Coterra Energy Inc. $CTRA Stock Position Increased by Chevy Chase Trust Holdings LLC

Key Points

• Chevy Chase Trust Holdings LLC increased its position in Coterra Energy by 4.2% during Q2, owning approximately $10.23 million worth of shares after purchasing an additional 16,242 shares.
• Recent research reports show a mixed forecast, with analysts lowering price targets but maintaining ratings; the current consensus target price for Coterra Energy is $32.50.
• Coterra Energy announced a quarterly dividend of $0.22 per share, showcasing a 3.9% yield and a dividend payout ratio of 42.11%.

Chevy Chase Trust Holdings LLC boosted its position in Coterra Energy Inc. (NYSE:CTRA - Free Report) by 4.2% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 403,149 shares of the company's stock after purchasing an additional 16,242 shares during the quarter. Chevy Chase Trust Holdings LLC owned about 0.05% of Coterra Energy worth $10,232,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Cornerstone Planning Group LLC raised its position in shares of 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 buying an additional 555 shares in the last quarter. Raleigh Capital Management Inc. increased its position in shares of Coterra Energy by 463.5% in the first quarter. Raleigh Capital Management Inc. now owns 896 shares of the company's stock worth $26,000 after acquiring an additional 737 shares in the last quarter. REAP Financial Group LLC increased its position in shares of Coterra Energy by 190.1% in the second quarter. REAP Financial Group LLC now owns 1,108 shares of the company's stock worth $28,000 after acquiring an additional 726 shares in the last quarter. Banque Cantonale Vaudoise purchased a new position in shares of Coterra Energy in the first quarter worth approximately $29,000. Finally, Wayfinding Financial LLC purchased a new position in Coterra Energy during the first quarter valued at approximately $34,000. 87.92% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

CTRA has been the topic of a number of research analyst reports. Siebert Williams Shank lowered their price objective on shares of Coterra Energy from $35.00 to $32.00 and set a "buy" rating on the stock in a research report on Monday, October 13th. Scotiabank decreased their price objective on shares of Coterra Energy from $35.00 to $32.00 and set a "sector outperform" rating for the company in a report on Thursday, October 9th. Barclays decreased their price objective on shares of Coterra Energy from $37.00 to $35.00 and set an "overweight" rating for the company in a report on Tuesday, October 7th. Piper Sandler upped their target price on shares of Coterra Energy from $37.00 to $39.00 and gave the company an "overweight" rating in a research note on Thursday, August 14th. Finally, Raymond James Financial reiterated an "outperform" rating and set a $34.00 target price (down from $38.00) on shares of Coterra Energy in a research note on Thursday, September 11th. Sixteen 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. Based on data from MarketBeat.com, Coterra Energy presently has an average rating of "Moderate Buy" and a consensus target price of $32.50.

Coterra Energy Trading Up 1.0%

Shares of Coterra Energy stock opened at $22.82 on Monday. Coterra Energy Inc. has a 12-month low of $22.33 and a 12-month high of $29.95. The company has a 50-day simple moving average of $23.80 and a 200 day simple moving average of $24.56. 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 stock has a market capitalization of $17.41 billion, a P/E ratio of 10.92, a price-to-earnings-growth ratio of 0.34 and a beta of 0.29.

Coterra Energy (NYSE:CTRA - Get Free Report) last issued 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). 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 for the quarter, compared to the consensus estimate of $1.78 billion. During the same period in the prior year, the company earned $0.37 EPS. The firm's revenue was up 54.6% compared to the same quarter last year. Research analysts expect that Coterra Energy Inc. will post 1.54 earnings per share for the current fiscal year.

Coterra Energy Dividend Announcement

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

Coterra Energy Company 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.

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