United Services Automobile Association Has $539,000 Holdings in Coterra Energy Inc. (NYSE:CTRA)

United Services Automobile Association decreased its position in Coterra Energy Inc. (NYSE:CTRA) by 6.9% during the 2nd quarter, Holdings Channel.com reports. The firm owned 20,225 shares of the company’s stock after selling 1,492 shares during the period. United Services Automobile Association’s holdings in Coterra Energy were worth $539,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently made changes to their positions in CTRA. Fortitude Family Office LLC grew its holdings in Coterra Energy by 154.9% in the 2nd quarter. Fortitude Family Office LLC now owns 933 shares of the company’s stock valued at $25,000 after buying an additional 567 shares in the last quarter. Larson Financial Group LLC grew its stake in shares of Coterra Energy by 98.0% in the second quarter. Larson Financial Group LLC now owns 1,081 shares of the company’s stock valued at $29,000 after acquiring an additional 535 shares in the last quarter. Central Pacific Bank Trust Division bought a new position in Coterra Energy during the first quarter worth about $44,000. Harbor Investment Advisory LLC raised its stake in Coterra Energy by 869.3% in the 1st quarter. Harbor Investment Advisory LLC now owns 1,609 shares of the company’s stock worth $45,000 after purchasing an additional 1,443 shares in the last quarter. Finally, Northwest Investment Counselors LLC bought a new stake in Coterra Energy in the 1st quarter valued at about $47,000. Institutional investors own 87.92% of the company’s stock.

Coterra Energy Price Performance

CTRA stock opened at $22.62 on Wednesday. The company has a 50 day simple moving average of $25.09 and a 200 day simple moving average of $26.59. The stock has a market cap of $16.83 billion, a price-to-earnings ratio of 13.08, a P/E/G ratio of 1.17 and a beta of 0.22. Coterra Energy Inc. has a 1 year low of $22.35 and a 1 year high of $29.89. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.40 and a quick ratio of 1.38.

Coterra Energy (NYSE:CTRA) last released its quarterly earnings data on Thursday, August 1st. The company reported $0.37 earnings per share (EPS) 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 analyst estimates of $1.32 billion. Coterra Energy had a return on equity of 10.48% and a net margin of 23.18%. Coterra Energy’s revenue for the quarter was up 7.3% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.38 earnings per share. Research analysts anticipate that Coterra Energy Inc. will post 1.95 EPS for the current fiscal year.

Coterra Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 29th. Investors of record on Thursday, August 15th were given a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a yield of 3.71%. The ex-dividend date of this dividend was Thursday, August 15th. Coterra Energy’s dividend payout ratio is 48.55%.

Wall Street Analyst Weigh In

A number of research firms have issued reports on CTRA. Bank of America reissued a “buy” rating and issued a $34.00 price objective on shares of Coterra Energy in a report on Friday, June 14th. Citigroup boosted their price objective on shares of Coterra Energy from $30.00 to $31.00 and gave the company a “buy” rating in a report on Friday, May 24th. Piper Sandler cut their price objective on shares of Coterra Energy from $39.00 to $31.00 and set an “overweight” rating for the company in a report on Thursday, August 15th. Wolfe Research began coverage on shares of Coterra Energy in a report on Thursday, July 18th. They issued an “outperform” rating and a $35.00 price objective for the company. Finally, Truist Financial cut their price objective 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. Two equities research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Coterra Energy currently has a consensus rating of “Moderate Buy” and an average price target of $33.12.

Coterra Energy Company 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.