DekaBank Deutsche Girozentrale grew its position in Coterra Energy Inc. (NYSE:CTRA – Free Report) by 17.1% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 215,386 shares of the company’s stock after acquiring an additional 31,416 shares during the quarter. DekaBank Deutsche Girozentrale’s holdings in Coterra Energy were worth $5,108,000 at the end of the most recent reporting period.
Other institutional investors have also recently made changes to their positions in the company. Pinnacle Associates Ltd. lifted its stake in Coterra Energy by 12.3% in the fourth quarter. Pinnacle Associates Ltd. now owns 16,225 shares of the company’s stock worth $448,000 after purchasing an additional 1,777 shares during the last quarter. Venture Visionary Partners LLC purchased a new position in Coterra Energy during the 1st quarter valued at $437,000. Hennion & Walsh Asset Management Inc. grew its position in Coterra Energy by 27.7% in the 1st quarter. Hennion & Walsh Asset Management Inc. now owns 48,533 shares of the company’s stock valued at $1,191,000 after acquiring an additional 10,538 shares during the last quarter. Copeland Capital Management LLC increased its stake in Coterra Energy by 29.9% in the fourth quarter. Copeland Capital Management LLC now owns 763,106 shares of the company’s stock worth $18,750,000 after purchasing an additional 175,770 shares during the period. Finally, Treasurer of the State of North Carolina lifted its position in shares of Coterra Energy by 12.8% during the fourth quarter. Treasurer of the State of North Carolina now owns 385,155 shares of the company’s stock worth $9,463,000 after purchasing an additional 43,672 shares during the last quarter. Institutional investors own 92.59% of the company’s stock.
Wall Street Analyst Weigh In
CTRA has been the topic of several recent analyst reports. Stephens started coverage on shares of Coterra Energy in a research note on Monday, April 24th. They issued an “overweight” rating and a $32.00 price target on the stock. Piper Sandler decreased their price target on shares of Coterra Energy from $31.00 to $29.00 in a research note on Tuesday, June 13th. Citigroup raised shares of Coterra Energy from a “sell” rating to a “neutral” rating and lifted their price target for the company from $22.00 to $25.00 in a research note on Wednesday, April 19th. Truist Financial lifted their price target on shares of Coterra Energy from $26.00 to $29.00 and gave the company a “hold” rating in a research note on Tuesday, April 11th. Finally, Stifel Nicolaus decreased their price target on shares of Coterra Energy from $38.00 to $35.00 and set a “buy” rating for the company in a research note on Wednesday, April 12th. Fifteen investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $29.88.
Coterra Energy Stock Performance
Coterra Energy (NYSE:CTRA – Get Free Report) last issued its quarterly earnings results on Thursday, May 4th. The company reported $0.85 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.69 by $0.16. The business had revenue of $1.78 billion for the quarter, compared to the consensus estimate of $1.62 billion. Coterra Energy had a return on equity of 29.48% and a net margin of 45.19%. Analysts expect that Coterra Energy Inc. will post 2.43 earnings per share for the current fiscal year.
Coterra Energy Cuts Dividend
The business also recently disclosed a quarterly dividend, which was paid on Friday, June 9th. Stockholders of record on Friday, May 26th were issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 3.02%. The ex-dividend date was Thursday, May 25th. Coterra Energy’s dividend payout ratio (DPR) is presently 15.27%.
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 primarily focuses on the Marcellus Shale with approximately 183,000 net acres in the dry gas window of the play located in Susquehanna County, Pennsylvania.
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