Citigroup Inc. Has $96.13 Million Position in Coterra Energy Inc. (NYSE:CTRA)

Key Points

• Citigroup Inc. has increased its stake in Coterra Energy Inc. by 14.4%, now owning approximately 3.3 million shares valued at $96.1 million.
• Coterra Energy reported $1.97 billion in quarterly revenue, exceeding estimates, and a net margin of 23.80% despite missing EPS expectations.
• The company has declared a quarterly dividend of $0.22 per share, resulting in a 3.7% yield for investors.

Citigroup Inc. grew its stake in shares of Coterra Energy Inc. (NYSE:CTRA - Free Report) by 14.4% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,326,314 shares of the company's stock after purchasing an additional 418,505 shares during the quarter. Citigroup Inc. owned approximately 0.44% of Coterra Energy worth $96,130,000 as of its most recent SEC filing.

Other institutional investors also recently made changes to their positions in the company. Martingale Asset Management L P bought a new position in Coterra Energy in the 4th quarter worth approximately $249,000. Bessemer Group Inc. increased its holdings in shares of Coterra Energy by 8.7% during the fourth quarter. Bessemer Group Inc. now owns 57,967 shares of the company's stock valued at $1,481,000 after purchasing an additional 4,617 shares during the period. Capital Fund Management S.A. acquired a new position in shares of Coterra Energy during the fourth quarter valued at $283,000. Rockefeller Capital Management L.P. increased its holdings in shares of Coterra Energy by 10.9% during the fourth quarter. Rockefeller Capital Management L.P. now owns 161,198 shares of the company's stock valued at $4,117,000 after purchasing an additional 15,865 shares during the period. Finally, Townsquare Capital LLC increased its holdings in shares of Coterra Energy by 16.2% during the fourth quarter. Townsquare Capital LLC now owns 66,506 shares of the company's stock valued at $1,699,000 after purchasing an additional 9,260 shares during the period. 87.92% of the stock is owned by institutional investors.

Coterra Energy Trading Down 0.6%

Coterra Energy stock traded down $0.14 during midday trading on Thursday, reaching $24.09. The stock had a trading volume of 8,543,958 shares, compared to its average volume of 6,958,844. The firm's fifty day simple moving average is $25.00 and its two-hundred day simple moving average is $25.89. Coterra Energy Inc. has a twelve month low of $22.30 and a twelve month high of $29.95. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.13 and a quick ratio of 1.08. The firm has a market cap of $18.38 billion, a price-to-earnings ratio of 11.52, a PEG ratio of 0.33 and a beta of 0.33.

Coterra Energy (NYSE:CTRA - Get Free Report) last posted its quarterly earnings data on Monday, August 4th. The company reported $0.48 EPS for the quarter, missing analysts' consensus estimates of $0.50 by ($0.02). The firm had revenue of $1.97 billion during the quarter, compared to analyst estimates of $1.78 billion. Coterra Energy had a return on equity of 10.99% and a net margin of 23.80%. The company's revenue for the quarter was up 54.6% on a year-over-year basis. During the same period in the prior year, the business posted $0.37 EPS. Equities analysts anticipate that Coterra Energy Inc. will post 1.54 EPS for the current fiscal year.

Coterra Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, August 28th. Shareholders of record on Thursday, August 14th will be given a dividend of $0.22 per share. The ex-dividend date is Thursday, August 14th. This represents a $0.88 dividend on an annualized basis and a yield of 3.7%. Coterra Energy's dividend payout ratio (DPR) is presently 42.11%.

Analyst Upgrades and Downgrades

Several equities analysts have commented on CTRA shares. Bank of America lowered their target price on shares of Coterra Energy from $34.00 to $33.00 and set a "buy" rating on the stock in a research note on Tuesday, April 29th. Barclays raised their price objective on shares of Coterra Energy from $35.00 to $37.00 and gave the company an "overweight" rating in a research note on Monday, July 7th. Mizuho decreased their price target 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. Piper Sandler reaffirmed an "overweight" rating and set a $39.00 price target (up from $37.00) on shares of Coterra Energy in a research note on Thursday. Finally, UBS Group decreased their price target on Coterra Energy from $32.00 to $30.00 and set a "buy" rating for the company in a research note on Friday, May 9th. Four investment analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, Coterra Energy has an average rating of "Moderate Buy" and an average price target of $33.37.

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.