Amalgamated Bank Sells 54,152 Shares of Coterra Energy Inc. (NYSE:CTRA)

Amalgamated Bank lessened its holdings in shares of Coterra Energy Inc. (NYSE:CTRA) by 27.1% in the third quarter, HoldingsChannel.com reports. The fund owned 145,572 shares of the company’s stock after selling 54,152 shares during the period. Amalgamated Bank’s holdings in Coterra Energy were worth $3,486,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. Fortitude Family Office LLC boosted its position in shares of Coterra Energy by 154.9% during the 2nd quarter. Fortitude Family Office LLC now owns 933 shares of the company’s stock valued at $25,000 after acquiring an additional 567 shares during the last quarter. Larson Financial Group LLC lifted its position in Coterra Energy by 98.0% in the 2nd quarter. Larson Financial Group LLC now owns 1,081 shares of the company’s stock worth $29,000 after buying an additional 535 shares during the last quarter. Values First Advisors Inc. bought a new stake in Coterra Energy in the 3rd quarter worth approximately $57,000. Tobam bought a new stake in Coterra Energy in the 3rd quarter worth approximately $63,000. Finally, EverSource Wealth Advisors LLC lifted its position in Coterra Energy by 31.0% in the 1st quarter. EverSource Wealth Advisors LLC now owns 2,351 shares of the company’s stock worth $64,000 after buying an additional 557 shares during the last quarter. Institutional investors own 87.92% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on CTRA. JPMorgan Chase & Co. dropped their target price 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. Mizuho boosted their target price on Coterra Energy from $36.00 to $37.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. Wells Fargo & Company dropped their target price on Coterra Energy from $34.00 to $32.00 and set an “overweight” rating for the company in a research report on Tuesday, October 1st. Morgan Stanley lowered their price objective on Coterra Energy from $29.00 to $27.00 and set an “equal weight” rating for the company in a research report on Monday, September 16th. Finally, UBS Group lowered their price objective on Coterra Energy from $34.00 to $31.00 and set a “buy” rating for the company in a research report on Wednesday, September 18th. Two research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Coterra Energy currently has a consensus rating of “Moderate Buy” and an average price target of $31.29.

Coterra Energy Price Performance

CTRA opened at $24.58 on Friday. The stock has a market capitalization of $18.11 billion, a PE ratio of 14.81, a price-to-earnings-growth ratio of 1.54 and a beta of 0.22. The stock’s 50 day moving average price is $23.77 and its 200-day moving average price is $25.56. Coterra Energy Inc. has a 52-week low of $22.30 and a 52-week high of $28.90. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.38 and a current ratio of 1.61.

Coterra Energy (NYSE:CTRA) last issued its quarterly earnings results on Thursday, October 31st. The company reported $0.32 earnings per share for the quarter, missing the consensus estimate of $0.35 by ($0.03). The firm had revenue of $1.36 billion during the quarter, compared to analysts’ expectations of $1.28 billion. Coterra Energy had a return on equity of 9.38% and a net margin of 21.91%. Coterra Energy’s revenue for the quarter was up .2% on a year-over-year basis. During the same period in the previous year, the company earned $0.47 earnings per share. On average, equities research analysts predict that Coterra Energy Inc. will post 1.59 EPS for the current year.

Coterra Energy Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, November 27th. Investors 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 annualized dividend and a yield of 3.42%. Coterra Energy’s payout ratio is 50.60%.

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’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.