Private Trust Co. NA Purchases 500 Shares of Coterra Energy Inc. (NYSE:CTRA)

Private Trust Co. NA boosted its position in Coterra Energy Inc. (NYSE:CTRA) by 23.4% during the 1st quarter, Holdings Channel reports. The fund owned 2,640 shares of the company’s stock after buying an additional 500 shares during the period. Private Trust Co. NA’s holdings in Coterra Energy were worth $76,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Investors Research Corp boosted its holdings in Coterra Energy by 45.2% in the first quarter. Investors Research Corp now owns 1,311 shares of the company’s stock worth $38,000 after acquiring an additional 408 shares in the last quarter. VSM Wealth Advisory LLC bought a new position in Coterra Energy in the fourth quarter worth approximately $46,000. Alpine Bank Wealth Management bought a new position in Coterra Energy in the first quarter worth approximately $47,000. Nemes Rush Group LLC bought a new position in Coterra Energy in the fourth quarter worth approximately $48,000. Finally, Optiver Holding B.V. purchased a new stake in shares of Coterra Energy in the fourth quarter worth approximately $50,000. Institutional investors own 87.92% of the company’s stock.

Coterra Energy Price Performance

Shares of NYSE CTRA opened at $25.17 on Wednesday. The stock has a market cap of $19.21 billion, a PE ratio of 14.63, a price-to-earnings-growth ratio of 0.35 and a beta of 0.35. 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 debt-to-equity ratio of 0.30, a quick ratio of 0.86 and a current ratio of 0.90. The stock has a fifty day moving average of $25.17 and a 200-day moving average of $26.44.

Coterra Energy (NYSE:CTRA) last announced its quarterly earnings results on Monday, May 5th. The company reported $0.80 earnings per share for the quarter, beating the consensus estimate of $0.71 by $0.09. The company 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% compared to the same quarter last year. During the same period in the previous year, the business earned $0.51 earnings per share. Equities research analysts anticipate that Coterra Energy Inc. will post 1.54 earnings per share for the current year.

Coterra Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, May 29th. Investors of record on Thursday, May 15th were given a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a yield of 3.50%. The ex-dividend date was Thursday, May 15th. Coterra Energy’s payout ratio is 51.16%.

Analysts Set New Price Targets

Several analysts have recently commented on CTRA shares. The Goldman Sachs Group reissued a “neutral” rating and issued a $31.00 price objective on shares of Coterra Energy in a research note on Tuesday, July 1st. Bank of America dropped their price target on Coterra Energy from $34.00 to $33.00 and set a “buy” rating on the stock in a report on Tuesday, April 29th. Pickering Energy Partners lowered Coterra Energy from an “outperform” rating to a “neutral” rating in a report on Tuesday, May 20th. Barclays lifted their price target on Coterra Energy from $35.00 to $37.00 and gave the stock an “overweight” rating in a report on Monday. Finally, Piper Sandler dropped their price target on Coterra Energy from $37.00 to $36.00 and set an “overweight” rating on the stock in a report on Tuesday, May 13th. Four investment analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $33.10.

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.