Bank of New York Mellon Corp Raises Position in Coterra Energy Inc. $CTRA

Bank of New York Mellon Corp increased its stake in shares of Coterra Energy Inc. (NYSE:CTRA) by 34.0% during the 3rd quarter, Holdings Channel.com reports. The fund owned 6,865,527 shares of the company’s stock after purchasing an additional 1,741,125 shares during the quarter. Bank of New York Mellon Corp’s holdings in Coterra Energy were worth $162,370,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. AAFMAA Wealth Management & Trust LLC grew its holdings in Coterra Energy by 1.0% in the 3rd quarter. AAFMAA Wealth Management & Trust LLC now owns 43,009 shares of the company’s stock worth $1,017,000 after acquiring an additional 429 shares during the last quarter. Trust Co. of Vermont grew its stake in shares of Coterra Energy by 1.5% in the third quarter. Trust Co. of Vermont now owns 30,832 shares of the company’s stock worth $729,000 after purchasing an additional 454 shares during the last quarter. GAMMA Investing LLC grew its stake in shares of Coterra Energy by 2.1% in the third quarter. GAMMA Investing LLC now owns 22,763 shares of the company’s stock worth $538,000 after purchasing an additional 462 shares during the last quarter. Wellington Shields Capital Management LLC increased its holdings in Coterra Energy by 5.4% during the 2nd quarter. Wellington Shields Capital Management LLC now owns 9,725 shares of the company’s stock valued at $247,000 after purchasing an additional 500 shares during the period. Finally, Elevation Point Wealth Partners LLC raised its position in Coterra Energy by 1.1% during the 2nd quarter. Elevation Point Wealth Partners LLC now owns 50,333 shares of the company’s stock valued at $1,277,000 after purchasing an additional 531 shares during the last quarter. Institutional investors own 87.92% of the company’s stock.

Coterra Energy Price Performance

NYSE CTRA opened at $28.84 on Friday. The stock has a market capitalization of $21.96 billion, a price-to-earnings ratio of 13.29, a PEG ratio of 0.66 and a beta of 0.36. Coterra Energy Inc. has a 1-year low of $22.33 and a 1-year high of $29.82. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.02 and a quick ratio of 0.98. The business’s fifty day moving average price is $26.31 and its 200-day moving average price is $24.90.

Coterra Energy (NYSE:CTRA) last issued its quarterly earnings data on Monday, November 3rd. The company reported $0.41 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.02). Coterra Energy had a net margin of 23.25% and a return on equity of 11.23%. The business had revenue of $1.82 billion for the quarter, compared to the consensus estimate of $1.83 billion. During the same period in the previous year, the firm earned $0.32 EPS. The company’s revenue was up 33.7% on a year-over-year basis. On average, equities analysts predict that Coterra Energy Inc. will post 1.54 earnings per share for the current year.

Coterra Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, November 26th. Shareholders of record on Thursday, November 13th were paid a $0.22 dividend. The ex-dividend date of this dividend was Thursday, November 13th. This represents a $0.88 dividend on an annualized basis and a yield of 3.1%. Coterra Energy’s payout ratio is presently 40.55%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the stock. Barclays dropped their target price on shares of Coterra Energy from $35.00 to $34.00 and set an “overweight” rating for the company in a research report on Wednesday, January 21st. Susquehanna raised their price objective on shares of Coterra Energy from $31.00 to $32.00 and gave the stock a “positive” rating in a report on Monday. Stephens upped their target price on Coterra Energy from $33.00 to $34.00 and gave the stock an “overweight” rating in a report on Thursday. Siebert Williams Shank increased their target price on Coterra Energy from $32.00 to $35.00 and gave the stock a “buy” rating in a research report on Monday, January 26th. Finally, Raymond James Financial raised their target price on Coterra Energy from $28.00 to $31.00 and gave the company an “outperform” rating in a research note on Monday, November 24th. Sixteen investment analysts have rated the stock with a Buy rating, six have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $32.81.

Coterra Energy Company Profile

Coterra Energy (NYSE: CTRA) is an independent oil and natural gas exploration and production company focused on the development, production and optimization of onshore hydrocarbon resources in the United States. The company’s operations center on the exploration, drilling, completion and production of crude oil, natural gas and natural gas liquids (NGLs), with an emphasis on maximizing operational efficiency and capital discipline across its asset base.

Its business activities include identifying and developing resource-rich acreage, operating producing wells, managing reservoir performance and marketing produced hydrocarbons to a range of midstream and energy customers.