Coterra Energy Inc. (NYSE:CTRA) Shares Sold by Swiss National Bank

Key Points

• Swiss National Bank has reduced its holdings in Coterra Energy Inc. by 0.5%, now owning approximately 2,077,020 shares valued at $60 million.
• Analysts have mixed opinions on Coterra Energy, with Barclays raising their price target to $37.00 while Mizuho lowered it to $36.00, and the stock currently holds a consensus rating of Moderate Buy.
• Coterra Energy recently declared a quarterly dividend of $0.22 per share, with an annual yield of 3.7%, reflecting a payout ratio of 42.11%.

Swiss National Bank reduced its holdings in Coterra Energy Inc. (NYSE:CTRA - Free Report) by 0.5% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,077,020 shares of the company's stock after selling 11,400 shares during the quarter. Swiss National Bank owned approximately 0.27% of Coterra Energy worth $60,026,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in CTRA. Martingale Asset Management L P acquired a new position in Coterra Energy in the fourth quarter valued at $249,000. Bessemer Group Inc. increased its stake in Coterra Energy by 8.7% in 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 last quarter. Capital Fund Management S.A. acquired a new position in Coterra Energy in the fourth quarter valued at $283,000. Rockefeller Capital Management L.P. increased its stake in Coterra Energy by 10.9% in 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 last quarter. Finally, Townsquare Capital LLC increased its stake in Coterra Energy by 16.2% in 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 last quarter. 87.92% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts recently commented on the company. Pickering Energy Partners lowered Coterra Energy from an "outperform" rating to a "neutral" rating in a research note on Tuesday, May 20th. Barclays upped their price target on Coterra Energy from $35.00 to $37.00 and gave the stock an "overweight" rating in a research note on Monday, July 7th. Mizuho dropped 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. Scotiabank restated an "outperform" rating on shares of Coterra Energy in a research note on Friday, July 11th. Finally, Raymond James Financial set a $38.00 price target on Coterra Energy and gave the stock an "outperform" rating in a research note on Friday, June 13th. Four analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $33.16.

Coterra Energy Trading Up 1.0%

Shares of CTRA opened at $24.01 on Monday. The company has a market capitalization of $18.32 billion, a P/E ratio of 11.49, a P/E/G ratio of 0.32 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 company has a debt-to-equity ratio of 0.29, a quick ratio of 1.08 and a current ratio of 1.13. The stock has a 50-day moving average price of $25.08 and a 200 day moving average price of $25.98.

Coterra Energy (NYSE:CTRA - Get Free Report) last issued its quarterly earnings results on Monday, August 4th. The company reported $0.48 EPS for the quarter, missing analysts' consensus estimates of $0.50 by ($0.02). The business had revenue of $1.97 billion during the quarter, compared to analysts' expectations of $1.78 billion. Coterra Energy had a net margin of 23.80% and a return on equity of 10.99%. 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 company posted $0.37 EPS. Sell-side analysts forecast that Coterra Energy Inc. will post 1.54 EPS for the current fiscal year.

Coterra Energy Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 28th. Investors of record on Thursday, August 14th will be issued a $0.22 dividend. The ex-dividend date of this dividend 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 is currently 42.11%.

Coterra Energy 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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