PNC Financial Services Group Inc. Sells 17,402 Shares of Coterra Energy Inc. (NYSE:CTRA)

PNC Financial Services Group Inc. lessened its position in Coterra Energy Inc. (NYSE:CTRA) by 5.5% in the third quarter, HoldingsChannel.com reports. The fund owned 301,375 shares of the company’s stock after selling 17,402 shares during the period. PNC Financial Services Group Inc.’s holdings in Coterra Energy were worth $7,218,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently modified their holdings of the company. Raymond James & Associates boosted its position in Coterra Energy by 5.0% during the second quarter. Raymond James & Associates now owns 1,187,663 shares of the company’s stock worth $31,675,000 after purchasing an additional 56,748 shares during the period. MQS Management LLC bought a new stake in shares of Coterra Energy during the 3rd quarter worth about $776,000. Disciplined Growth Investors Inc. MN grew its stake in Coterra Energy by 1.0% in 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 buying an additional 51,249 shares during the last quarter. National Pension Service raised its holdings in Coterra Energy by 14.0% in the 3rd quarter. National Pension Service now owns 1,335,880 shares of the company’s stock valued at $31,994,000 after acquiring an additional 164,048 shares during the period. Finally, Cetera Investment Advisers lifted its position in Coterra Energy by 283.4% during the first quarter. Cetera Investment Advisers now owns 209,095 shares of the company’s stock worth $5,830,000 after acquiring an additional 154,551 shares during the last quarter. 87.92% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Coterra Energy

In other Coterra Energy news, SVP Adam M. Vela sold 16,435 shares of the stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of $26.76, for a total value of $439,800.60. Following the completion of the transaction, the senior vice president now directly owns 72,409 shares in the company, valued at approximately $1,937,664.84. This trade represents a 18.50 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 1.70% of the stock is currently owned by insiders.

Coterra Energy Stock Up 0.7 %

Shares of CTRA opened at $27.63 on Friday. The firm has a 50 day simple moving average of $24.36 and a two-hundred day simple moving average of $25.45. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.61 and a quick ratio of 1.56. Coterra Energy Inc. has a one year low of $22.30 and a one year high of $28.90. The company has a market cap of $20.35 billion, a P/E ratio of 16.64, a P/E/G ratio of 1.78 and a beta of 0.22.

Coterra Energy (NYSE:CTRA) last posted its quarterly earnings results on Thursday, October 31st. The company reported $0.32 EPS for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.03). The business had revenue of $1.36 billion for the quarter, compared to analyst estimates of $1.28 billion. Coterra Energy had a return on equity of 9.38% and a net margin of 21.91%. Coterra Energy’s quarterly revenue was up .2% on a year-over-year basis. During the same period last year, the firm posted $0.47 EPS. Research analysts forecast that Coterra Energy Inc. will post 1.53 EPS for the current fiscal year.

Coterra Energy Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 27th. Stockholders of record on Thursday, November 14th will be paid a $0.21 dividend. The ex-dividend date is Thursday, November 14th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 3.04%. Coterra Energy’s payout ratio is currently 50.60%.

Analysts Set New Price Targets

CTRA has been the topic of several research reports. Scotiabank decreased their target price on Coterra Energy from $35.00 to $32.00 and set a “sector outperform” rating on the stock in a research report on Thursday, October 10th. Morgan Stanley upped their price objective on Coterra Energy from $27.00 to $29.00 and gave the company an “equal weight” rating in a report on Thursday, November 14th. UBS Group lifted their target price on Coterra Energy from $31.00 to $35.00 and gave the stock a “buy” rating in a report on Friday, November 15th. Stephens boosted their target price on shares of Coterra Energy from $28.00 to $29.00 and gave the company an “overweight” rating in a research report on Friday, November 1st. Finally, Susquehanna raised their price target on shares of Coterra Energy from $30.00 to $33.00 and gave the stock a “positive” rating in a research report on Thursday, November 14th. Two investment analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $32.41.

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.