Truist Financial Corp Raises Stock Holdings in Coterra Energy Inc. $CTRA

Truist Financial Corp lifted its holdings in shares of Coterra Energy Inc. (NYSE:CTRA) by 11.1% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 4,681,093 shares of the company’s stock after acquiring an additional 467,778 shares during the period. Truist Financial Corp owned 0.61% of Coterra Energy worth $110,708,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the business. AAFMAA Wealth Management & Trust LLC boosted its stake in Coterra Energy by 1.0% during the 3rd quarter. AAFMAA Wealth Management & Trust LLC now owns 43,009 shares of the company’s stock worth $1,017,000 after purchasing an additional 429 shares during the period. Trust Co. of Vermont raised its holdings in shares of Coterra Energy by 1.5% in the third quarter. Trust Co. of Vermont now owns 30,832 shares of the company’s stock valued at $729,000 after buying an additional 454 shares during the last quarter. GAMMA Investing LLC boosted its stake in shares of Coterra Energy by 2.1% during the third quarter. GAMMA Investing LLC now owns 22,763 shares of the company’s stock worth $538,000 after buying an additional 462 shares during the period. Wellington Shields Capital Management LLC boosted its stake in shares of Coterra Energy by 5.4% during the second quarter. Wellington Shields Capital Management LLC now owns 9,725 shares of the company’s stock worth $247,000 after buying an additional 500 shares during the period. Finally, Elevation Point Wealth Partners LLC grew its holdings in shares of Coterra Energy by 1.1% during the second quarter. Elevation Point Wealth Partners LLC now owns 50,333 shares of the company’s stock worth $1,277,000 after buying an additional 531 shares during the last quarter. 87.92% of the stock is owned by institutional investors and hedge funds.

Coterra Energy Price Performance

Shares of NYSE CTRA opened at $27.82 on Thursday. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.98 and a current ratio of 1.02. Coterra Energy Inc. has a one year low of $22.33 and a one year high of $29.82. The firm has a market capitalization of $21.18 billion, a P/E ratio of 12.82, a PEG ratio of 0.62 and a beta of 0.36. The company’s fifty day moving average is $26.20 and its two-hundred day moving average is $24.86.

Coterra Energy (NYSE:CTRA) last announced its quarterly earnings data on Monday, November 3rd. The company reported $0.41 EPS for the quarter, missing the consensus estimate of $0.43 by ($0.02). Coterra Energy had a net margin of 23.25% and a return on equity of 11.23%. The company had revenue of $1.82 billion during the quarter, compared to analyst estimates of $1.83 billion. During the same quarter last year, the business earned $0.32 EPS. The firm’s revenue for the quarter was up 33.7% on a year-over-year basis. Analysts forecast that Coterra Energy Inc. will post 1.54 EPS for the current fiscal year.

Coterra Energy Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, November 26th. Investors of record on Thursday, November 13th were issued a $0.22 dividend. The ex-dividend date was Thursday, November 13th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 3.2%. Coterra Energy’s dividend payout ratio is currently 40.55%.

Analysts Set New Price Targets

Several analysts have commented on the company. Morgan Stanley reduced their price objective on Coterra Energy from $29.00 to $28.00 and set an “equal weight” rating for the company in a research note on Tuesday, October 14th. Siebert Williams Shank increased their price target on Coterra Energy from $32.00 to $35.00 and gave the stock a “buy” rating in a report on Monday. Roth Mkm boosted their price objective on shares of Coterra Energy from $27.00 to $30.00 and gave the company a “buy” rating in a research note on Friday, January 23rd. Wolfe Research upped their price objective on shares of Coterra Energy from $32.00 to $33.00 and gave the stock an “outperform” rating in a research report on Monday. Finally, Zacks Research cut shares of Coterra Energy from a “hold” rating to a “strong sell” rating in a research note on Monday, January 19th. Sixteen analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $32.76.

About Coterra Energy

Coterra Energy (NYSE: CTRA) is an independent oil and natural gas exploration and production company focused on the development, production and optimization of onshore hydrocarbon resources in the United States. The company’s operations center on the exploration, drilling, completion and production of crude oil, natural gas and natural gas liquids (NGLs), with an emphasis on maximizing operational efficiency and capital discipline across its asset base.

Its business activities include identifying and developing resource-rich acreage, operating producing wells, managing reservoir performance and marketing produced hydrocarbons to a range of midstream and energy customers.