Bokf Na Increases Position in Coterra Energy Inc. (NYSE:CTRA)

Bokf Na increased its position in shares of Coterra Energy Inc. (NYSE:CTRA) by 3.5% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 654,613 shares of the company’s stock after acquiring an additional 22,386 shares during the quarter. Bokf Na owned approximately 0.09% of Coterra Energy worth $17,459,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Balyasny Asset Management L.P. purchased a new position in shares of Coterra Energy during the 4th quarter worth about $54,625,000. SG Americas Securities LLC raised its stake in Coterra Energy by 2,609.6% during the first quarter. SG Americas Securities LLC now owns 1,541,342 shares of the company’s stock worth $42,973,000 after purchasing an additional 1,484,458 shares during the period. Bridgewater Associates LP acquired a new position in shares of Coterra Energy in the 4th quarter valued at $31,112,000. Clearbridge Investments LLC purchased a new stake in shares of Coterra Energy during the 1st quarter valued at $28,967,000. Finally, American Century Companies Inc. increased its holdings in shares of Coterra Energy by 29.1% during the 2nd quarter. American Century Companies Inc. now owns 4,498,227 shares of the company’s stock worth $119,968,000 after buying an additional 1,013,107 shares during the last quarter. 87.92% of the stock is owned by hedge funds and other institutional investors.

Coterra Energy Price Performance

Shares of NYSE CTRA opened at $22.84 on Thursday. The company has a quick ratio of 1.38, a current ratio of 1.40 and a debt-to-equity ratio of 0.16. Coterra Energy Inc. has a fifty-two week low of $22.30 and a fifty-two week high of $29.89. The business has a 50 day moving average price of $25.00 and a two-hundred day moving average price of $26.56. The firm has a market cap of $17.00 billion, a PE ratio of 13.20, a price-to-earnings-growth ratio of 1.17 and a beta of 0.22.

Coterra Energy (NYSE:CTRA) last released its quarterly earnings results on Thursday, August 1st. The company reported $0.37 earnings per share 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%. The firm’s quarterly revenue was up 7.3% compared to the same quarter last year. During the same period in the previous year, the business posted $0.38 EPS. Sell-side analysts expect that Coterra Energy Inc. will post 1.95 earnings per share for the current fiscal year.

Coterra Energy Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, August 29th. Stockholders of record on Thursday, August 15th were given a $0.21 dividend. This represents a $0.84 annualized dividend and a dividend yield of 3.68%. The ex-dividend date was Thursday, August 15th. Coterra Energy’s payout ratio is currently 48.55%.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the company. Citigroup boosted their price target on Coterra Energy from $30.00 to $31.00 and gave the company a “buy” rating in a research report on Friday, May 24th. Susquehanna decreased their target price on Coterra Energy from $33.00 to $30.00 and set a “positive” rating for the company in a report on Wednesday, September 4th. Bank of America restated a “buy” rating and issued a $34.00 price target on shares of Coterra Energy in a report on Friday, June 14th. UBS Group decreased their price objective on shares of Coterra Energy from $36.00 to $34.00 and set a “buy” rating for the company in a research note on Thursday, August 8th. Finally, Piper Sandler cut their target price on shares of Coterra Energy from $39.00 to $31.00 and set an “overweight” rating on the stock in a research note on Thursday, August 15th. Two investment analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price 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.