US Bancorp DE Purchases 35,880 Shares of Coterra Energy Inc. $CTRA

Key Points

• US Bancorp DE increased its holdings in Coterra Energy Inc. by 1.9%, acquiring an additional 35,880 shares, raising its total ownership to approximately 1.91 million shares valued at around $48.5 million.
• Coterra Energy reported earnings of $0.48 per share for the last quarter, falling short of analysts' expectations, but generated revenue of $1.97 billion, surpassing estimates by roughly $190 million.
• The company recently declared a quarterly dividend of $0.22 per share, resulting in an annual yield of 3.7% and a payout ratio of 42.11%.

US Bancorp DE lifted its position in Coterra Energy Inc. (NYSE:CTRA - Free Report) by 1.9% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,910,495 shares of the company's stock after purchasing an additional 35,880 shares during the quarter. US Bancorp DE owned 0.25% of Coterra Energy worth $48,488,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Cornerstone Planning Group LLC raised its holdings in shares of Coterra Energy by 175.6% during the 1st quarter. Cornerstone Planning Group LLC now owns 871 shares of the company's stock valued at $25,000 after buying an additional 555 shares in the last quarter. Raleigh Capital Management Inc. raised its holdings in shares of Coterra Energy by 463.5% during the 1st quarter. Raleigh Capital Management Inc. now owns 896 shares of the company's stock valued at $26,000 after buying an additional 737 shares in the last quarter. Banque Cantonale Vaudoise purchased a new position in shares of Coterra Energy during the 1st quarter valued at about $29,000. REAP Financial Group LLC raised its holdings in shares of Coterra Energy by 190.1% during the 2nd quarter. REAP Financial Group LLC now owns 1,108 shares of the company's stock valued at $28,000 after buying an additional 726 shares in the last quarter. Finally, Wayfinding Financial LLC purchased a new position in shares of Coterra Energy during the 1st quarter valued at about $34,000. 87.92% of the stock is owned by hedge funds and other institutional investors.

Coterra Energy Stock Down 2.6%

NYSE CTRA opened at $23.61 on Friday. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.13 and a quick ratio of 1.08. The stock has a market capitalization of $18.01 billion, a PE ratio of 11.29, a PEG ratio of 0.34 and a beta of 0.29. Coterra Energy Inc. has a 1 year low of $22.46 and a 1 year high of $29.95. The business's 50-day moving average is $23.92 and its 200 day moving average is $24.85.

Coterra Energy (NYSE:CTRA - Get Free Report) last posted its earnings results on Monday, August 4th. The company reported $0.48 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.50 by ($0.02). Coterra Energy had a return on equity of 10.99% and a net margin of 23.80%.The business had revenue of $1.97 billion during the quarter, compared to the consensus estimate of $1.78 billion. During the same period in the previous year, the business earned $0.37 earnings per share. The firm's revenue for the quarter was up 54.6% compared to the same quarter last year. Sell-side analysts forecast 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, August 28th. Shareholders of record on Thursday, August 14th were issued a $0.22 dividend. The ex-dividend date was Thursday, August 14th. This represents a $0.88 annualized dividend and a yield of 3.7%. Coterra Energy's dividend payout ratio is 42.11%.

Analyst Upgrades and Downgrades

CTRA has been the topic of a number of research reports. JPMorgan Chase & Co. raised their price objective on Coterra Energy from $33.00 to $35.00 and gave the company an "overweight" rating in a report on Tuesday. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Coterra Energy in a research note on Wednesday. Scotiabank reduced their price objective on Coterra Energy from $35.00 to $32.00 and set a "sector outperform" rating on the stock in a research note on Thursday. Mizuho reduced their price objective on Coterra Energy from $36.00 to $33.00 and set an "outperform" rating on the stock in a research note on Monday, September 15th. Finally, Wells Fargo & Company raised their price objective on Coterra Energy from $32.00 to $33.00 and gave the company an "overweight" rating in a research note on Thursday, August 14th. Fourteen equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company's stock. According to data from MarketBeat, Coterra Energy presently has an average rating of "Moderate Buy" and a consensus price target of $33.06.

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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