Truist Financial Corp Reduces Stock Holdings in Coterra Energy Inc. (NYSE:CTRA)

Truist Financial Corp trimmed its holdings in shares of Coterra Energy Inc. (NYSE:CTRA - Free Report) by 1.8% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,588,189 shares of the company's stock after selling 28,471 shares during the quarter. Truist Financial Corp owned approximately 0.21% of Coterra Energy worth $45,899,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in the business. Investors Research Corp raised its stake in Coterra Energy by 45.2% in the 1st quarter. Investors Research Corp now owns 1,311 shares of the company's stock valued at $38,000 after purchasing an additional 408 shares during the last quarter. VSM Wealth Advisory LLC acquired a new position in Coterra Energy in the 4th quarter valued at $46,000. Catalyst Capital Advisors LLC acquired a new stake in shares of Coterra Energy in the 1st quarter worth $46,000. Alpine Bank Wealth Management acquired a new stake in shares of Coterra Energy in the 1st quarter worth $47,000. Finally, Nemes Rush Group LLC acquired a new stake in shares of Coterra Energy in the 4th quarter worth $48,000. 87.92% of the stock is owned by institutional investors and hedge funds.

Coterra Energy Stock Down 1.5%

Shares of CTRA traded down $0.39 during midday trading on Monday, hitting $24.83. The company had a trading volume of 7,058,794 shares, compared to its average volume of 6,512,826. The company's 50-day simple moving average is $25.20 and its 200-day simple moving average is $26.44. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.86 and a current ratio of 0.90. The firm has a market capitalization of $18.95 billion, a P/E ratio of 14.44, a P/E/G ratio of 0.34 and a beta of 0.35. Coterra Energy Inc. has a 1 year low of $22.30 and a 1 year high of $29.95.

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

Coterra Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 29th. Stockholders of record on Thursday, May 15th were paid a $0.22 dividend. This represents a $0.88 annualized dividend and a dividend yield of 3.54%. The ex-dividend date was Thursday, May 15th. Coterra Energy's payout ratio is presently 51.16%.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the company. The Goldman Sachs Group reaffirmed a "neutral" rating and issued a $31.00 target price on shares of Coterra Energy in a research note on Tuesday, July 1st. Wells Fargo & Company cut their target price on Coterra Energy from $33.00 to $31.00 and set an "overweight" rating for the company in a research note on Monday, June 16th. Susquehanna cut their target price on Coterra Energy from $34.00 to $32.00 and set a "positive" rating for the company in a research note on Tuesday, April 22nd. Pickering Energy Partners downgraded Coterra Energy from an "outperform" rating to a "neutral" rating in a research note on Tuesday, May 20th. Finally, Scotiabank cut their target price on Coterra Energy from $38.00 to $33.00 and set a "sector outperform" rating for the company in a research note on Friday, April 11th. Four investment analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Coterra Energy presently has a consensus rating of "Moderate Buy" and an average target price of $33.10.

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.