BNP PARIBAS ASSET MANAGEMENT Holding S.A. Cuts Stock Holdings in Coterra Energy Inc. (NYSE:CTRA)

BNP PARIBAS ASSET MANAGEMENT Holding S.A. lowered its stake in Coterra Energy Inc. (NYSE:CTRA) by 5.3% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 22,287 shares of the company’s stock after selling 1,255 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A.’s holdings in Coterra Energy were worth $594,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. International Assets Investment Management LLC bought a new stake in Coterra Energy in the fourth quarter valued at approximately $1,396,000. Savant Capital LLC raised its holdings in Coterra Energy by 48.3% during the 4th quarter. Savant Capital LLC now owns 12,086 shares of the company’s stock valued at $308,000 after buying an additional 3,939 shares during the last quarter. Amalgamated Bank boosted its position in Coterra Energy by 8.3% during the 4th quarter. Amalgamated Bank now owns 216,079 shares of the company’s stock valued at $5,514,000 after buying an additional 16,497 shares during the period. Axxcess Wealth Management LLC grew its holdings in Coterra Energy by 70.0% in the 4th quarter. Axxcess Wealth Management LLC now owns 37,452 shares of the company’s stock worth $956,000 after acquiring an additional 15,427 shares during the last quarter. Finally, National Bank of Canada FI increased its position in shares of Coterra Energy by 15.2% in the fourth quarter. National Bank of Canada FI now owns 426,924 shares of the company’s stock valued at $10,967,000 after acquiring an additional 56,377 shares during the period. Institutional investors own 87.92% of the company’s stock.

Analyst Ratings Changes

CTRA has been the subject of a number of analyst reports. Truist Financial dropped their target price on shares of Coterra Energy from $35.00 to $34.00 and set a “buy” rating for the company in a report on Monday, July 22nd. Roth Mkm upgraded Coterra Energy from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $25.00 to $29.00 in a report on Tuesday, August 27th. Bank of America reissued a “buy” rating and set a $34.00 target price on shares of Coterra Energy in a research note on Friday, June 14th. Citigroup raised their price target on Coterra Energy from $30.00 to $31.00 and gave the stock a “buy” rating in a research note on Friday, May 24th. Finally, UBS Group cut their price target on shares of Coterra Energy from $36.00 to $34.00 and set a “buy” rating on the stock in a report on Thursday, August 8th. Two equities research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $33.29.

Coterra Energy Price Performance

Shares of NYSE CTRA opened at $23.92 on Wednesday. The company has a 50 day simple moving average of $25.38 and a two-hundred day simple moving average of $26.65. Coterra Energy Inc. has a fifty-two week low of $23.18 and a fifty-two week high of $29.89. The company has a market capitalization of $17.68 billion, a price-to-earnings ratio of 13.83, a P/E/G ratio of 1.24 and a beta of 0.24. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.38 and a current ratio of 1.40.

Coterra Energy (NYSE:CTRA) last posted 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 quarterly revenue was up 7.3% on a year-over-year basis. During the same period last year, the business earned $0.38 EPS. Analysts expect that Coterra Energy Inc. will post 1.95 EPS for the current fiscal year.

Coterra Energy Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, August 29th. Stockholders of record on Thursday, August 15th were given a $0.21 dividend. This represents a $0.84 annualized dividend and a dividend yield of 3.51%. The ex-dividend date of this dividend was Thursday, August 15th. Coterra Energy’s dividend payout ratio is presently 48.55%.

Coterra Energy 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.