Raiffeisen Bank International AG Buys 10,764 Shares of Coterra Energy Inc. $CTRA

Raiffeisen Bank International AG lifted its stake in shares of Coterra Energy Inc. (NYSE:CTRA) by 77.2% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 24,701 shares of the company’s stock after buying an additional 10,764 shares during the period. Raiffeisen Bank International AG’s holdings in Coterra Energy were worth $644,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Banque Cantonale Vaudoise bought a new stake in Coterra Energy during the first quarter worth about $29,000. Bogart Wealth LLC acquired a new position in shares of Coterra Energy in the 2nd quarter valued at approximately $26,000. REAP Financial Group LLC lifted its holdings in shares of 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. TCTC Holdings LLC boosted its position in shares of Coterra Energy by 51.0% during the 1st quarter. TCTC Holdings LLC now owns 1,771 shares of the company’s stock worth $51,000 after acquiring an additional 598 shares in the last quarter. Finally, Tobam boosted its position in shares of Coterra Energy by 50.9% during the 2nd quarter. Tobam now owns 1,823 shares of the company’s stock worth $46,000 after acquiring an additional 615 shares in the last quarter. Institutional investors and hedge funds own 87.92% of the company’s stock.

Wall Street Analysts Forecast Growth

CTRA has been the subject of several research analyst reports. Mizuho lowered their price objective on shares of Coterra Energy from $36.00 to $33.00 and set an “outperform” rating for the company in a research report on Monday, September 15th. Siebert Williams Shank lowered their price target on Coterra Energy from $35.00 to $32.00 and set a “buy” rating for the company in a report on Monday, October 13th. Wolfe Research dropped their price objective on Coterra Energy from $36.00 to $35.00 and set an “outperform” rating for the company in a research report on Tuesday, November 4th. Zacks Research lowered Coterra Energy from a “hold” rating to a “strong sell” rating in a research note on Monday, October 13th. Finally, Stephens decreased their target price on Coterra Energy from $34.00 to $33.00 and set an “overweight” rating on the stock in a research report on Tuesday, October 21st. Seventeen research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Coterra Energy currently has a consensus rating of “Moderate Buy” and an average price target of $32.38.

Coterra Energy Stock Up 0.8%

Shares of CTRA opened at $26.18 on Wednesday. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.08 and a current ratio of 1.13. Coterra Energy Inc. has a 52 week low of $22.33 and a 52 week high of $29.95. The stock has a market capitalization of $19.93 billion, a price-to-earnings ratio of 12.52, a PEG ratio of 0.36 and a beta of 0.30. The stock has a fifty day moving average of $24.21 and a 200-day moving average of $24.49.

Coterra Energy (NYSE:CTRA) last issued its quarterly earnings data on Monday, November 3rd. The company reported $0.41 earnings per share for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.02). Coterra Energy had a return on equity of 10.99% and a net margin of 23.80%.The firm had revenue of $1.82 billion for the quarter, compared to the consensus estimate of $1.83 billion. During the same quarter in the prior year, the firm earned $0.32 EPS. The company’s revenue was up 33.7% on a year-over-year basis. As a group, sell-side analysts anticipate that Coterra Energy Inc. will post 1.54 earnings per share for the current fiscal year.

Coterra Energy Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, November 26th. Stockholders of record on Thursday, November 13th will be issued a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a dividend yield of 3.4%. The ex-dividend date is Thursday, November 13th. Coterra Energy’s payout ratio is 40.55%.

Coterra Energy 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.