Cullen Frost Bankers Inc. Raises Stock Position in Coterra Energy Inc. (NYSE:CTRA)

Cullen Frost Bankers Inc. lifted its stake in Coterra Energy Inc. (NYSE:CTRA) by 9.5% in the 2nd quarter, HoldingsChannel reports. The firm owned 14,416 shares of the company’s stock after buying an additional 1,249 shares during the quarter. Cullen Frost Bankers Inc.’s holdings in Coterra Energy were worth $384,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of CTRA. Vanguard Group Inc. raised its stake in Coterra Energy by 0.5% in the fourth quarter. Vanguard Group Inc. now owns 87,927,114 shares of the company’s stock worth $2,243,900,000 after buying an additional 407,244 shares in the last quarter. Dimensional Fund Advisors LP raised its position in shares of Coterra Energy by 8.8% in the 4th quarter. Dimensional Fund Advisors LP now owns 10,465,383 shares of the company’s stock worth $267,089,000 after acquiring an additional 848,519 shares in the last quarter. Schroder Investment Management Group lifted its stake in shares of Coterra Energy by 8.7% in the 4th quarter. Schroder Investment Management Group now owns 7,815,648 shares of the company’s stock valued at $199,455,000 after purchasing an additional 628,132 shares during the period. Equity Investment Corp boosted its position in shares of Coterra Energy by 4.7% during the first quarter. Equity Investment Corp now owns 3,205,661 shares of the company’s stock valued at $89,374,000 after purchasing an additional 143,454 shares in the last quarter. Finally, Captrust Financial Advisors grew its stake in Coterra Energy by 4.6% in the first quarter. Captrust Financial Advisors now owns 2,952,024 shares of the company’s stock worth $78,422,000 after purchasing an additional 128,720 shares during the period. Institutional investors own 87.92% of the company’s stock.

Coterra Energy Stock Performance

CTRA opened at $22.80 on Tuesday. Coterra Energy Inc. has a 12-month low of $22.75 and a 12-month high of $29.89. The company has a market cap of $16.97 billion, a price-to-earnings ratio of 13.18, a PEG ratio of 1.17 and a beta of 0.22. The company has a current ratio of 1.40, a quick ratio of 1.38 and a debt-to-equity ratio of 0.16. The company’s 50 day moving average is $25.16 and its 200 day moving average is $26.61.

Coterra Energy (NYSE:CTRA) last issued its quarterly earnings results on Thursday, August 1st. The company reported $0.37 earnings per share for the quarter, missing the consensus estimate of $0.39 by ($0.02). The business had revenue of $1.27 billion for the quarter, compared to analysts’ expectations of $1.32 billion. Coterra Energy had a return on equity of 10.48% and a net margin of 23.18%. The company’s revenue was up 7.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.38 EPS. On average, equities research analysts predict that Coterra Energy Inc. will post 1.95 EPS for the current year.

Coterra Energy Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, August 29th. Shareholders of record on Thursday, August 15th were given a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a yield of 3.68%. The ex-dividend date of this dividend was Thursday, August 15th. Coterra Energy’s payout ratio is 48.55%.

Wall Street Analysts Forecast Growth

Several brokerages have commented on CTRA. Citigroup raised their price objective on Coterra Energy from $30.00 to $31.00 and gave the company a “buy” rating in a research report on Friday, May 24th. Wolfe Research assumed coverage on shares of Coterra Energy in a research note on Thursday, July 18th. They set an “outperform” rating and a $35.00 price objective on the stock. Truist Financial decreased their target price on shares of Coterra Energy from $35.00 to $34.00 and set a “buy” rating for the company in a research note on Monday, July 22nd. Roth Capital upgraded shares of Coterra Energy from a “hold” rating to a “strong-buy” rating in a report on Tuesday, August 27th. Finally, Piper Sandler cut their price target on Coterra Energy from $39.00 to $31.00 and set an “overweight” rating on the stock in a research note on Thursday, August 15th. Two research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $33.12.

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.