Wesbanco Bank Inc. Makes New Investment in Coterra Energy Inc. $CTRA

Key Points

• Wesbanco Bank Inc. has purchased a new stake in Coterra Energy Inc. valued at approximately $350,000 by acquiring 13,807 shares during the second quarter.
• Coterra Energy reported earnings of $0.48 per share for the previous quarter, missing analysts' expectations of $0.50, but had a revenue increase of 54.6% compared to the same period last year.
• Analyst ratings for Coterra Energy are generally positive, with an average rating of "Moderate Buy" and a price target averaging $33.22 per share.

Wesbanco Bank Inc. purchased a new position in shares of Coterra Energy Inc. (NYSE:CTRA - Free Report) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 13,807 shares of the company's stock, valued at approximately $350,000.

A number of other institutional investors have also recently modified their holdings of CTRA. Janus Henderson Group PLC boosted its holdings in Coterra Energy by 2.3% in the 4th quarter. Janus Henderson Group PLC now owns 75,678 shares of the company's stock worth $1,933,000 after buying an additional 1,688 shares during the last quarter. Quantinno Capital Management LP boosted its holdings in Coterra Energy by 54.6% in the 4th quarter. Quantinno Capital Management LP now owns 114,538 shares of the company's stock worth $2,925,000 after buying an additional 40,442 shares during the last quarter. ProShare Advisors LLC boosted its holdings in Coterra Energy by 4.8% in the 4th quarter. ProShare Advisors LLC now owns 154,031 shares of the company's stock worth $3,934,000 after buying an additional 6,997 shares during the last quarter. Royal Bank of Canada boosted its holdings in Coterra Energy by 15.2% in the 4th quarter. Royal Bank of Canada now owns 3,628,900 shares of the company's stock worth $92,681,000 after buying an additional 477,739 shares during the last quarter. Finally, Siemens Fonds Invest GmbH acquired a new stake in Coterra Energy in the 4th quarter worth about $104,000. 87.92% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

CTRA has been the topic of several research analyst reports. Barclays lifted their price objective on Coterra Energy from $35.00 to $37.00 and gave the stock an "overweight" rating in a report on Monday, July 7th. Scotiabank reissued an "outperform" rating on shares of Coterra Energy in a research note on Friday, July 11th. The Goldman Sachs Group reissued a "neutral" rating and issued a $31.00 target price on shares of Coterra Energy in a research note on Tuesday, July 1st. Raymond James Financial reissued an "outperform" rating and issued a $34.00 target price (down from $38.00) on shares of Coterra Energy in a research note on Thursday, September 11th. Finally, Mizuho decreased their target price on shares of Coterra Energy from $36.00 to $33.00 and set an "outperform" rating on the stock in a research note on Monday, September 15th. Fourteen investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $33.22.

Coterra Energy Trading Down 3.4%

Shares of CTRA stock traded down $0.81 during trading on Friday, hitting $23.28. 17,897,680 shares of the stock traded hands, compared to its average volume of 5,012,900. The firm has a market capitalization of $17.77 billion, a P/E ratio of 11.14, a price-to-earnings-growth ratio of 0.34 and a beta of 0.34. 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 firm's fifty day moving average price is $24.03 and its 200-day moving average price is $25.23. Coterra Energy Inc. has a 52-week low of $22.46 and a 52-week high of $29.95.

Coterra Energy (NYSE:CTRA - Get Free Report) last announced its earnings results on Monday, August 4th. The company reported $0.48 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.50 by ($0.02). The firm had revenue of $1.97 billion during the quarter, compared to analysts' expectations of $1.78 billion. Coterra Energy had a net margin of 23.80% and a return on equity of 10.99%. The firm's revenue for the quarter was up 54.6% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.37 EPS. As a group, research analysts forecast that Coterra Energy Inc. will post 1.54 earnings per share for the current fiscal year.

Coterra Energy Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, August 28th. Shareholders of record on Thursday, August 14th were given a $0.22 dividend. The ex-dividend date of this dividend was Thursday, August 14th. This represents a $0.88 dividend on an annualized basis and a yield of 3.8%. Coterra Energy's payout ratio is presently 42.11%.

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.