Amalgamated Bank Increases Stake in Coterra Energy Inc. (NYSE:CTRA)

Amalgamated Bank boosted its position in shares of Coterra Energy Inc. (NYSE:CTRA) by 1.6% during the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 143,289 shares of the company’s stock after purchasing an additional 2,191 shares during the quarter. Amalgamated Bank’s holdings in Coterra Energy were worth $4,141,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of CTRA. Wellington Management Group LLP lifted its stake in Coterra Energy by 1.9% during the 4th quarter. Wellington Management Group LLP now owns 72,528,767 shares of the company’s stock valued at $1,852,385,000 after acquiring an additional 1,318,754 shares during the period. Geode Capital Management LLC lifted its stake in Coterra Energy by 0.5% during the 4th quarter. Geode Capital Management LLC now owns 19,096,761 shares of the company’s stock valued at $486,528,000 after acquiring an additional 96,059 shares during the period. Invesco Ltd. lifted its stake in Coterra Energy by 9.0% during the 4th quarter. Invesco Ltd. now owns 12,232,484 shares of the company’s stock valued at $312,418,000 after acquiring an additional 1,011,166 shares during the period. Schroder Investment Management Group lifted its stake in Coterra Energy by 18.2% during the 4th quarter. Schroder Investment Management Group now owns 11,776,525 shares of the company’s stock valued at $300,537,000 after acquiring an additional 1,809,615 shares during the period. Finally, Northern Trust Corp lifted its stake in Coterra Energy by 7.0% during the 4th quarter. Northern Trust Corp now owns 8,777,764 shares of the company’s stock valued at $224,184,000 after acquiring an additional 571,193 shares during the period. 87.92% of the stock is owned by hedge funds and other institutional investors.

Coterra Energy Trading Up 0.6%

Shares of CTRA opened at $25.19 on Friday. The company has a debt-to-equity ratio of 0.30, a current ratio of 0.90 and a quick ratio of 0.86. Coterra Energy Inc. has a 1 year low of $22.30 and a 1 year high of $29.95. The company has a 50 day simple moving average of $25.20 and a two-hundred day simple moving average of $26.40. The firm has a market cap of $19.22 billion, a P/E ratio of 14.64, a price-to-earnings-growth ratio of 0.34 and a beta of 0.35.

Coterra Energy (NYSE:CTRA) last announced its quarterly earnings data on Monday, May 5th. The company reported $0.80 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.71 by $0.09. Coterra Energy had a net margin of 21.67% and a return on equity of 10.61%. The business had revenue of $924.00 million during the quarter, compared to analyst estimates of $1.92 billion. During the same period last year, the firm posted $0.51 EPS. The company’s revenue was up 32.9% on a year-over-year basis. On average, equities analysts expect that Coterra Energy Inc. will post 1.54 earnings per share for the current fiscal year.

Coterra Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 29th. Shareholders of record on Thursday, May 15th were issued a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a yield of 3.49%. The ex-dividend date of this dividend was Thursday, May 15th. Coterra Energy’s dividend payout ratio (DPR) is currently 51.16%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the stock. Susquehanna lowered their price objective on shares of Coterra Energy from $34.00 to $32.00 and set a “positive” rating on the stock in a research note on Tuesday, April 22nd. Barclays lowered their price objective on shares of Coterra Energy from $37.00 to $35.00 and set an “overweight” rating on the stock in a research note on Tuesday, May 6th. Morgan Stanley set a $28.00 price objective on shares of Coterra Energy in a research note on Tuesday, April 15th. JPMorgan Chase & Co. decreased their target price on shares of Coterra Energy from $36.00 to $33.00 and set an “overweight” rating on the stock in a research note on Thursday, March 13th. Finally, Wells Fargo & Company decreased their target price on shares of Coterra Energy from $33.00 to $31.00 and set an “overweight” rating on the stock in a research note on Monday, June 16th. Four equities research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $33.00.

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.