Greenleaf Trust grew its position in Coterra Energy Inc. (NYSE:CTRA – Get Rating) by 28.5% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 25,238 shares of the company’s stock after buying an additional 5,591 shares during the quarter. Greenleaf Trust’s holdings in Coterra Energy were worth $651,000 at the end of the most recent quarter.
Other hedge funds have also made changes to their positions in the company. Capital Analysts LLC purchased a new position in shares of Coterra Energy in the first quarter valued at $27,000. Larson Financial Group LLC purchased a new position in shares of Coterra Energy in the first quarter valued at $28,000. BerganKDV Wealth Management LLC purchased a new position in shares of Coterra Energy in the first quarter valued at $29,000. Eagle Bay Advisors LLC purchased a new position in shares of Coterra Energy in the first quarter valued at $29,000. Finally, Patriot Financial Group Insurance Agency LLC increased its position in shares of Coterra Energy by 239.3% in the second quarter. Patriot Financial Group Insurance Agency LLC now owns 1,106 shares of the company’s stock valued at $29,000 after buying an additional 780 shares in the last quarter. Hedge funds and other institutional investors own 93.39% of the company’s stock.
Analyst Ratings Changes
A number of brokerages have recently weighed in on CTRA. Mizuho dropped their price target on Coterra Energy from $43.00 to $42.00 and set a “buy” rating for the company in a research report on Monday, October 24th. Citigroup lifted their price objective on Coterra Energy from $27.00 to $30.00 and gave the stock a “neutral” rating in a research report on Wednesday, September 21st. Jefferies Financial Group began coverage on Coterra Energy in a research report on Wednesday, October 19th. They set a “hold” rating and a $32.00 price objective for the company. Wolfe Research upgraded Coterra Energy from an “underperform” rating to a “peer perform” rating in a research report on Monday, November 7th. Finally, Stifel Nicolaus began coverage on Coterra Energy in a research report on Tuesday, October 25th. They set a “buy” rating and a $40.00 price objective for the company. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $34.00.
Coterra Energy Stock Performance
Coterra Energy (NYSE:CTRA – Get Rating) last released its quarterly earnings data on Thursday, November 3rd. The company reported $1.39 earnings per share for the quarter, beating the consensus estimate of $1.34 by $0.05. The business had revenue of $2.52 billion for the quarter, compared to analyst estimates of $2.43 billion. Coterra Energy had a return on equity of 29.82% and a net margin of 44.15%. Equities analysts predict that Coterra Energy Inc. will post 4.88 EPS for the current year.
Coterra Energy Increases Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 30th. Stockholders of record on Wednesday, November 16th will be paid a $0.68 dividend. This is a positive change from Coterra Energy’s previous quarterly dividend of $0.15. This represents a $2.72 annualized dividend and a dividend yield of 9.88%. The ex-dividend date is Tuesday, November 15th. Coterra Energy’s payout ratio is currently 12.12%.
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. It primarily focuses on the Marcellus Shale with approximately 177,000 net acres in the dry gas window of the play located in Susquehanna County, Pennsylvania.
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