UMB Bank n.a. Reduces Stock Position in Coterra Energy Inc. $CTRA

UMB Bank n.a. lessened its position in Coterra Energy Inc. (NYSE:CTRA) by 17.8% during the second quarter, Holdings Channel.com reports. The fund owned 4,365 shares of the company’s stock after selling 947 shares during the period. UMB Bank n.a.’s holdings in Coterra Energy were worth $111,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Allspring Global Investments Holdings LLC increased its holdings in Coterra Energy by 7.6% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 123,054 shares of the company’s stock valued at $3,577,000 after purchasing an additional 8,726 shares during the period. Vontobel Holding Ltd. purchased a new position in shares of Coterra Energy during the first quarter valued at approximately $233,000. Janney Montgomery Scott LLC raised its holdings in shares of Coterra Energy by 9.4% during the first quarter. Janney Montgomery Scott LLC now owns 251,726 shares of the company’s stock valued at $7,275,000 after acquiring an additional 21,733 shares in the last quarter. Spire Wealth Management lifted its stake in Coterra Energy by 428.6% in the first quarter. Spire Wealth Management now owns 2,294 shares of the company’s stock worth $66,000 after acquiring an additional 1,860 shares during the period. Finally, State of Alaska Department of Revenue boosted its holdings in Coterra Energy by 2.8% in the first quarter. State of Alaska Department of Revenue now owns 86,307 shares of the company’s stock valued at $2,494,000 after acquiring an additional 2,325 shares in the last quarter. 87.92% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have commented on CTRA shares. The Goldman Sachs Group restated a “neutral” rating and issued a $31.00 price objective on shares of Coterra Energy in a report on Tuesday, July 1st. Scotiabank restated an “outperform” rating on shares of Coterra Energy in a report on Friday, July 11th. Piper Sandler lifted their price objective on Coterra Energy from $37.00 to $39.00 and gave the company an “overweight” rating in a research report on Thursday, August 14th. Barclays increased their target price on Coterra Energy from $35.00 to $37.00 and gave the stock an “overweight” rating in a research report on Monday, July 7th. Finally, Raymond James Financial restated an “outperform” rating and issued a $34.00 target price (down previously from $38.00) on shares of Coterra Energy in a research note on Thursday, September 11th. Fourteen investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat, Coterra Energy currently has an average rating of “Moderate Buy” and an average price target of $33.22.

Coterra Energy Price Performance

CTRA stock opened at $23.74 on Thursday. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.08 and a current ratio of 1.13. The firm has a 50 day moving average price of $23.96 and a 200-day moving average price of $25.18. Coterra Energy Inc. has a 52-week low of $22.46 and a 52-week high of $29.95. The firm has a market capitalization of $18.11 billion, a price-to-earnings ratio of 11.36, a PEG ratio of 0.33 and a beta of 0.34.

Coterra Energy (NYSE:CTRA) last posted its quarterly earnings data on Monday, August 4th. The company reported $0.48 earnings per share for the quarter, missing analysts’ consensus estimates of $0.50 by ($0.02). The company had revenue of $1.97 billion for the quarter, compared to the consensus estimate of $1.78 billion. Coterra Energy had a net margin of 23.80% and a return on equity of 10.99%. The firm’s quarterly revenue was up 54.6% on a year-over-year basis. During the same period last year, the business earned $0.37 EPS. Equities research analysts forecast that Coterra Energy Inc. will post 1.54 EPS for the current fiscal year.

Coterra Energy Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, August 28th. Investors of record on Thursday, August 14th were paid a $0.22 dividend. The ex-dividend date was Thursday, August 14th. This represents a $0.88 dividend on an annualized basis and a yield of 3.7%. 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.