Commerzbank Aktiengesellschaft FI Purchases New Position in Coterra Energy Inc. (NYSE:CTRA)

Commerzbank Aktiengesellschaft FI purchased a new stake in shares of Coterra Energy Inc. (NYSE:CTRA) during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 29,111 shares of the company’s stock, valued at approximately $698,000.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Fifth Third Bancorp increased its position in shares of Coterra Energy by 0.6% during the second quarter. Fifth Third Bancorp now owns 71,138 shares of the company’s stock valued at $1,897,000 after buying an additional 399 shares during the period. TCW Group Inc. grew its holdings in Coterra Energy by 4.0% in the second quarter. TCW Group Inc. now owns 10,447 shares of the company’s stock worth $279,000 after purchasing an additional 404 shares during the period. Redwood Wealth Management Group LLC grew its holdings in Coterra Energy by 2.3% in the first quarter. Redwood Wealth Management Group LLC now owns 18,974 shares of the company’s stock worth $529,000 after purchasing an additional 429 shares during the period. Cornercap Investment Counsel Inc. grew its holdings in Coterra Energy by 0.7% in the second quarter. Cornercap Investment Counsel Inc. now owns 66,280 shares of the company’s stock worth $1,768,000 after purchasing an additional 436 shares during the period. Finally, Quent Capital LLC grew its holdings in Coterra Energy by 8.1% in the first quarter. Quent Capital LLC now owns 5,923 shares of the company’s stock worth $165,000 after purchasing an additional 445 shares during the period. Hedge funds and other institutional investors own 87.92% of the company’s stock.

Coterra Energy Stock Up 0.7 %

Shares of Coterra Energy stock opened at $23.68 on Thursday. The company has a market cap of $17.62 billion, a price-to-earnings ratio of 13.69, a price-to-earnings-growth ratio of 1.41 and a beta of 0.22. The company’s 50 day moving average is $23.84 and its 200 day moving average is $25.88. Coterra Energy Inc. has a twelve month low of $22.30 and a twelve month high of $28.90. The company has a quick ratio of 1.38, a current ratio of 1.40 and a debt-to-equity ratio of 0.16.

Coterra Energy (NYSE:CTRA) last issued its quarterly earnings data on Thursday, August 1st. The company reported $0.37 earnings per share for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.02). The company had revenue of $1.27 billion for the quarter, compared to the consensus estimate of $1.32 billion. Coterra Energy had a net margin of 23.18% and a return on equity of 10.48%. The firm’s revenue for the quarter was up 7.3% on a year-over-year basis. During the same quarter last year, the company earned $0.38 EPS. Research analysts anticipate that Coterra Energy Inc. will post 1.72 EPS for the current year.

Coterra Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 29th. Stockholders of record on Thursday, August 15th were paid a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a dividend yield of 3.55%. The ex-dividend date was Thursday, August 15th. Coterra Energy’s dividend payout ratio is presently 48.55%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the stock. Truist Financial cut their price objective on shares of Coterra Energy from $34.00 to $31.00 and set a “buy” rating on the stock in a report on Monday, September 30th. BMO Capital Markets upgraded shares of Coterra Energy to a “hold” rating in a report on Wednesday, July 3rd. Piper Sandler cut their price objective on shares of Coterra Energy from $39.00 to $31.00 and set an “overweight” rating on the stock in a report on Thursday, August 15th. JPMorgan Chase & Co. dropped their target price on shares of Coterra Energy from $31.00 to $26.00 and set an “overweight” rating on the stock in a research note on Thursday, September 12th. Finally, Wells Fargo & Company dropped their target price on shares of Coterra Energy from $34.00 to $32.00 and set an “overweight” rating on the stock in a research note on Tuesday, October 1st. Two research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Coterra Energy has an average rating of “Moderate Buy” and an average price target of $32.06.

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.