Coterra Energy Inc. (NYSE:CTRA) Shares Acquired by US Bancorp DE

Key Points

• US Bancorp DE increased its holdings in Coterra Energy by 4.4% during the first quarter, owning approximately 1,874,615 shares worth about $54.2 million.
• Coterra Energy reported a quarterly earnings per share (EPS) of $0.80, surpassing analysts' estimates by $0.09, with revenue rising by 32.9% compared to the same quarter last year.
• The company announced a quarterly dividend of $0.22, reflecting an annual yield of 3.7%, with a current dividend payout ratio of 51.16%.

US Bancorp DE lifted its position in shares of Coterra Energy Inc. (NYSE:CTRA - Free Report) by 4.4% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,874,615 shares of the company's stock after buying an additional 79,524 shares during the period. US Bancorp DE owned approximately 0.25% of Coterra Energy worth $54,176,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in CTRA. Dark Forest Capital Management LP acquired a new stake in Coterra Energy in the 4th quarter valued at $942,000. State of Tennessee Department of Treasury increased its holdings in Coterra Energy by 7.1% in the 4th quarter. State of Tennessee Department of Treasury now owns 472,799 shares of the company's stock valued at $12,075,000 after purchasing an additional 31,425 shares in the last quarter. BI Asset Management Fondsmaeglerselskab A S acquired a new stake in Coterra Energy in the 4th quarter valued at $641,000. Allspring Global Investments Holdings LLC increased its holdings in Coterra Energy by 7.6% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 123,054 shares of the company's stock valued at $3,577,000 after purchasing an additional 8,726 shares in the last quarter. Finally, Vontobel Holding Ltd. acquired a new stake in Coterra Energy in the 1st quarter valued at $233,000. 87.92% of the stock is currently owned by institutional investors and hedge funds.

Coterra Energy Stock Down 2.9%

NYSE:CTRA opened at $23.69 on Friday. The company has a market capitalization of $18.08 billion, a price-to-earnings ratio of 13.77, a price-to-earnings-growth ratio of 0.33 and a beta of 0.33. Coterra Energy Inc. has a one year low of $22.30 and a one year high of $29.95. The stock has a 50-day simple moving average of $25.13 and a 200 day simple moving average of $26.21. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.86 and a current ratio of 0.90.

Coterra Energy (NYSE:CTRA - Get Free Report) last posted its quarterly earnings results on Monday, May 5th. The company reported $0.80 EPS for the quarter, topping analysts' consensus estimates of $0.71 by $0.09. The business had revenue of $924.00 million during the quarter, compared to the consensus estimate of $1.92 billion. Coterra Energy had a return on equity of 10.61% and a net margin of 21.67%. The company's revenue for the quarter was up 32.9% compared to the same quarter last year. During the same period last year, the firm earned $0.51 earnings per share. Sell-side analysts predict that Coterra Energy Inc. will post 1.54 EPS for the current fiscal year.

Coterra Energy Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, May 29th. Shareholders of record on Thursday, May 15th were issued a $0.22 dividend. The ex-dividend date of this dividend was Thursday, May 15th. This represents a $0.88 dividend on an annualized basis and a yield of 3.7%. Coterra Energy's dividend payout ratio (DPR) is currently 51.16%.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on CTRA. Pickering Energy Partners downgraded Coterra Energy from an "outperform" rating to a "neutral" rating in a report on Tuesday, May 20th. Raymond James Financial set a $38.00 price target on Coterra Energy and gave the company an "outperform" rating in a report on Friday, June 13th. Bank of America lowered their price target on Coterra Energy from $34.00 to $33.00 and set a "buy" rating for the company in a report on Tuesday, April 29th. Susquehanna decreased their price objective on shares of Coterra Energy from $34.00 to $32.00 and set a "positive" rating for the company in a research report on Tuesday, April 22nd. Finally, Morgan Stanley set a $28.00 price objective on shares of Coterra Energy in a research report on Tuesday, April 15th. Four research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $33.16.

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.

Want to see what other hedge funds are holding CTRA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Coterra Energy Inc. (NYSE:CTRA - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.