTRA shares. Mizuho reduced their price target on Coterra Energy from $36.00 to $33.00 and set an “outperform” rating for the company in a research report on Monday, September 15th. Scotiabank reduced their price target on Coterra Energy from $35.00 to $32.00 and set a “sector outperform” rating for the company in a research report on Thursday, October 9th. Wells Fargo & Company boosted their price target on Coterra Energy from $32.00 to $33.00 and gave the stock an “overweight” rating in a research report on Thursday, August 14th. JPMorgan Chase & Co. boosted their price target on Coterra Energy from $33.00 to $35.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 7th. Finally, Piper Sandler upped their price objective on Coterra Energy from $37.00 to $39.00 and gave the company an “overweight” rating in a report on Thursday, August 14th. Sixteen research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, Coterra Energy currently has a consensus rating of “Moderate Buy” and an average target price of $32.50.

Coterra Energy Trading Down 2.7%

Shares of Coterra Energy stock opened at $22.57 on Friday. The company has a quick ratio of 1.08, a current ratio of 1.13 and a debt-to-equity ratio of 0.29. The firm has a market cap of $17.22 billion, a price-to-earnings ratio of 10.80, a price-to-earnings-growth ratio of 0.35 and a beta of 0.29. The business has a fifty day simple moving average of $23.82 and a 200-day simple moving average of $24.65. Coterra Energy Inc. has a fifty-two week low of $22.33 and a fifty-two week high of $29.95.

Coterra Energy (NYSE:CTRA) last announced its quarterly earnings data on Monday, August 4th. The company reported $0.48 earnings per share for the quarter, missing the consensus estimate of $0.50 by ($0.02). Coterra Energy had a net margin of 23.80% and a return on equity of 10.99%. The firm had revenue of $1.97 billion during the quarter, compared to analyst estimates of $1.78 billion. During the same quarter last year, the company earned $0.37 EPS. The company’s quarterly revenue was up 54.6% compared to the same quarter last year. On average, equities analysts forecast that Coterra Energy Inc. will post 1.54 EPS for the current fiscal year.

Coterra Energy Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, August 28th. Stockholders of record on Thursday, August 14th were issued a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a dividend yield of 3.9%. The ex-dividend date of this dividend was Thursday, August 14th. Coterra Energy’s dividend payout ratio is currently 42.11%.

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.