Coterra Energy Inc. $CTRA Shares Purchased by Credit Agricole S A

Key Points

• Credit Agricole S A increased its stake in Coterra Energy Inc. by 8.8%, owning over 211,000 shares valued at approximately $6.12 million.
• Coterra Energy reported $1.97 billion in revenue for the last quarter, surpassing estimates and representing a 54.6% year-over-year increase.
• The company announced a quarterly dividend of $0.22 per share with a dividend yield of 3.8%, set to be paid on August 28th.

Credit Agricole S A grew its stake in shares of Coterra Energy Inc. (NYSE:CTRA - Free Report) by 8.8% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 211,816 shares of the company's stock after purchasing an additional 17,137 shares during the quarter. Credit Agricole S A's holdings in Coterra Energy were worth $6,121,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Dark Forest Capital Management LP bought a new stake in shares of Coterra Energy in the fourth quarter valued at about $942,000. State of Tennessee Department of Treasury raised its holdings in shares of Coterra Energy by 7.1% in the fourth quarter. State of Tennessee Department of Treasury now owns 472,799 shares of the company's stock valued at $12,075,000 after acquiring an additional 31,425 shares in the last quarter. BI Asset Management Fondsmaeglerselskab A S bought a new stake in shares of Coterra Energy in the fourth quarter valued at about $641,000. Allspring Global Investments Holdings LLC raised its holdings in Coterra Energy by 7.6% in the first quarter. Allspring Global Investments Holdings LLC now owns 123,054 shares of the company's stock worth $3,577,000 after purchasing an additional 8,726 shares in the last quarter. Finally, Vontobel Holding Ltd. bought a new position in Coterra Energy in the first quarter worth about $233,000. 87.92% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

CTRA has been the subject of a number of recent research reports. Bank of America reduced their target price on shares of Coterra Energy from $34.00 to $33.00 and set a "buy" rating for the company in a report on Tuesday, April 29th. Pickering Energy Partners downgraded shares of Coterra Energy from an "outperform" rating to a "neutral" rating in a report on Tuesday, May 20th. Barclays boosted their target price on shares of Coterra Energy from $35.00 to $37.00 and gave the stock an "overweight" rating in a report on Monday, July 7th. Piper Sandler boosted their target price on shares of Coterra Energy from $37.00 to $39.00 and gave the stock an "overweight" rating in a report on Thursday, August 14th. Finally, UBS Group reduced their target price on shares of Coterra Energy from $32.00 to $30.00 and set a "buy" rating for the company in a report on Friday, May 9th. One analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and four have given a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $33.37.

Coterra Energy Stock Performance

Coterra Energy stock traded up $0.3350 during mid-day trading on Friday, hitting $23.7750. The company had a trading volume of 4,496,978 shares, compared to its average volume of 6,675,101. The company has a current ratio of 1.13, a quick ratio of 1.08 and a debt-to-equity ratio of 0.29. Coterra Energy Inc. has a 12-month low of $22.30 and a 12-month high of $29.95. The company's fifty day moving average is $24.69 and its 200-day moving average is $25.67. The company has a market capitalization of $18.14 billion, a price-to-earnings ratio of 11.38, a P/E/G ratio of 0.32 and a beta of 0.33.

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

Coterra Energy Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, August 28th. Stockholders 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 dividend yield of 3.7%. Coterra Energy's dividend payout ratio (DPR) is 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.