Keybank National Association OH Acquires 12,743 Shares of Coterra Energy Inc. (NYSE:CTRA)

Keybank National Association OH increased its holdings in shares of Coterra Energy Inc. (NYSE:CTRA - Free Report) by 29.6% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 55,785 shares of the company's stock after buying an additional 12,743 shares during the period. Keybank National Association OH's holdings in Coterra Energy were worth $1,612,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in CTRA. Wellington Management Group LLP grew its holdings in Coterra Energy by 1.9% during the 4th quarter. Wellington Management Group LLP now owns 72,528,767 shares of the company's stock worth $1,852,385,000 after acquiring an additional 1,318,754 shares in the last quarter. Geode Capital Management LLC grew its holdings in Coterra Energy by 0.5% during the 4th quarter. Geode Capital Management LLC now owns 19,096,761 shares of the company's stock worth $486,528,000 after acquiring an additional 96,059 shares in the last quarter. Invesco Ltd. grew its holdings in Coterra Energy by 9.0% during the 4th quarter. Invesco Ltd. now owns 12,232,484 shares of the company's stock worth $312,418,000 after acquiring an additional 1,011,166 shares in the last quarter. Schroder Investment Management Group grew its holdings in Coterra Energy by 18.2% during the 4th quarter. Schroder Investment Management Group now owns 11,776,525 shares of the company's stock worth $300,537,000 after acquiring an additional 1,809,615 shares in the last quarter. Finally, Northern Trust Corp grew its holdings in Coterra Energy by 7.0% during the 4th quarter. Northern Trust Corp now owns 8,777,764 shares of the company's stock worth $224,184,000 after acquiring an additional 571,193 shares in the last quarter. 87.92% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

CTRA has been the subject of several research analyst reports. JPMorgan Chase & Co. lowered their target price on shares of Coterra Energy from $36.00 to $33.00 and set an "overweight" rating for the company in a report on Thursday, March 13th. Piper Sandler cut their price objective on shares of Coterra Energy from $37.00 to $36.00 and set an "overweight" rating for the company in a research report on Tuesday, May 13th. Bank of America cut their price objective on shares of Coterra Energy from $34.00 to $33.00 and set a "buy" rating for the company in a research report on Tuesday, April 29th. Barclays cut their price target on shares of Coterra Energy from $37.00 to $35.00 and set an "overweight" rating for the company in a report on Tuesday, May 6th. Finally, Wells Fargo & Company lowered their price objective on shares of Coterra Energy from $33.00 to $31.00 and set an "overweight" rating on the stock in a research note on Monday, June 16th. Four investment analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, Coterra Energy currently has a consensus rating of "Moderate Buy" and an average target price of $33.00.

Coterra Energy Price Performance

CTRA stock traded up $0.16 during trading on Friday, hitting $25.19. The company had a trading volume of 3,494,277 shares, compared to its average volume of 6,510,635. The firm has a market capitalization of $19.22 billion, a price-to-earnings ratio of 14.64, a P/E/G ratio of 0.34 and a beta of 0.35. The business has a 50 day moving average of $25.20 and a 200 day moving average of $26.42. Coterra Energy Inc. has a fifty-two week low of $22.30 and a fifty-two week high of $29.95. The company has a current ratio of 0.90, a quick ratio of 0.86 and a debt-to-equity ratio of 0.30.

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

Coterra Energy Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, May 29th. Stockholders of record on Thursday, May 15th were issued a $0.22 dividend. The ex-dividend date was Thursday, May 15th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 3.49%. Coterra Energy's dividend payout ratio is 51.16%.

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.