Amalgamated Bank Sells 54,152 Shares of Coterra Energy Inc. (NYSE:CTRA)

Amalgamated Bank reduced its position in Coterra Energy Inc. (NYSE:CTRA) by 27.1% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 145,572 shares of the company’s stock after selling 54,152 shares during the period. Amalgamated Bank’s holdings in Coterra Energy were worth $3,486,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of CTRA. BNP PARIBAS ASSET MANAGEMENT Holding S.A. bought a new position in Coterra Energy during the 1st quarter valued at $656,000. Quadrature Capital Ltd lifted its stake in Coterra Energy by 112.2% during the 1st quarter. Quadrature Capital Ltd now owns 72,395 shares of the company’s stock valued at $2,018,000 after acquiring an additional 38,278 shares in the last quarter. CreativeOne Wealth LLC lifted its stake in Coterra Energy by 130.3% during the 1st quarter. CreativeOne Wealth LLC now owns 56,860 shares of the company’s stock valued at $1,586,000 after acquiring an additional 32,173 shares in the last quarter. Raymond James & Associates lifted its stake in Coterra Energy by 5.0% during the 2nd quarter. Raymond James & Associates now owns 1,187,663 shares of the company’s stock valued at $31,675,000 after acquiring an additional 56,748 shares in the last quarter. Finally, Disciplined Growth Investors Inc. MN lifted its stake in Coterra Energy by 1.0% during the 2nd quarter. Disciplined Growth Investors Inc. MN now owns 5,063,920 shares of the company’s stock valued at $135,055,000 after acquiring an additional 51,249 shares in the last quarter. 87.92% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

CTRA has been the topic of several recent analyst reports. Stephens raised their price objective on Coterra Energy from $28.00 to $29.00 and gave the company an “overweight” rating in a research note on Friday, November 1st. Susquehanna lowered their target price on Coterra Energy from $33.00 to $30.00 and set a “positive” rating on the stock in a research note on Wednesday, September 4th. UBS Group lowered their target price on Coterra Energy from $34.00 to $31.00 and set a “buy” rating on the stock in a research note on Wednesday, September 18th. Piper Sandler reiterated an “overweight” rating and set a $32.00 target price (up from $31.00) on shares of Coterra Energy in a research note on Monday, November 4th. Finally, Scotiabank lowered their target price on Coterra Energy from $35.00 to $32.00 and set a “sector outperform” rating on the stock in a research note on Thursday, October 10th. Two investment 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 company’s stock. According to data from MarketBeat.com, Coterra Energy has a consensus rating of “Moderate Buy” and a consensus price target of $31.29.

Coterra Energy Stock Up 0.7 %

CTRA stock opened at $24.58 on Friday. The company has a quick ratio of 1.38, a current ratio of 1.61 and a debt-to-equity ratio of 0.16. The firm has a market capitalization of $18.11 billion, a PE ratio of 14.81, a PEG ratio of 1.54 and a beta of 0.22. Coterra Energy Inc. has a twelve month low of $22.30 and a twelve month high of $28.90. The stock has a 50-day simple moving average of $23.77 and a two-hundred day simple moving average of $25.56.

Coterra Energy (NYSE:CTRA) last posted its earnings results on Thursday, October 31st. The company reported $0.32 earnings per share for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.03). The company had revenue of $1.36 billion for the quarter, compared to analysts’ expectations of $1.28 billion. Coterra Energy had a net margin of 21.91% and a return on equity of 9.38%. The firm’s quarterly revenue was up .2% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.47 EPS. On average, equities analysts predict that Coterra Energy Inc. will post 1.59 EPS for the current fiscal year.

Coterra Energy Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 27th. Shareholders of record on Thursday, November 14th will be issued a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a yield of 3.42%. The ex-dividend date is Thursday, November 14th. Coterra Energy’s payout ratio is presently 50.60%.

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.