M&T Bank Corp Acquires 40,567 Shares of Coterra Energy Inc. $CTRA

Key Points

• M&T Bank Corp increased its stake in Coterra Energy by 24.6% in Q4, acquiring 40,567 shares to hold 205,686 shares worth $5.414 million.
• Coterra missed quarterly expectations, reporting $0.61 EPS versus $0.89 expected and revenue of $1.95 billion versus $2.25 billion consensus.
• The company pays a quarterly dividend of $0.22 (a 2.7% yield with a 38.6% payout ratio) and trades at a PE of 14.3; analysts' consensus is a Moderate Buy with a $37.32 target.

M&T Bank Corp increased its holdings in shares of Coterra Energy Inc. (NYSE:CTRA - Free Report) by 24.6% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 205,686 shares of the company's stock after acquiring an additional 40,567 shares during the quarter. M&T Bank Corp's holdings in Coterra Energy were worth $5,414,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of the business. GoalVest Advisory LLC bought a new stake in shares of Coterra Energy in the fourth quarter valued at $28,000. Winnow Wealth LLC bought a new stake in shares of Coterra Energy in the third quarter valued at $29,000. Atlantic Union Bankshares Corp bought a new stake in shares of Coterra Energy in the third quarter valued at $29,000. Triumph Capital Management bought a new stake in shares of Coterra Energy in the third quarter valued at $31,000. Finally, City Holding Co. raised its stake in shares of Coterra Energy by 144.4% in the fourth quarter. City Holding Co. now owns 1,222 shares of the company's stock valued at $32,000 after buying an additional 722 shares during the period. 87.92% of the stock is currently owned by institutional investors.

Coterra Energy Price Performance

Shares of NYSE CTRA opened at $32.60 on Thursday. The stock has a market cap of $24.75 billion, a PE ratio of 14.30, a price-to-earnings-growth ratio of 0.52 and a beta of 0.32. Coterra Energy Inc. has a fifty-two week low of $22.33 and a fifty-two week high of $36.88. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.16 and a current ratio of 1.19. The stock has a fifty day moving average of $33.02 and a 200-day moving average of $28.91.

Coterra Energy (NYSE:CTRA - Get Free Report) last announced its quarterly earnings results on Monday, May 4th. The company reported $0.61 earnings per share for the quarter, missing the consensus estimate of $0.89 by ($0.28). Coterra Energy had a net margin of 22.46% and a return on equity of 10.43%. The company had revenue of $1.95 billion during the quarter, compared to analysts' expectations of $2.25 billion. Equities research analysts anticipate that Coterra Energy Inc. will post 2.87 earnings per share for the current year.

Coterra Energy Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 25th. Investors of record on Wednesday, March 11th were given a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a yield of 2.7%. The ex-dividend date was Wednesday, March 11th. Coterra Energy's payout ratio is presently 38.60%.

Analyst Ratings Changes

Several analysts have issued reports on the company. Texas Capital lowered Coterra Energy from a "strong-buy" rating to a "hold" rating in a research note on Monday, March 9th. Scotiabank boosted their target price on Coterra Energy from $31.00 to $32.00 and gave the company a "sector perform" rating in a research note on Wednesday, April 22nd. Zacks Research upgraded Coterra Energy from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, April 15th. Roth Mkm boosted their target price on Coterra Energy from $28.00 to $32.00 and gave the company a "neutral" rating in a research note on Wednesday, April 15th. Finally, Wolfe Research boosted their target price on Coterra Energy from $45.00 to $46.00 and gave the company an "outperform" rating in a research note on Monday, April 6th. One analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and nine have assigned a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $37.32.

Coterra Energy Company Profile

Coterra Energy NYSE: CTRA is an independent oil and natural gas exploration and production company focused on the development, production and optimization of onshore hydrocarbon resources in the United States. The company’s operations center on the exploration, drilling, completion and production of crude oil, natural gas and natural gas liquids (NGLs), with an emphasis on maximizing operational efficiency and capital discipline across its asset base.

Its business activities include identifying and developing resource-rich acreage, operating producing wells, managing reservoir performance and marketing produced hydrocarbons to a range of midstream and energy customers.

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