Bank of New York Mellon Corp Buys 337,902 Shares of Coterra Energy Inc. (NYSE:CTRA)

Bank of New York Mellon Corp grew its stake in shares of Coterra Energy Inc. (NYSE:CTRA) by 6.8% in the first quarter, HoldingsChannel.com reports. The fund owned 5,281,168 shares of the company’s stock after acquiring an additional 337,902 shares during the quarter. Bank of New York Mellon Corp’s holdings in Coterra Energy were worth $152,626,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently modified their holdings of CTRA. Wayfinding Financial LLC bought a new stake in shares of Coterra Energy during the 1st quarter valued at $34,000. Investors Research Corp raised its holdings in shares of Coterra Energy by 45.2% during the 1st quarter. Investors Research Corp now owns 1,311 shares of the company’s stock worth $38,000 after buying an additional 408 shares in the last quarter. VSM Wealth Advisory LLC acquired a new position in shares of Coterra Energy during the 4th quarter worth $46,000. Catalyst Capital Advisors LLC acquired a new position in shares of Coterra Energy during the 1st quarter worth $46,000. Finally, Alpine Bank Wealth Management acquired a new position in shares of Coterra Energy during the 1st quarter worth $47,000. 87.92% of the stock is currently owned by institutional investors.

Coterra Energy Trading Up 1.4%

Shares of CTRA stock opened at $25.17 on Wednesday. The stock has a market cap of $19.21 billion, a price-to-earnings ratio of 14.63, a PEG ratio of 0.35 and a beta of 0.35. The stock has a 50-day moving average of $25.17 and a 200-day moving average of $26.44. The company has a current ratio of 0.90, a quick ratio of 0.86 and a debt-to-equity ratio of 0.30. Coterra Energy Inc. has a 1-year low of $22.30 and a 1-year high of $29.95.

Coterra Energy (NYSE:CTRA) last issued its quarterly earnings results on Monday, May 5th. The company reported $0.80 earnings per share for the quarter, beating the consensus estimate of $0.71 by $0.09. Coterra Energy had a return on equity of 10.61% and a net margin of 21.67%. The company had revenue of $924.00 million during the quarter, compared to analysts’ expectations of $1.92 billion. During the same quarter in the prior year, the firm posted $0.51 earnings per share. The business’s quarterly revenue was up 32.9% on a year-over-year basis. On average, equities research analysts forecast that Coterra Energy Inc. will post 1.54 earnings per share for the current year.

Coterra Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, May 29th. Investors of record on Thursday, May 15th were given a dividend of $0.22 per share. The ex-dividend date was Thursday, May 15th. This represents a $0.88 annualized dividend and a dividend yield of 3.50%. Coterra Energy’s payout ratio is 51.16%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on CTRA shares. Morgan Stanley set a $28.00 price target on Coterra Energy in a report on Tuesday, April 15th. Susquehanna lowered their price target on Coterra Energy from $34.00 to $32.00 and set a “positive” rating for the company in a report on Tuesday, April 22nd. The Goldman Sachs Group reaffirmed a “neutral” rating and issued a $31.00 target price on shares of Coterra Energy in a report on Tuesday, July 1st. Barclays upped their target price on Coterra Energy from $35.00 to $37.00 and gave the stock an “overweight” rating in a report on Monday. Finally, Pickering Energy Partners cut Coterra Energy from an “outperform” rating to a “neutral” rating in a report on Tuesday, May 20th. Four 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 data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $33.10.

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.