Coterra Energy Inc. (NYSE:CTRA) Shares Bought by Keybank National Association OH

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

Other hedge funds and other institutional investors have also made changes to their positions in the company. Sterling Capital Management LLC grew its holdings in Coterra Energy by 5,744.3% during the 4th quarter. Sterling Capital Management LLC now owns 3,661,696 shares of the company's stock valued at $93,520,000 after buying an additional 3,599,042 shares in the last quarter. Envestnet Asset Management Inc. grew its holdings in Coterra Energy by 117.3% during the 4th quarter. Envestnet Asset Management Inc. now owns 4,817,375 shares of the company's stock valued at $123,036,000 after buying an additional 2,600,801 shares in the last quarter. Raymond James Financial Inc. purchased a new position in Coterra Energy during the 4th quarter valued at approximately $61,461,000. Zurich Insurance Group Ltd FI purchased a new position in Coterra Energy during the 4th quarter valued at approximately $57,877,000. Finally, Man Group plc grew its holdings in Coterra Energy by 81.4% during the 4th quarter. Man Group plc now owns 4,842,621 shares of the company's stock valued at $123,681,000 after buying an additional 2,172,931 shares in the last quarter. Institutional investors own 87.92% of the company's stock.

Analysts Set New Price Targets

CTRA has been the subject of a number of recent research reports. Piper Sandler dropped their target price on Coterra Energy from $37.00 to $36.00 and set an "overweight" rating for the company in a report on Tuesday, May 13th. Johnson Rice upgraded Coterra Energy from a "hold" rating to an "accumulate" rating and lifted their target price for the stock from $34.00 to $37.00 in a report on Wednesday, March 12th. Morgan Stanley set a $28.00 target price on Coterra Energy in a report on Tuesday, April 15th. Susquehanna dropped their target price on Coterra Energy from $34.00 to $32.00 and set a "positive" rating for the company in a report on Tuesday, April 22nd. Finally, JPMorgan Chase & Co. dropped their target price on Coterra Energy from $36.00 to $33.00 and set an "overweight" rating for the company in a report on Thursday, March 13th. Four analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Coterra Energy has a consensus rating of "Moderate Buy" and a consensus target price of $33.10.

Coterra Energy Stock Down 1.5%

Shares of NYSE CTRA traded down $0.39 during mid-day trading on Monday, reaching $24.83. 7,058,794 shares of the company were exchanged, compared to its average volume of 6,512,849. The company has a quick ratio of 0.86, a current ratio of 0.90 and a debt-to-equity ratio of 0.30. The stock has a market cap of $18.95 billion, a price-to-earnings ratio of 13.27, 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. The firm has a 50-day moving average of $25.18 and a 200 day moving average of $26.45.

Coterra Energy (NYSE:CTRA - Get Free Report) last issued its quarterly earnings data on Monday, May 5th. The company reported $0.80 earnings per share for the quarter, topping analysts' consensus estimates of $0.71 by $0.09. The firm 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 firm's quarterly revenue was up 32.9% on a year-over-year basis. During the same period in the prior year, the business posted $0.51 EPS. On average, research analysts expect that Coterra Energy Inc. will post 1.54 earnings per share for the current year.

Coterra Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 29th. Investors of record on Thursday, May 15th were paid a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a dividend yield of 3.54%. The ex-dividend date of this dividend was Thursday, May 15th. Coterra Energy's dividend payout ratio (DPR) is currently 51.16%.

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.