Swiss National Bank Sells 15,400 Shares of Coterra Energy Inc. (NYSE:CTRA)

Swiss National Bank trimmed its holdings in Coterra Energy Inc. (NYSE:CTRA) by 0.7% during the third quarter, Holdings Channel reports. The institutional investor owned 2,209,020 shares of the company’s stock after selling 15,400 shares during the quarter. Swiss National Bank’s holdings in Coterra Energy were worth $52,906,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the business. Blair William & Co. IL boosted its position in shares of Coterra Energy by 9.0% during the first quarter. Blair William & Co. IL now owns 25,606 shares of the company’s stock valued at $714,000 after buying an additional 2,112 shares during the last quarter. Lake Street Advisors Group LLC bought a new stake in shares of Coterra Energy in the 1st quarter worth $291,000. Shell Asset Management Co. raised its holdings in shares of Coterra Energy by 39.2% in the first quarter. Shell Asset Management Co. now owns 46,647 shares of the company’s stock valued at $1,301,000 after purchasing an additional 13,136 shares during the last quarter. CreativeOne Wealth LLC raised its holdings in shares of Coterra Energy by 130.3% in the first quarter. CreativeOne Wealth LLC now owns 56,860 shares of the company’s stock valued at $1,586,000 after purchasing an additional 32,173 shares during the last quarter. Finally, Canada Pension Plan Investment Board lifted its position in shares of Coterra Energy by 30.0% during the first quarter. Canada Pension Plan Investment Board now owns 1,276,031 shares of the company’s stock valued at $35,576,000 after purchasing an additional 294,400 shares in the last quarter. 87.92% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts have commented on CTRA shares. UBS Group increased their price objective on shares of Coterra Energy from $31.00 to $35.00 and gave the company a “buy” rating in a research note on Friday, November 15th. Susquehanna increased their price target on Coterra Energy from $30.00 to $33.00 and gave the company a “positive” rating in a research report on Thursday, November 14th. Roth Mkm upgraded Coterra Energy from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $25.00 to $29.00 in a report on Tuesday, August 27th. Mizuho upped their price objective on Coterra Energy from $36.00 to $37.00 and gave the company an “outperform” rating in a research note on Friday, November 1st. Finally, Stephens lifted their target price on Coterra Energy from $28.00 to $29.00 and gave the stock an “overweight” rating in a research note on Friday, November 1st. Two analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $32.41.

Coterra Energy Price Performance

Coterra Energy stock opened at $26.83 on Thursday. The firm has a market capitalization of $19.76 billion, a P/E ratio of 15.92, a PEG ratio of 1.67 and a beta of 0.22. Coterra Energy Inc. has a one year low of $22.30 and a one year high of $28.90. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.61 and a quick ratio of 1.56. The business has a fifty day moving average price of $24.09 and a 200-day moving average price of $25.43.

Coterra Energy (NYSE:CTRA) last issued its earnings results on Thursday, October 31st. The company reported $0.32 EPS for the quarter, missing the consensus estimate of $0.35 by ($0.03). Coterra Energy had a return on equity of 9.38% and a net margin of 21.91%. The company had revenue of $1.36 billion during the quarter, compared to the consensus estimate of $1.28 billion. During the same quarter in the prior year, the business earned $0.47 EPS. The firm’s revenue for the quarter was up .2% compared to the same quarter last year. As a group, equities research analysts forecast that Coterra Energy Inc. will post 1.53 EPS for the current year.

Coterra Energy Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 27th. Investors of record on Thursday, November 14th will be issued a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a yield of 3.13%. The ex-dividend date is Thursday, November 14th. Coterra Energy’s dividend payout ratio (DPR) is presently 50.60%.

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.