US Bancorp DE Raises Holdings in Coterra Energy Inc. (NYSE:CTRA)

US Bancorp DE lifted its holdings in Coterra Energy Inc. (NYSE:CTRA) by 30.0% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,632,233 shares of the company’s stock after purchasing an additional 376,607 shares during the quarter. US Bancorp DE owned 0.22% of Coterra Energy worth $39,092,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. King Luther Capital Management Corp lifted its position in Coterra Energy by 4.4% during the second quarter. King Luther Capital Management Corp now owns 6,783,690 shares of the company’s stock valued at $180,921,000 after purchasing an additional 285,774 shares during the period. Disciplined Growth Investors Inc. MN lifted its holdings in Coterra Energy by 1.0% in the second 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 during the period. American Century Companies Inc. boosted its position in Coterra Energy by 29.1% in the second quarter. American Century Companies Inc. now owns 4,498,227 shares of the company’s stock worth $119,968,000 after purchasing an additional 1,013,107 shares during the last quarter. Equity Investment Corp increased its position in shares of Coterra Energy by 0.7% during the 2nd quarter. Equity Investment Corp now owns 3,227,678 shares of the company’s stock valued at $86,082,000 after purchasing an additional 22,017 shares during the last quarter. Finally, Captrust Financial Advisors lifted its stake in shares of Coterra Energy by 4.6% in the 1st quarter. Captrust Financial Advisors now owns 2,952,024 shares of the company’s stock worth $78,422,000 after purchasing an additional 128,720 shares during the period. 87.92% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the stock. UBS Group cut their target price on shares of Coterra Energy from $34.00 to $31.00 and set a “buy” rating for the company in a research report on Wednesday, September 18th. Wolfe Research initiated coverage on Coterra Energy in a research note on Thursday, July 18th. They issued an “outperform” rating and a $35.00 price objective for the company. Roth Capital upgraded Coterra Energy from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, August 27th. JPMorgan Chase & Co. reduced their price target on Coterra Energy from $31.00 to $26.00 and set an “overweight” rating for the company in a research report on Thursday, September 12th. Finally, Truist Financial decreased their price objective on Coterra Energy from $34.00 to $31.00 and set a “buy” rating on the stock in a research note on Monday, September 30th. Two investment analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $32.06.

Coterra Energy Price Performance

Shares of Coterra Energy stock opened at $23.93 on Friday. The firm has a market cap of $17.69 billion, a PE ratio of 13.83, a PEG ratio of 1.41 and a beta of 0.22. The stock has a 50 day moving average of $23.82 and a 200 day moving average of $25.74. The company has a current ratio of 1.40, a quick ratio of 1.38 and a debt-to-equity ratio of 0.16. Coterra Energy Inc. has a 12 month low of $22.30 and a 12 month high of $28.90.

Coterra Energy (NYSE:CTRA) last posted its 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 business had revenue of $1.27 billion during the quarter, compared to analysts’ expectations of $1.32 billion. Coterra Energy had a net margin of 23.18% and a return on equity of 10.48%. The company’s revenue for the quarter was up 7.3% compared to the same quarter last year. During the same period last year, the business posted $0.38 earnings per share. On average, research analysts expect that Coterra Energy Inc. will post 1.72 EPS for the current fiscal year.

About Coterra Energy

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.